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Maybe Think of Social Security as Just a Bonus
With Social Security replacing a mere 40% of pre-retirement earnings, one cannot live on the amount alone. That’s why it may make sense to think of Social Security merely as a bonus, as Maurie Backman suggests in this article. She…
Understanding Social Security When You’re Past Retirement Age
Comprehending the Social Security system doesn’t end when one commences benefits for the first time. As John Csiszar explains, here is still much to know. He explains the age 70 maximum for increasing benefits, annual cost of living adjustments, when…
Up Your Retirement Planning Game
This piece in Kiplinger by Mark B. Fricks explains how retirement planning resembles chess due the complex number of factors at play in both endeavors. Step one is organizing retirement assets, preferably in Excel, and noting the tax treatment of…
Squeezing an Added 24% Out of Social Security
Selena Maranjian opens with a quote from Dwight Eisenhower reminding folks, “Social Security is not intended as a substitute for private savings, pension plans, and insurance protection…” The key to getting 24% more, though, is waiting. Each month and year…
Have a Backup Plan if Delaying Social Security
Experts across the board almost always say delay Social Security as long as possible, up to age 70, to get the absolute highest benefit for life once can based on one’s earnings record. Maurie Backman notes health will need to…
When to Claim Social Security?
Maurie Backman takes readers through one of the most difficult decisions they will make near retirement– when to claim Social Security benefits. The decision will have lifetime implications. Assessing longevity is the key, though it’s a very imprecise enterprise. Who…
Bipartisan Secure Act 2.0 working its way through the Senate
Gene Marks of The Guardian addresses a new law that would help employers and employees put more aside. The Secure Act 2.0 passed the House and is working its way through the Senate, where passage is expected. Marks notes the…
Here’s what you should have in your 401k in your 50s and 60s
While Social Security benefits will be important income for all one day, the 401k plan has become one of the most important retirement instruments, allowing people to use pre-tax money to help them save up for their non-working years. This…
Bitcoin as part of retirement savings?
With Social Security replacing a scant 40% of pre-retirement income, retirees and near retirees are constantly on the lookout for “return” and/or the “next big thing.” Is Crypto that thing? Soon investors will be able to add cryptocurrencies to their…
What You Need in Your Retirement Account at Every Stage of Life
Jami Farkas of Yahoo Finance has a great piece here that takes you from your 20s through the 60s. Planning must start in your 20s, though she states, “There isn’t one recipe for success when it comes to retirement planning.…