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Prepare for Social Security NOT to be Enough on Which to Retire
Keith Speights of The Motley Fool makes a few key points in his argument that Social Security alone is not enough for most in retirement. The most important move is to save as early and as much as possible. He…
Does Claiming Benefits at 62 and Investing Them Make Sense?
While most advisors say one should delay Social Security as long as possible (up to age 70) to gain the maximum benefit, Mark Blank says a strategy of grabbing benefits as early as possible (age 62) and investing them should…
Key Moves To Make While Working for Higher Social Security Benefits
Who doesn’t want a higher Social Security monthly benefit? But waiting until you collect benefits leaves almost no room to gain a higher payment. Maurie Backman explains there are steps one can take while still working, however. Because your highest…
Upcoming Social Security changes that could benefit some yet cost others
No substantive change in law is expected by Congress with regard to Social Security this year. Yet some changes occur automatically each January 1st, mostly as a result of inflation. Maurie Backman forecasts a robust cost of living adjustment (COLA),…
Working in Retirement? The Good and Not so Good
Stefon Walters explains that many people want to work during the first phase of retirement. Citing the statistic that $315,000 is required for a 65 year old couple to pay health expenses in retirement, one can see why many choose…
How to Obtain Social Security’s Maximum Benefit
People often wonder what the maximum Social Security benefit is. The answer is $4,194 per month for 2022. But how does one get that? Kailey Hagen notes quite truthfully that few people would ever qualify. Why? One must work 35…
Social Security’s Future Not as Bleak as May Seem
It is true that the Social Security system is under strain, as folks live longer and families have fewer children. The program’s trustees regularly note that benefits will be slashed automatically by about 23% in just over a decade. But…
Social Security Fundamentals
Although this article is written specifically for Federal employees and retirees, nearly all of the points discussed apply as well to the general senior population. The one exception is the paragraph which mentions the Government Pension Offset (GPO) which affects…
Everything You Need to Know About IRAs
The Individual Retirement Account (IRA) comes in many flavors – Traditional IRA, ROTH IRA, SIMPLE-IRA, and SEP-IRA. And how do employer sponsored plans like a 401(k) fit into the retirement panoply? Which types can reduce your taxable income, and which…
Social Security’s Online Services
Doing business online with Social Security “has never been easier” claims this blog by Social Security’s Dawn Bystry, who is Deputy Associate Commissioner of the Office of Digital Communications. And if you’ve ever tried calling Social Security for help, or…