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Four strategies to boost your Social Security check
In 2021, an average of 46 million Americans per month will receive a Social Security benefit of $1,544. The Social Security maximum benefit that an individual can receive per month in 2021 is $3,148. So how do you get a…
Retirees can be resilient and flexible and still be satisfied with life
Although many studies conclude that most pre-retirees haven’t saved enough money to reach a common goal for their retirement of replacing 70 to 80 percent of their gross pre-tax pay while they were working, but is this truly a crisis?…
The do-over option
Unexpected life changes may occur after you apply for Social Security retirement benefits. If you change your mind about starting your Social Security benefits, you can cancel your application for up to 12 months after began your retirement benefits. This…
Compelling arguments to start saving now
Bryce Sanders, president of Perceptive Business Solutions Inc., explains as a benefits plan professional, you might need to train employees on the idea of starting early to plan for retirement is better than waiting. However, if you need to make…
What Social Security’s shortfall means for you
The Social Security Trust Fund, which pays retirement and survivors benefits, will be able to pay scheduled benefits on a timely basis until 2033. At that time, the trust fund’s reserves will become depleted, and continuing tax income will be…
Strategies for lowering your health care costs in retirement
According to the experts at Fidelity, you will need about $300,000 to cover your health care costs, that’s even with Medicare, in retirement. That amount can seem daunting, but Kate Ashford points out some steps you can take to keep…
Are you on track to receive your maximum Social Security benefits?
Social Security benefits represent about 33 percent of the income of the elderly. Among elderly Social Security beneficiaries, 50 percent of married couples and 70 percent of unmarried persons receive 50 percent or more of their income from Social Security.…
Five ways to apply for Social Security benefits online
Social Security offices are currently open only for in-person appointments for limited, critical situations, depending upon local office; this leaves many people frustrated and confused about applying for their benefits. The good news, there are five ways to apply for…
Should you claim benefits at 62?
How often do you hear that “I’m going to claim my Social Security at 62 to get all my money back that I paid into the system.” First, that is not a good reason; Social Security is a pay-as-you-go system,…
Will I still get spousal Social Security benefits after my ex-wife dies?
Jim Blankenship of MarketWatch has a lengthy piece here that explains spousal benefits. The specific topic here is what happens when your ex-spouse dies and you have been collecting spousal benefits off of him/her. The answer is the benefits cease. …