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Avoid losing money when saving for retirement
According to a survey from Northwestern Mutual money is our most common source of stress. The average U.S. worker is still struggling to save for retirement which can be particularly stressful because of its complexity; given that our individual financial…
Are you willing to take a 30 percent reduction in your monthly benefit?
If you take your Social Security at 62, you are cutting your total monthly benefit relative to waiting to 66 or later. Fidelity Investments found if you start taking Social Security at age 62, rather than waiting until your full…
What is the key to your retirement future?
Eight out of 10 millionaires said investing in their employer-sponsored retirement plan – which included 401(k)s was their main tool for reaching millionaire status according to the National Study of Millionaires. The attached article takes a closer look at what…
Data shows baby boomers are short on retirement savings
According to a new survey by real estate company Clever, today’s baby boomers are short on retirement savings. The average boomer only has $136,779 in retirement savings but remember seniors are living longer these days and those who leave the…
Why it is important to check your earnings history
Social Security is an earned benefit and your earnings history is the record used to calculate your benefits. Social Security keeps track of your earnings you’re earned over your lifetime. Therefore, reviewing your Social Security earnings record is important; your…
What you need to know about Social Security Spousal benefits
Are you planning on claiming your Social Security spousal benefits? But what if your spouse never worked? Good news is that even if you never earned a paycheck in your life, you may still be entitled to Social Security. The…
Social Security: Why Cutting Benefits Is a Necessary Evil
Sean Williams explains that the long term sustainability of Social Security must be addressed soon. One way to do this is to bring in more revenue, either by raising the payroll tax from its current combined 12.4% on employees and…
The Suspended Social Security Number Scam
Social Security scams are on the rise. Over 35,000 people reported Social Security impostor scams to the Federal Trade Commission in 2018, up from 3,200 in 2017. If you receive a call from someone claiming to be from the Social Security Administration…
Americans’ Unique Retirement Expenses by Region
Housing, insurance, groceries, and healthcare are expense nearly all will endure in retirement. But as Kailey Fralick reports using AAG survey data, some areas of the U.S. have more unique retirement expenses. Residents of Northeast states were most likely to…
Americans Are Clueless About Social Security’s Filing Rules
Citing a recent survey by GOBankingRates where nearly 40% of respondents thought they could file for Social Security retirement benefits at age 60, Maurie Backman states it is imperative for folks to get schooled on the program’s filing rules. This piece explains…