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9 ways to ‘life hack’ your way to larger Social Security benefits
Robert Powell writing in USA Today writes about how to optimize Social Security monthly benefits. While not rocket science, Americans pay too little attention to such an important issue or worse, make devastating mistakes when signing up. The 9 “life…
3 Social Security Myths That Could Cost You Big Time
Katie Brockman reports on a survey from Nationwide that found 91% of Americans age 50+ don’t know what factors influence the maximum benefit amount they can receive. She reports in this article on three myths that could further confuse folks and costs…
5 Facts About Social Security Benefits People Don’t Know
People may have a vague sense that Social Security’s financial health isn’t what it was. That point about looming across the board cuts coming for all in 2035, absent reform, is but one of five points made in this Motley…
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…