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Boosting Your Retirement Nest Egg
It’s pretty well known that your monthly Social Security payment isn’t enough to live on comfortably. In fact, Social Security was never intended to be one’s sole source of income in retirement, and many beneficiaries get, at most, only 40%…
All About Working While Collecting Early Social Security Benefits
It catches a lot of people by surprise, but if you claim your Social Security benefits before reaching your full retirement age (FRA) and continue to work, Social Security imposes an earnings limit which, if exceeded, will result in some…
The Elusive Maximum Social Security Benefit
Yes, there is a maximum Social Security retirement benefit, but don’t interpret that to mean that you can actually earn a higher benefit than you will be paid – you can’t. The so-called maximum Social Security benefit, which for 2022…
Maybe You Shouldn’t Wait Until Age 70 to Claim Social Security
Sure, waiting until you are 70 years old to claim Social Security will mean a monthly benefit up to 77% more than it would be at age 62. But the reality is that many people, for a variety of reasons,…
Your Lifetime Earnings Record, and How It Affects Your Social Security Benefit
Many don’t realize that their lifetime earnings history is used to compute their Social Security benefit – specifically, the highest earning 35 years of earnings you’ve had over your lifetime. Your earnings in those years are adjusted for inflation, totaled…
You May Get a Smaller Social Security Benefit Than You Expect
What do you expect to get from Social Security? Most will probably say they have no idea, but nearly everyone will say they want to get the most possible. Regardless of how close you are to actually retiring, it would…
Advice From a Retired Social Security Expert
Tom Margenau enjoyed a long and successful career with the Social Security Administration and, now retired, writes a regular Social Security & You column for the Arizona Start media outlets. Tom’s articles are always enjoyable and an easy read, sometimes…
Sometimes, Claiming Social Security Early is the Right Move
Most advisors, present company included, often advise delaying your claim for Social Security benefits as long as possible so that you can get a higher monthly amount. But, most advisors will also concede that there are certain situations when claiming…
A Big COLA Increase? Not So Fast
Here we go again – various pundits trying to look into their crystal ball and predict what next year’s Cost of Living increase will be. On top of the 5.9% increase awarded for 2022, some are suggesting that the next…
Social Security Benefits Can Be Lost!
Most of us believe that once we claim our hard-earned Social Security benefits, those benefits are ours to keep forever. And, that’s largely true, except that things you do or don’t do can, indeed, cause you to lose some or…