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No magic fixes for Social Security
This MarketWatch opinion piece by Alicia Munnell lays out the stark choices to fix the financial health of Social Security as benefit cuts or tax increases, with the author preferring the latter. Charts are included to illustrate the options. But…
Eager beaver Social Security claimers hurt their retirement
“Grab it as soon as you can” has been the mantra from a majority of filers for Social Security for a number of years now, as folks are beginning benefits at age 62, the earliest possible time. Experts agree it’s a terrible mistake…
Wall Street, Coronavirus, and retirement
Did you know you can still get a guaranteed 8% return in this era of turbulence and coronavirus? Just continue delaying Social Security from full retirement age (66 to 67 depending on birth year) until the maximum age of 70. …
EMERGENCY rate cut by Fed
While it may not directly impact Social Security recipients, anyone with retirement funds in the stock market will want to pay attention to moves that the Federal Reserve Board makes. The half point rate cut today in the federal funds…
When to postpone retirement
Maurie Backman says it may make sense to keep working if certain factors pertain your retirement situation. The shorter you are on savings will likely mean having to work more years, as Social Security only replaces 40% of pre-retirement income. …
Things That Stink About Social Security
Maurie Backman notes the importance of the Social Security program for millions of Americans. But the program has aspects that many do not like. First is benefits are taxed at the federal level and 13 states. Second is what many…
Retire Rich by NOT Relying on Social Security
With Social Security replacing just 40 percent of pre-retirement income, it’s easy to state that a financially secure, even rich, retirement will require one to not count on the program alone. Saving and setting goals is the key according to Katie Brockman. She…
Still Time to Switch if you don’t like your Medicare Advantage Plan
If you’re not happy with the Medicare Advantage plan you signed up for last fall, then you’re in luck. That’s because until the end of this month, we are still in the Medicare Open Enrollment period which allows you to…
The Case for Waiting until Age 70 to Claim SS
Another article appearing in today’s posting makes a case for claiming Social Security at full retirement age. This article by Maurie Backman which appears at the International Business Times poses a much different scenario – waiting until you reach age 70…
What to do if you get a Suspicious Call From Social Security
Scammers and tricksters, cyber-criminals and down-right nefarious persons seem to be constantly trying to get at your personal information and, ultimately, your money. And sometimes this comes in the form of a phone call from a person who claims to…