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The “Average” Social Security Benefit
The Motley Fool’s Christy Bieber, in an article posted on their website, reports on the increase in the average monthly Social Security benefit payment for 2022. While she notes that it has increased by $92 as a result of the…
Filing Early? Be Certain You Understand the Implications.
Believe it or not, filing for Social Security benefits at the earliest possible age (62) is still statistically the most popular choice. There may be valid reasons why some folks make this choice, but one wonders if those who do…
Retirement Security: Understanding (and Dealing With) Financial UNcertainties
Much has been written in financial media about the simple premise that Americans typically do not–or are not able to–save sufficiently to ensure a comfortable retirement. In a post by Transamerica Center for Retirement Studies carried on prnewswire.com, the key indicators of retirement…
The Argument for “Easing In” to Retirement
Sudden movements can be scary. If you have a dog, for example, you know that quick, unexpected gestures often cause them discomfort. Life is a lot like that, and most folks, especially seniors, like to carefully plan changes in their…
More Thoughts on the “When to File” Question
On the surface, it sounds like a fairly simple decision: file early and get less in monthly benefits but for a longer time, versus wait as long as you can, maybe to age 70, and get a higher monthly benefit…
The Importance of Getting Social Security Guidance
As documented in a post by Investment News Contributing Editor Mary Beth Franklin, the volume of retirements has recently blossomed, outpacing the rate of retirements seen in the period following the Great Recession through the pre-pandemic era of 2019by a wide margin.…
The Elusive Maximum Monthly Social Security Benefit
The highest monthly benefit paid by Social Security this year is $3,895, and with the 5.9% COLA coming in January, that monthly max goes to$4,194. So, the question on the minds of many retirees and future retirees becomes “How do I…
Thoughts on coping with cash shortfalls in retirement
The issue of an inadequate nest egg to support financial needs in retirement is nothing new, but there are some fundamental actions you can take both pre- and post-retirement that could help ease the pressure during that life phase. The…
What should I do if I get a call claiming there’s a problem with my Social Security number or account?
(Source: Social Security Administration) If there is a problem, we will mail you a letter. Generally, we will only contact you if you have requested a call or have ongoing business with us. The latest scam trick of using robocalls…
Lack of savings again found concerning by more than half of American workers
A recent Bankrate survey reiterated what has been a recurring concern among American workers looking ahead to retirement. In fact, “…a full 52 percent of American workers say their retirement savings are not where they need to be.” Fox 25 reporter Mireya…