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Stretching Your Social Security Income
Especially in these times of high inflation, stretching every dollar of your retirement income is important. Fact is, most people who collect Social Security say it represents a major portion of their retirement income and, sadly, for some it is…
Retiring? Here’s where to stash your nest egg
Retirement should be a time of relaxation, and worries about your nest egg shouldn’t be keeping you up at night. The best way to avoid such stress is to make sure your retirement savings are safe and providing you with…
How to get a higher than average Social Security benefit
The average Social Security beneficiary receives a little over $1,800 per month, or about $22,000 per year, in benefits. Of course, “average” means that a lot of people earn less and some people earn more but, in any case, it’s…
Social Security for Divorced Spouses
Social Security is an extremely complex program, by its nature spawning many misconceptions about who is eligible for benefits, and when those benefits can begin. The rules surrounding Spousal benefits, in general, are some of the most difficult rules to…
The Easy Way to get more Social Security
Here’s an important fact – Social Security will not replace more than 40% of the income you had before you retired, so unless you plan to drastically scale back on your living expenses after you retire (and for most that…
Supplement Social Security with these 3 sources of income
Since Social Security replaces a scant 40% of pre-retirement income, retirees inevitably will find they need other income to survive. Savings can fill the gap of course. Maurie Backman suggests these sources: a CD ladder to take advantage of rising…
How Much Money Should You Be Saving Every Month at 50?
At age 50 people are just over a decade from beginning Social Security. To that end, Christy Bieber states by the time you are 50 years old, you should have saved about six times your annual salary for your retirement.…
Social Security Tips for Gen Xers
Kailey Hagen says Generation X workers (aged 43-48 now) should be doing these four things to prepare for retirement: 1.) Remain in the workforce at least 35 years before claiming to avoid any zeros in the benefit calculation; 2.) Do…
That Elusive Max Social Security Benefit
You can forget about getting $4,555 per month in Social Security benefits. While that is the current maximum benefit, James Brumley explains the Herculean task it would be to achieve that. One would have to work 35 years or more…
Most Important Social Security Number to Ever Know is 40%
“If your Social Security check seems inadequate for your needs, it’s because it’s designed that way.” So says Jacob Wade in this piece. He wants all Americans to fixate on the number 40% because that’s about all that Social Security replaces…