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Can I Get Money From My 401(k) at 55?
Yes, yes, yes is the answer to can you get penalty free access to 401k funds before the well known age of 59 1/2, where the penalty no longer applies. But, as Christy Bieber notes in this piece, it’s a narrow…
Does Social Security still mail out checks?
With all the uproar over slowing mail service in this country, who is right in the “Social Security recipients no longer get their checks by mail.” Well, a tiny fraction actually still do, and Daniel Dale of CNN explains as…
2 High-Risk Social Security Strategies For Tough Times
Covid-19 is creating financial problems and angst for many, but Christy Bieber points out in this piece that there are some unique options to consider. You don’t have to just give up and accept permanent lower Social Security benefits if…
Joe Biden & Social Security
Neither of the major party candidates talks about Social Security changes often, even though the program is barreling toward insolvency in less than a decade, a situation made worse by the pandemic. Still, Biden has out forth some proposals to…
Is payroll tax deferment a blow to Social Security?
Maurie Backman takes issue with President Trump’s executive order on payroll tax deferment. As she notes, the deferment is not so much a problem, as the taxes will be collected, just later in the year. She states, “The problem, however,…
Get Your $500 if on Social Security & You Didn’t Receive It
Zack Friedman of Forbes notes that many seniors with dependent children did not receive a $500 dependent payment under the CARES Act (stimulus bill) passed in March. A senior with a dependent child age 16 and younger had to visit the IRS website and use the…
What’s the Best Age to Claim Social Security for 60% of Retirees?
You can claim Social Security benefits as early as age 62, and they will be the lowest monthly amount to which you are entitled, though you’ll get more checks. Wait until age 70 and the monthly amount is the highest…
Where Will Your Retirement Savings Be 10 Years from Now?
As Catherine Brock reports in this piece, Americans aren’t even sure how much money they’ll need to retire never mind predict the balance in their retirement savings decade from now. Social Security’s on-line statement can people give a rough estimate of future benefits,…
Factors to Consider Before Claiming Social Security
The key to getting the most out of the Social Security program is working hard to boost your income while you’re still employed and then choosing when to begin receiving benefits thoughtfully according to Kailey Hagen of The Motley Fool. …
3 Reasons Retirees May Regret Claiming Social Security at 62
When one should start their Social Security benefits is such an important question– age 62, 66, 67, 70 or any age in between? Christy Bieber of The Motley Fool states there are three reasons why you may wish you hadn’t…