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How Working During Retirement Will Change Your Social Security Benefits
There are a myriad of reasons that people choose to work during retirement, from enjoyment o necessity to somewhere in between the two. According to a survey from the Insured Retirement Institute, about 33% of baby boomers say they plan to work…
Smaller Social Security Raise Predicted in 2020
Forget a repeat of the 2.8% cost of living adjustment (COLA) Social Security recipients received this year, according to Dan Caplinger’s analysis of inflation data for this year to date. He explains the CPI-W index used to calculate the COLA…
Record High Reliance on Social Security
Social Security has been wildly successful as an anti-poverty program, but it was never intended to become a primary source of income for older Americans. The program only replaces about 40 percent of pre-retirement income. The Gallup Organization’s new survey, however,…
Will you tell the truth about your retirement?
Retirement planning is almost always about the financial aspects of your future – do you have enough money saved? Will you have enough income to pay for your essentials during retirement? And things of that financial nature. But almost equally…
Social Security cuts may happen in 15 years
According to a report by the NY Times, Social Security will have depleted it’s reserves in about 15 years, which will result in a cut in benefits at that time. That is, unless Congress starts working together across the aisle…
Use Social Security to secure your retirement savings
According to pundits, about half of Americans will suffer an income shortfall to cover essential expenses in retirement. That’s a pretty sobering statistic for anyone trying to plan for their so-called “golden years.” but one which should cause us to…
Don’t make these mistakes in retirement
Most of us look forward to the day when we can finally hang up our work clothes for good and laze idly in the sun dreaming about what we might want to do tomorrow. And most people know that planning…
Will Social Security go “bankrupt?”
It might be called a play on words, but Social Security can never really go “bankrupt” in the sense that it won’t be able to pay any of it’s obligations to America’s senior citizens. But that doesn’t mean that there…
Where does Social Security fit in your retirement plan?
Let’s face it – Social Security will be an important part of nearly everyone’s retirement plan. Given that fact, it makes a lot of sense to pay close attention to when and how you claim benefits, because what you get…
Retirement Savings: How much should you have?
One of the biggest factors in any retirement plan is how much money you will need to have saved before you start your golden years. That is, how big should your nest egg be to cover expenses over and above…