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Navigating Social Security When There Are Big Spousal Age Gaps

Maurie Backman explains how being married adds a level of complexity when it comes to Social Security, and that is particularly true when there is a significant difference in age between spouses.  Backman explains some scenarios, one being this:  if you…

Three Social Security Secrets That Could Leave You Richer

Most Americans know they will one day get Social Security, though they may have only a vague understanding of what they will get and how that is determined.  Still, a majority tend to rely (even over-rely) on the monthly benefit. …

Some Shouldn’t Wait Until 70 to Claim Social Security

Experts almost universally encourage folks to wait to claim Social Security to increase their monthly benefits for life.  Age 70 is considered maximum retirement age.  But, Christy Bieber advises one situation where one should not wait until 70.  For those claiming spousal…

Married couples need to be careful when signing up for benefits

Maurie Backman explains why singles may be tempted to grab their Social Security benefit at age 62, even if it’s lower each month for life than waiting until full retirement age (now 66-67).  But this strategy could backfire for married…

Will Social Security Be There for Me?

Matt Montgomery of Money Matters has a stark “maybe not” to the question on whether Social Security benefits will be there.  He notes that as long as workers contribute payroll taxes, benefits can be paid.  But those born after 1968…

Are you misinformed about Social Security?

Social Security is so important to the over 65 million who collect monthly retirement benefits, but 35% of near-retirees aged 55-65 failed a basic Social Security quiz, while 18% earned just a D.  Only 3% were able to answer all 12 questions…

Social Security For A Couple With An Age Difference

Developing a Social Security claiming strategy takes on a different perspective for a married couple, and especially so if there is a significant age difference. For example, if the husband is years older, the importance of the wife’s survivor benefit…

Income Taxes, Social Security, and Retirement Planning

Retirement planning can be a pretty complex undertaking, especially for those with an investment portfolio which includes tax-deferred savings. Required Minimum Distributions (RMDs) from tax-deferred investments must now start at age 72, and since RMDs will affect your income tax…

Which States Tax Social Security Benefits?

Planning for your retirement often includes deciding not only when to retire, but also where to spend your so-called “golden years.”  Many choose to downsize, and some like the idea of a warmer winter climate but, where ever you may be…

Evaluate Entire Plan When Selecting “Medigap” Healthcare Coverage

“Medigap” is a short name for a Medicare Supplemental Insurance plan – a plan which provides coverage for the “gap” in healthcare expenses that “original Medicare” does not pay for. When considering a Medigap policy, it’s very important to look not only at the…

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