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Social Security Benefits Likely to Increase, Even Without Biden Action
While President Biden did mention a number of changes he wanted to make to Social Security in the campaign, recipients need not wait for any of them to get a monthly benefit increase starting January 1, 2022. That’s because cost…
Social Security: Understanding the Basics
This informative article by Andrew Lisa on Yahoo Finance takes readers through the pre-Social Security days, where having as many children as possible was the only hedge against poverty in old age. Lisa explains the rationale behind enactment of The Social…
‘Auto IRAs’ are gaining steam in the states
Social Security will replace just 40 percent of pre-retirement income. Thus Congress and legislators in the 50 states have been busy in the past decade or more trying to find ways to goad people to save more. Enter the automatic IRA. …
Be Wary of Claiming Social Security at 70
Though financial experts almost unanimously agree waiting until age 70 to start Social Security benefits is a great strategy, Christy Bieber suggests it just may not work well for all. Indeed, one garners the highest possible monthly benefit for life by…
Why Set Up a Social Security Account?
Maurie Backman explains why it’s a good idea to sign up for a Social Security account, even if you’re still planning to spend a good many years in the workforce. It’s especially important to have an official Social Security account as…
When 62 May be the Right Age to Start Social Security
Maurie Backman reminds readers they can sign up for benefits at any age between 62 and 70. Full retirement age is between 66 and 67 depending on birth year. Claiming earlier means a cut in pay and claiming later mean a permanent monthly…
Should You Wait to Claim Social Security?
To take benefits at age 62 or not? It’s perhaps the biggest decision one might ever make. Christy Bieber challenges conventional wisdom in this pieces suggesting it may make sense for some to claim benefits early, even though they will…
Claim at age 62 or hold out for 70? What’s best?
Kailey Hagen explains her personal decision to wait until age 70 to start Social Security benefits, the age that will pay her (and anyone else) the maximum. It’s a choice so few make. On delaying she notes, “I believe it will…
Social Security’s 2022 Benefit Hike Is Looking Big
Is the second biggest cost of living adjustment (COLA) in 30 years for Social Security recipients just around the corner? Dan Caplinger says “maybe.” But don’t call it a raise. April’s inflation report was not just a one-off as some thought. Prices…
Five Steps to Maximize Your Social Security
Christy Bieber explains five things one can do to maximize their monthly Social Security benefits. Some things need to be planned for considerably far into the future. Waiting until your 60s to wonder how to maximize may be too late. …