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Delaying Social Security remains important despite uncertainty
Even with an unclear future for the Social Security system, delaying benefits until age 70 remains a helpful tool for maximizing retirement savings, according to financial experts. Courtney Degen quotes a number of wealth management planners who concur with the…
Bankroll Your Retirement with 3 Social Security Strategies
Most news over the last few days about Social Security is about the large monthly increase coming in January. But, Kailey Hagen writes about three moves that can help one get more buying power out of their benefits. The first…
Take Social Security at 62 or wait?
Amy Legate-Wolfe shares three reasons to take Social Security sooner rather than later, even as early as age 62. It’s not the normal advice most give, but the author states poor health, high debt, and a partner who earns more…
Good News for Those Who Work While On Social Security in 2023
The earnings limit is going up, and that’s great news for those aged 62 to 67 who want to work some and still collect Social Security benefits without any reductions. The earnings limit for those under full retirement age is…
Social Security – A Tad Harder to Qualify
Everyone is eligible for Social Security retirement benefits, right? Well, not quite. Most is not all. You need 40 quarters of work to be eligible (or “vested”) to get benefits later in life. The minimum that must be earned goes…
Should the Young Care About Social Security? YES!
“I assume it won’t be around by the time I’m retired. Why should I think about it?” That’s what a friend of Charlotte Cowles of The New York Times, author of this piece, said to her. It’s a fairly common…
2023 COLA: 5 Things to Know
Tobias Burns, writing in The Hill, goes beyond the headline that Social Security recipients will get an 8.7% hike in monthly benefits effective in January 2023. First, he explains it merely allows seniors to break even. Second, the COLA is…
COLA Downsides: Insignificant Increase Plus Higher Taxes Due
It will be the largest cost of living adjustment (COLA) since 1981 when the Social Security 8.7% increase takes effect in January 2023. Some advocates still proclaim seniors are losing ground and/or that the increase fails to keep up with…
How Does Social Security Define “Disability?”
The statistics are a little muddy and much depends on age, but the probability is that about one in four workers will become disabled at some point before they retire. The good news is that Social Security can be an…
Is 63 Too Late to Start Saving for Retirement?
In this Yahoo! article, Smart Asset certified financial planner Brandon Renfro fields a question from a 63 year-old who has no retirement savings and will have only Social Security income upon retirement. This is a situation far too often seen…