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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…
Why your Social Security check might be lower
Despite the largest increase in the Social Security COLA in forty years for 2022 some people may still see a lower Social Security payment this year. Jim Blankenship of MarketWatch explains how and why this can happen. Some of the…
How to Retire at Age 62 Without Claiming Social Security
It’s a common perception among a majority of Americans– stop work at age 62 (or close to it) and claim Social Security benefits. But is that wise? Are there other options? Maurie Backman explains that it pays to look into…
Don’t Chase a Higher Social Security Benefit. Do This Instead.
Many experts agree that seniors should try to maximize one’s monthly benefit for life, and seniors can do that by working a full 35 years and delaying the start of benefits until age 70. But is there a better bet?…