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The fear of running out of money
The fear of running out of money is more overwhelming than the fear of death itself for almost two-thirds of retirees, according to the latest Allianz Retirement Study. Along with the fear of running out of money, more than 50…
What retirees spend the most on the first year
Even though you have recently retired, there are still expenses you need to be aware of. All retirees are affected by healthcare bills, housing expenses, and travel expenses. Nicole Spector, writing for GoBankingRates, explains how to account for these costs.…
Figuring out your ideal retirement savings number
The recent Northwestern Mutual Survey found that the average respondent estimated they would need $1.46 million to live comfortably in retirement, which is up by almost a quarter of a million dollars from last year. One of the factors driving…
Explore the Latest Enhancements to Your Online my Social Security Account Portal: Improved Features Now Live!
Your personal my Social Security account is your secure access point to Social Security services. Whether you’re planning for retirement, checking your claim status, or updating your information, your personal account is designed to make your experience smooth and convenient. Continue reading here……
Three questions to ask yourself before you claim your benefits
If you were born in 1960 or later, your full retirement age is 67, which allows you to receive your full benefits. The best age for you to claim your Social Security benefits will depend on factors such as your…
Audit Finds Social Security Processed Small Overpayments It Could Not Cost-Effectively Recover
The Social Security Administration (SSA) Office of the Inspector General (OIG) has issued an audit report finding SSA spent more to recover certain low-dollar Old-Age, Survivors, and Disability Insurance (OASDI) overpayments than the amounts it ultimately recovered. Continue reading here… Notice:…
What is Social Security WINDEX calculation?
According to the latest Inspector General, Social Security employees have failed to apply WINDEX to certain survivor claims. WINDEX (Widow(er)’s Indexing) is an alternate formula the Social Security Administration uses to calculate survivor benefits when the deceased worker died before…
Don’t get complacent about your retirement planning
Despite all the noise about America’s retirement savings crisis, according to the recent EBRI’s Retirement Confidence Survey, there is little evidence of a widespread retirement crisis. However, this is not universal; some retirees are struggling. Steve Vernon, writing for Forbes,…
The exhaustion of the Social Security trust fund is rapidly approaching
The Social Security program celebrated its 90th anniversary last year, and it continues to pay monthly benefits to retired workers and survivors of deceased workers. However, the future of this invaluable program may soon be reduced, but not bankrupt, as…
Three ways to increase your Social Security benefit
You can typically get monthly Retirement benefits starting at age 62 if you’ve worked and paid Social Security taxes for 10 years or more. However, your benefit will be permanently reduced. The reduction is calculated based on the number of…