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Simple Social Security mistakes that will hurt you badly
The age at which you claim your Social Security benefits is among the most important financial decisions you will make in your lifetime. Unfortunately, far to many people cavalierly claim benefits without really evaluating the financial impact of their decision.…
Don’t torpedo your retirement by making these mistakes
Social Security was never designed to provide all of your retirement income, but nevertheless far too many people today rely on the program for a big part, or most, of their money in their so-called “golden years.” Per the Social…
Rising full retirement age means reduced benefits for some
In a somewhat hyperbolic approach to what is actually happening, this Motley Fool article by Dan Caplinger positions changes implemented decades ago to keep Social Security solvent as “stealth cuts” which progressively impact those turning 62 today worse than those…
More on Social Security’s Solvency Crisis
It’s not a new topic by any means, and there’s much talk these days about what will happen in just 15 fast-moving years if Congress doesn’t act to correct the problem. And here’s another informative post by PolitiFact senior correspondent Jon…
“Know Your Social Security Act” Will Help You Plan
A bill introduced in Congress by Rep. John B. Larson (D-CT) will go a long way toward ensuring that Americans thinking about their retirement years will have the information they need to plan effectively. The bill has bipartisan support. In the…
Planning for Income Taxes inRetirement
More than half of America’s seniors–those older than age 50–worry about the impact of income taxes on their retirement income stream. If you’re in that grouping, be aware that there are steps you can take to deal with that threat,…
Life Expectancy: A Critical Factor in Your Social Security Decision
As the decision point nears on when to begin collecting your earned Social Security benefit, one of the clear factors you need to consider is how long you’ll be collecting benefits. Nobody knows, of course, how long that will be,…
Millennials Falling Behind on Retirement Savings, Study Says
A study by Federal Reserve of St. Louis reveals that those with birth dates in the 1981 to 1996 range appear to be losing ground in the wealth accumulation race, at least as compared to older generations. Even worse, the study concludes…
Retirement: Puling the Plug Can Cause a Shock
After dreaming so long about the wonders of an unfettered life in retirement, so folks experience a rough transition often fueled by a sense of loss and disorientation. If you fall into that category, or are concerned that you might,…
One Way to Ease Into Retirement
If you’re looking ahead to retirement, and you’re close to “that age” but not completely convinced that you’re ready to take that big step, here’s an approach that might work for you. It’s called “test driving your retirement” and it’s…