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Retirement on Social Security Alone?
It’s rarely advised by experts but possible to get through retirement on Social Security alone, according to Maurie Backman. But she is clear adjustments to lifestyle will be in order. Backman explains delaying the start of benefits will be more important…
Invest in S&P 500 Index Funds Right Now?
Retirees with even a little money lying around are looking for yield– any place that will return more than the near 0% rates banks are offering on savings accounts and CDs. Is the S&P 500 Index fund, a collection of…
4 Big Emergency Fund Mistakes You Can’t Afford to Make
Experts have said for decades that everyone needs an emergency fund. Those in the workforce must guard against sudden joblessness, an unexpected illness, or any of life’s other curveballs. Retirees on Social Security need savings to have any semblance of…
Want a More Comfortable Retirement? Forget About Social Security
Maurie Backman’s piece here notes that a comfortable retirement, rather than just existing, necessitates ample savings and/or investment income to supplement Social Security benefits. Social Security alone, with an average benefit of around $1,543 per month, just will not lead to…
3 strategies to maximize Social Security benefits
As Selena Maranjian notes, Social Security income alone is not likely to be sufficient for most retirees. The average monthly retirement benefit is $18,500 per year, or $1,547 per month. That’s why it’s important to maximize those benefits for life. the easiest way is…
17 Tips To Live Comfortably Off Just a Social Security Check
Social Security was never designed to be one’s sole source of income, as it only replaces about 40% of pre-retirement revenue. Savings and investments have always been the final piece required for a comfortable retirement. Gabrielle Olya of Yahoo Finance looks…
Social Security funds for impeachment? It is not so.
In this highly charged political climate, Social Security is often used as a political football. One party routinely accuses the other of “cutting” benefits. The fact that something akin to this will have to be done eventually lest everyone’s benefits…
26 States That Won’t Tax Your Social Security This Year
Retirees almost universally seek to maximize their incomes and can do so through claiming Social Security at the right age for them and by making other sound investment decisions with their other savings. But sometimes lost in the calculus is…
Biden, Social Security, and the wealthy
Tom Purcell of triblive.com discusses where the Biden Administration may go on the issue of Social Security reform. We hear so little on the topic from Biden, but he has noted several times that the wealthy should pay more. Purcell…
3 Seemingly Innocent Social Security Mistakes That Could Really Hurt You
Maurie Backman explains that your goal should be to get the most money from Social Security you can. To that end, one should avoid three seemingly minor mistakes. One, do not automatically sign up for Social Security when signing up for…