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Attention Women: Retirement Planning is Taking on More and More Importance
Retirement planning–especially the financial details associated with it–is growing in importance for everyone, and particularly for women. Investment Advisor, Stacia Williams in a post today on Kiplinger.com, stresses this point, focusing in part on the nuances of claiming Social Security benefits.…
A Quick Look at the Rules for the Divorced
Divorced individuals need to be aware of the rules governing the availability of Social Security benefits available to them, especially since not fully understanding the details could lead to missing out on substantial payments. For example, many folks are not…
Military Service and Increased Social Security Benefits
(Source – blog.ssa.gov) A misleading letter, from an unknown source, is circulating online that mentions a $1,200 special Social Security earnings credit for people who served in the military. We want to make sure veterans with active and inactive service…
It’s important to keep tabs on Social Security changes
“The only constant in life is change”-Heraclitus. Almost every year, the Social Security program is updated to reflect changes such as cost-of-living adjustments, earnings limit, and wage cap, to name a few. So, what are the specific changes you need…
How FRA is changing if you’re turning 66 in 2022
Are you turning 66 this year; do you plan on filing for your Social Security benefits on your birthday? If so, there is something important you should know that could affect the amount of income you get each month for…
Should you claim benefits as soon as possible if you aren’t in good health?
Financial experts advise if you want to maximize your Social Security benefits, you should wait until you are 70 to claim your benefits or at least until you reach your full retirement age (FRA). But, if you’re in poor health,…
Medicare Advantage Open Enrollment Period is currently underway
The annual Medicare Advantage Open Enrollment Period is currently underway but ends March 31st. If you are unhappy with your current Medicare Advantage plan, you can either enroll in a new Advantage plan or drop your Advantage plan and return…
Student loan debt prompts postpone of retirement
According to the Consumer Financial Protection Bureau, from 2005 to 2015, the average amount of student loan debt for borrowers 60 and older doubled, causing many parents and grandparents to delay their retirement. Parent PLUS loans, also known as Direct…
What to know about combining retirement accounts with your spouse
We all know successful retirement planning for married couples involves a great deal of communication and setting mutual goals. But should you set up joint retirement accounts? Is there such a thing? No, but there’s something called “spousal IRAs,” which…
Could you be on track for a big Social Security benefit?
Nearly 70 million people in the U.S. receive Social Security benefits. But very few qualify for Social Security’s maximum monthly benefit. The maximum Social Security benefit in 2022 is $4,194; however, the average monthly benefit check many retirees will see…