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Boosting Your Social Security Benefit
In a “Latest News” post yesterday on this site, we discussed the somewhat “mythical” maximum benefit amount available from Social Security. As you probably know, it’s a benefit level virtually unattainable for most retirees. But that doesn’t mean there aren’t…
How to Get the Mythical Maximum Social Security Benefit
According to a post today on fingerlakes1.com, getting the highest amount of monthly payment from Social Security would require that your work record shows earnings of “…$147,000 or its adjusted equivalent for inflation for 35 years.” Unfortunately, only a very…
Attention Millennials: Social Security Basics You Need to be Aware of!
Millennials–those born from the early 1980s to the mid-1990s and early 2000s–are, of course, still years away from focusing seriously on Social Security and its place in their retirement plans. But they shouldn’t discount the importance of thinking about the…
The Importance of Knowing Social Security’s Basic Rules
There are thousands of specific rules governing the manner in which folks can benefit from our country’s Social Security system, but not being aware of a few of the most basic of these guidelines can cause you to make fundamental…
How hard is it to get the maximum Social Security benefit?
In 2022, the maximum monthly Social Security check is $4,194, but how many retirees receive this amount? To collect the maximum possible benefit, you need to do two things: be a high-wage earner for 35 years and delay your benefits…
Social Security rules for married couples
If you are married, when to claim your Social Security benefits should not be done in a vacuum. Like marriage itself, you need to work together to decide when to start receiving retirement checks because there are special rules in…
How to replace your Social Security card
You will need your Social Security card for various reasons: starting a new job or getting new driver’s license in some states. If you have misplaced your Social Security card, changed your name, or it is torn and tattered, you’ll…
Save now to stress less later about the cost of healthcare
The projected lifetime cost of care for a healthy 65-year-old is $404,253 – and that does not factor in long-term care costs, which could be as high as $100,000 a year. The recent survey conducted by the Principal Insurance company…
There are other retirement accounts besides 401(k)
Most people will tell you that 401(k) is the Cadillac of retirement savings accounts, and they are not necessarily wrong. 401(k)s have high contribution limits, and most come with an employer match. But, they are not the only retirement savings…
How do they calculate SSDI payments
The Social Security Disability Insurance (SSDI) program pays benefits to you and certain family members if you are “insured.” This means that you worked long enough – and recently enough – and paid Social Security taxes on your earnings. Also,…