Latest News
Maximizing Those Social Security Benefits
Everyone would likely do it, or at least consider it, if they only knew. Such is the case with maximizing Social Security payments. To get the highest benefit one should earn more and work more, meaning 35 years or more…
Social Security to finally get a commissioner
With no confirmed commissioner since President Biden fired Andrew Saul, a holdover from the Trump administration who refused to resign in 2021, Kilolo Kijakazi has been the acting commissioner of the Social Security Administration. On Wednesday July 26th, Biden announced he will…
Break-even age – the single most important number to know
Stefon Walters explains the break-even age is the age when the total amount received from claiming benefits equals the amount received by delaying them. It’s a key factor, though just one, that should be used to determine when you claim…
Social Security Spousal Benefits – A Primer
It takes 40 work credits (10 years) to collect Social Security retirement benefits on your own earnings record. But if you didn’t work or fell short of that you may still be able to get benefits if you are, or were, married…
Inflation driving expectations way up on what is needed to retire
Call it the curse of high inflation, which peaked at over 9% last summer. Americans now say they would need to earn $233,000 on average to feel comfortable as per a recent Bankrate survey and $483,000 per year on average to…
3 Reasons to Start Social Security Before Age 65
You won’t get your full retirement benefit by claiming Social Security at any time before age 67, but Maurie Backman notes there are other considerations. Claiming at age 65 is still better than 62 as far as monthly income. Reasons…
How Long $750,000 Lasts in Retirement
The obvious answer to the above question is “it depends,” namely on where you live and how much you spend to how you invest. Eric Reed explains that this sum is generally adequate and explains how to make it last.…
When to Snag Social Security Benefits at Age 62
Experts almost universally state to delay benefits as long as possible to garner the highest amount each month for life. But, a majority of Americans continue to defy that advice and claim before full retirement age (now 67). But when…
Social Security Isn’t as Great as People Think
It might take actually receiving benefits to realize the limits of America’s most popular social insurance program, but Maurie Backman covers three important features here. First, your benefits won’t come close to replacing your income in full. Figure about 40%…
Use Social Security To Multiply Your Retirement Savings
Jamela Adam notes that $1,827 per month is the average Social Security retirement benefit in 2023. With the right strategy, recipients can use these funds to multiply their retirement savings and achieve the comfortable retirement lifestyle they desire. Adam has these five…