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Early retirement is one of the worst money mistakes
Economics professor and frequent CNBC contributor Laurence Kotlikoff pulls no punches in this piece: “For most Americans, early retirement isn’t just a decision to take the longest vacation of their lives — it’s one of the biggest money mistakes that they will…
3 Reasons You’re Better Off Claiming Social Security at 70
Few do it, and far fewer even know about it. It’s called waiting until age 70 to start Social Security benefits? Buy why give up 8 years of checks in the meantime? Three reasons. 1.) To maximize your monthly income;…
This Dangerous Social Security Assumption Could Wreck Your Retirement
Maurie Backman grabs reader attention with her headline, and the point of this article is straightforward– don’t rely too heavily on Social Security. The program replaces less than half of pre-retirement income. Then there is the insolvency issue and across…
What To Expect From Social Security in 2022
This quick read by John Csiszar highlights some of the changes to Social Security other than the 5.9% cost of living adjustment. Congress did not change any law, so most of the changes are automatic and due to rising inflation…
Why You Can’t Count on Boosting Your Social Security Benefits
Articles and books abound about how to boost, increase, or otherwise get the most out of Social Security. The advice can really be boiled down to one strategy– delay. Wait until full retirement age or even max retirement age of…
Maximum and Average Social Security Benefits
The differences between the average Social Security benefit of $1,657 per month and the maximum one of $4,194 are pretty stark. While most would prefer the higher amount, as Christy Bieber explains, that is unattainable to most. Here’s why. To…
Toxic Retirement Advice You Must Ignore
Maurie Backman takes on three retirement myths that could costs seniors dearly. The falsehoods are these, and she explains each thoroughly in the full article: 1.) You can live on Social Security alone if you make lifestyle changes; 2.) Relocating…
10 Reasons You Should Claim Social Security Early
Financial experts almost always recommend people delay starting Social Security monthly benefits as long as possible to maximize the amount. Benefits increase each month of delay past 62, with the largest increases of 8% annually from 67 to max age…
How to Set Retirement Savings Goals You’ll Actually Follow
Social Security is but one part of retirement savings, but since it only replaces 40% of pre-retirement income, additional funds are necessary. Christy Bieber explains four simple steps to set retirement savings goals you can live up to. The first…
Who does and does not have a retirement account?
Given the brevity but importance of this piece, it is copied in full here by Alessandra Malito of MarketWatch, entitled, “More than one-third of Americans say they’ve never had a retirement account.” Click on any of the links for more…