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How To Get the Biggest Possible Social Security Payment
For 2021, the maximum possible Social Security benefit anyone can get is $3,895, obviously a lot more than the average monthly benefit of about $1500. So how can you get that maximum benefit? Well, it’s not easy, and if you’re…
Retirement Planning – “Down the Decades”
It’s hardly an earth-shattering revelation that starting to plan for retirement when you first start working is a smart thing to do. Trouble is, many Americans starting out are saddled with debt and, possibly, family obligations during their 20s, so…
Social Security Changes Coming Next Year
A new year is quickly approaching and, with that, annual changes to Social Security’s various dollar-based formulas have recently been announced. Many may have already heard that a rather measly Cost of Living Adjustment (COLA) will be coming, one even smaller…
More Than Half of All People on Medicare Do Not Compare Their Coverage Options Annually
(By Meredith Freed, Wyatt Koma, Juliette Cubanski, Jeannie Fuglesten Biniek, and Tricia Neuman For Kaiser Family Foundation, Published: Oct 29, 2020) Each year, people with Medicare have the opportunity to review their coverage options and change plans during the open enrollment period…
What is the retirement earnings test threshold for 2021
What is the retirement earnings test? When you claim Social Security benefits before reaching full retirement age (FRA) and continue working and earning above a certain threshold, you are subject to the retirement earnings test (RET). So what is the…
Retirement benefits satisfaction during COVID-19
The recent study conducted by Greenwald Research and Employee Benefit Research Institute (EBRI) on retirement benefits satisfaction during COVID-19 found while satisfied and knowledgeable about their retirement benefits, workers are interested in more education. About one-third want education and advice…
Picture the life you want in retirement
You’ve retired, so now what? According to the Mayo Clinic, the shifting of priorities and how you spend your newfound free time can make a big difference in your health and quality of life. In Nancy Clanton’s article for the…
Paying off your credit cards in retirement
Americans between the ages of 50 and 70 account for $376 billion in credit card debt according to data from the New York Federal Reserve. The total household debt for U.S. seniors has risen by 543 percent over the past…
Taking these steps can help boost to your retirement savings
According to a report from the Employee Benefit Research Institute, it found nearly half of workers have less than $25,000 saved for retirement and of those workers, more than one-quarter have less than $1,000 stashed away. No matter if you’re…
Don’t claim your Social Security until you’re taken certain these actions
The decision of when to retire and start your Social Security benefit is a very import one, so you should approach it thoughtfully and carefully. There are five signs that can help you in your decision when to retire and…