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Social Security Strategies to Bankroll Your Golden Years
Reliance on Social Security as a key income source is common for most retirees. So it makes sense to get the highest monthly benefit one can. But too many do not plan. Christy Bieber’s piece here advises folks to work…
2 Must Knows On Social Security
It’s a complex program but near universal, as most Americans will collect a monthly check from Social Security in old age. But if there are at least two things one should understand, Maurie Backman says they are at the least…
This Social Security move allows you to ‘stick it’ to Uncle Sam
Brett Arends provides yet one more reason to wait to collect Social Security. Starting benefits at age 70 can hike your monthly pay by up to 80%. It is a better option for all but those in poor health. Arends…
Social Security Day of Reckoning Coming Soon
Anyone even slightly in the know about Social Security is aware a day of reckoning is coming. The program is currently paying out more in benefits than is collected in payroll taxes. That can only continue as long as there…
Mitigating “Sequence of Returns” Risk
It’s a mouthful of a phrase– sequence of returns risk. What is it? Sarah O’Brien of CNBC explains how those approaching retirement should construct their investment portfolios to be more conservative. The goal is to avoid being forced to sell…
Don’t Run Out of Money in Retirement
It’s often people’s greatest fear as they age into retirement– will I have enough to sustain me? Since we don’t typically know how long we will live, this proves challenging to manage. Christy Bieber says 77% of Americans are at…
Why Wait Until 70 to Claim Social Security?
It’s something so very few do– wait until age 70 to begin monthly Social Security benefits. Maurie Backman stresses the 8% per year you get from age 67 to age 70 by waiting. Where can you get 8% guaranteed? Answer:…
Social Security Cuts up to 30% for Millennials
Christy Bieber explains recent research showing that if young people follow through on their current retirement plans, they’re at serious risk of shrinking Social Security benefits by 30%. Why? The average age when millennials say they’ll retire is 61, according…
The COLA That Wasn’t
Maurie Backman explains how cost of living adjustments (COLAs) have historically done a poor job of helping seniors stay afloat financially in light of inflation. This holds true even when COLAs are fairly generous, as was the 5.9% increase of…
Four Essential Questions to Answer Before Starting Social Security
Selena Maranjian starts her piece with some startling facts from the Social Security Administration (SSA): “Among elderly Social Security beneficiaries, 37% of men and 42% of women receive 50% or more of their income from Social Security.” Further, “… 12%…