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Claimed Social Security Too Early? There Are Options
Any claiming of Social Security benefits before full retirement age (FRA) comes with a permanent reduction in monthly checks for life. In fact, even claiming before age 70 (maximum age) will costs you money. Christy Bieber notes three things you…
Big Changes Likely for Social Security & Medicare Under Biden
Catherine Siskos of Kiplinger notes Joe Biden and the next Congress will have to confront entitlement program spending, whether they want to or not. Funding shortfalls and outright insolvency loom for both Social Security and Medicare, the latter coming first as early…
4 Things Most Retirees Should Never Do
Making prudent financial choices in retirement is essential to help ensure continued financial security for life. Christy Bieber of The Motley Fool details financial mistakes related to retirement that could be costly. She insists one should NOT do these four things: 1.) Go without…
Don’t Let These 3 Social Security Regrets Wreck Your Retirement
According to a 2019 study conducted by the Michigan Retirement and Disability Research Center at the University of Michigan, 22% of retirees say they have Social Security regrets. Claiming Social Security too early is among the regrets, with 1-in-5 retirees…
10 states disbursing huge Social Security checks
Why is it that a little more than 25% of the retirees in just 10 states bring home at least $6,000 in annual Social Security retirement benefits above the national average? That’s the focus of this piece by Foxbusiness.com. Before digging into the details as…
4 Things to Do Before Dec. 7th During Medicare Open Enrollment
While over 65 million collect Social Security retirement benefits, Kailey Hagen reminds the 62 million folks on Medicare that they need to turn their attentions from the election to the remaining time left to adjust their insurance plans. December 7th is…
3 Steps to Retiring Early Even if You Have No Savings
Many people dream of retiring early, but relatively few are able to do so. According to a survey from TD Ameritrade, 50% of Americans say they’d like to retire by age 60, but only 33% expect to be able to do…
Why Social Security Needs to Change the Way It Calculates Raises
Maurie Backman takes readers through how Social Security calculates the annual cost of living adjustment (COLA). She discusses why COLAs have been so low and what might be done to improve on that. Between 2002 and 2011, Social Security COLAs averaged 2.43%, in…
Might You Regret Waiting Until 70 to Claim Social Security?
The general mantra is always delay Social Security as long as possible, to age 70 if possible, to maximize your monthly benefit for the rest of your life. But is that universal advice, in other words, is it always wise? Christy Bieber…
48% of Retirees Aren’t Tracking This Major Retirement Expense
Health care is the wild card in retirement. Nearly half of retirees are not tracking what they spend on healthcare according to a recent study from insurance company Allianz Life. A paper from the Center for Retirement Research at Boston College…