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How to Maximize Your Social Security Benefit
Many so called experts peddle books or subscriptions for a fee promising secret ways to get more in Social Security benefits. But, Maurie Backman notes three things all can and should do to maximize their monthly checks. First, work for…
Is 2021 Your Year to Claim Social Security?
Christy Bieber notes it is important to ask yourself at least two vital questions before starting Social Security benefits in 2021. The answers will help you make a choice about whether to move forward with filing a claim or whether…
Score a much higher payday from Social Security
Did you know that any money you remove from a Roth IRA account will be yours to keep tax-free and won’t count as income for Social Security tax purposes? That’s right, and it’s so important to make this and two other moves to…
What Social Security Might Look Like When Money Runs Out
Social Security is expected to run out of money in 10-15 years, as in the surpluses will be exhausted. Several options for changes have already been floated to deal with the budget shortfall and they include: Raising the payroll tax rate…
Huge Raise in Social Security for 2022?
Anyone who shops for groceries or fills their gas tank is having a bit of late 1970s “sticker shock” as of late. While inflation is not in the double digits like the bad old 1970s, it has seen an uptick. If…
Inflation spike and the Social Security COLA
Alicia Munnell says it plainly– the size of the cost of living adjustment (COLA) shouldn’t matter if purchasing power is maintained. If inflation is 5% and folks get a 5% raise or if it’s 2% and they get a 2%…
3 Surefire Ways to Grow Your Social Security Paycheck
Maurie Backman notes that the money you save for retirement in an IRA or 401(k) plan could run out at some point. Social Security, however, is guaranteed to pay a monthly benefit for life. For this reason the higher a paycheck…
When claiming Social Security at age 66 makes sense
Most experts decry taking Social Security benefits at age 62, the earliest and most common age most begin them, because the monthly checks are reduced by 25-30% over starting them at full retirement age, now 67 for most. Waiting until…
One Move Will Guarantee Larger Social Security Checks in Retirement
Kailey Hagen lays it out quite simply– work more and earn more now. Social Security uses one’s highest 35 years of wages to calculate monthly benefits. So maximizing earnings in your working years is the single greatest thing one can…
Worried your nest egg will fall short?
Running out of money is the number one retirement concern of most people in or approaching retirement. The average Social Security benefit pays $1,544 a month, which is not a lot of money when you consider some of the expenses…