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3 Harmless Things That Can Hurt Your Soc Sec Checks
Katie Brockman cites a survey from Nationwide that revealed 91% of workers age 50+ do not know how their benefit amount is calculated. With this in mind, her article here focuses on three mistakes she implores people not make: 1. not working a full…
What’s the Maximum Social Security Tax One May Owe in 2020?
Newsflash: you don’t pay Social Security tax on every nickel you earn. The wage cap will be $137,700 starting in 2020. Social Security taxes are 6.2% of your total salary, or 12.4% of your earnings if you’re self-employed. This means…
Should You Claim Social Security at 70?
It’s the maximum age one can claim benefits to get the highest possible monthly amount to which one is entitled based on one’s highest 35 years of lifetime earnings. So should everyone wait until age 70 to start Social Security…
Soc Sec Max Benefits & Spousal Benefits Explained
Boston University Economics Professor Laurence Kotlikoff explains the issue of maximum Social Security benefits. He highlights the fact that it can differ for two people with the exact same lifetime earnings if birth year is different. The author also explains…
Increase Your Social Security Benefits Now
Many articles are written about boosting Social Security benefits. Some nefariously suggest you must purchase a newsletter to get “the hidden secrets” and the like. But in reality, as Katie Brockman writes in this Motley Fool piece, it really comes…
3 Reasons Claiming Social Security at 62 Makes Sense
Christy Bieber’s article in The Motley Fool covers three reasons when it might make sense to take Social Security at age 62, despite all the experts saying to delay. First, you don’t have to worry about dying before you break…
5 Social Security Tips for 2020 and Beyond
Selena Maranjian of The Motley Fool suggests folks know and understand these five things about Social Security. First, know your full retirement age; it has increased as the 1983 change in the law reaches final implementation. Second, find out how…
How to Read Social Security Benefit Estimates
Bob Carlson, editor of Retirement Watch, writes an informative piece in Forbes on how to read the statement of estimated benefits mailed by the Social Security Administration (SSA) to everyone age 60 and older. This important statement has an individual’s…
Americans Who Think They Won’t Need Social Security Are Likely Wrong
Katie Brockman cites a survey from Provision Living that finds only 39% of Americans say they expect to rely on their monthly benefits to make ends meet in retirement. While it may sound good, Americans are way behind on what they should…
How Much Money Will You Actually Get From Social Security?
Kailey Hagen notes it’s partly up to people themselves as to the amount they will actually receive. This short but comprehensive article explains how benefits are calculated. Hagen provides the usual good advice to maximize income by working a full…