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If you’re going to rely on Social Security
Social Security provides the majority of income to most older adults. For about half of this group, Social Security provides at least 50 percent of their income. Social Security benefits are much more modest than many people realize. For someone…
One more reason to wait until 70 to take your benefits
You can begin your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to…
The maximum Social Security benefit
Every year we all hear about the maximum monthly Social Security benefit, but how many seniors receive that benefit? The answer; is very few. So, how does one get the maximum monthly Social Security benefit? Christy Bieber outlines the three…
Debt-ceiling debate prompts questions on Social Security’s future
As Congress debates the vote to raise the federal government’s debt limit, Social Security reform proposals are in the mix. Although the Social Security program lifts more than 22 million people above the poverty line, the program is facing a…
Your Social Security chart can help you decide when to start your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. You are entitled to full benefits when you reach your full retirement age. If you delay…
What you need to know about health savings accounts as you near retirement
Because of the “triple tax advantage” that HSAs offer, it is highly recommended people contribute the maximum every year. An HSA not only gives you a medical emergency fund, but you are gaining money through the tax benefits you experience.…
These moves could help you protect your future benefits
If you have not retired yet, should you be thinking about Social Security? The answer is yes. You should take steps during the course of your career to make sure you get the benefits you deserve later in your life.…
Is it possible to wait too long to start your benefits?
If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Your monthly Social Security benefits will increase by 2/3 of 1 percent each month you wait to start your Social Security…
2023 will be a savers year
Although the stocks and bonds market will continue to be volatile next year by all indications; however, retirement savers will have a banner year. Why? The IRS is increasing savings limits on many retirement savings vehicles. John F Wasik discusses…
The five W’s of retirement
Today, with life expectancy statistics in mind — and depending on your health and genetics — your retirement could last 30 years or more. So, it’s imperative to prepare not only financially but emotionally as well. There are five key…