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When to Take Benefits…the Neverending Question
The AMAC Foundation’s Social Security Advisory Service, a free-to-the-public program with a staff of trained and accredited advisors–field about 500-600 requests for counseling each month. And the most frequent question received by the service goes something like this, “I’m 62…
Older workers are defying the skeptics
Andrew G. Biggs, a Senior Fellow at AEI, recently testified before the Joint Economic Committee on Building A Better Labor Market: Empowering Older Workers For A Stronger Economy, stating “Americans defied the skeptics to extend their work lives. He also…
Owning a business and making plans to retire
You created a business; you have worked for years and years building that business now you start thinking about retirement. Do you sell your business? Or maybe hand the reins over to family? It is important to have clarity, vision,…
If you retired early, you aren’t necessarily stuck with a bad claiming strategy
It is unclear whether the pandemic-induced increase in retirement among older adults will be temporary or longer-lasting. However, if you decided to retire during the “Great Resignation” and started to receive your Social Security benefits early before your full retirement…
Changes to HSAs and FSAs
It is a new year, which means changes to your health savings account (HSA) and flexible spending arrangements (FSA). The Internal Revenue Service (IRS) has increased the contribution limits for both HSA and FSA accounts; however, some rules will stay…
The right strategy can help you maximize your benefits
Over 8 in 10 Americans aged 65 and older receive Social Security. For 61 percent of those beneficiaries, Social Security is more than half their total income, and for one in three, it is all or nearly all of their…
Is there’s a danger in waiting too long to claim your Social Security benefits.
Would it be better for you to start getting your Social Security benefits early with a smaller monthly amount for more years or wait for a larger monthly payment in a shorter timeframe? You can begin your retirement benefit at…
Don’t risk missing out on Social Security income
Social Security benefits may be the only source of income for many retirees. So, you need to understand your benefits to make the right choices to preserve your income in your later years. Christy Bieber explains the four possible ways…
Don’t shortchange yourself by filing for your benefits at 65
For years, the full retirement age was 65, but that is not true anymore. Although many people see 65 as the ideal retirement age since that is the age you become eligible for Medicare, the full retirement age has increased…
Ask yourself these following questions before you claim your Social Security benefits
Almost all of the retirement experts advise you should hold off claiming your Social Security benefits until the age of 70. There is no hard-n- fast rule when you should claim your Social Security benefits, be it late or early,…