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Who can get Social Security benefits?
Most people think of Social Security as a retirement program for older senior citizens, and for about 70% of America’s Social Security’s 63 million recipients that’s exactly what it is. But Social Security is much much more than just a…
Social Security: Could higher China tariffs mean bigger COLA?
Social Security’s Cost of Living Adjustment (COLA) is meant to keep benefits for seniors who are dependent on the program at least on a par with inflation. COLA is determined each year by changes to the Consumer Price Index which…
Consider risk in your retirement planning
As the saying goes, “The best laid plans of mice and men often go awry,” and that is especially true in your retirement plan. Have you included “longevity risk” (outliving your money) in your plan? How about “inflation risk” or…
Where Social Security should fit into your retirement plan
There are few who would argue against the fact that Social Security will play an important role in nearly every American’s retirement plan. But unfortunately, far too many people overestimate what their Social Security income will look like when they…
Myths about Social Security can hurt you
It’s somewhat ironic that America’s most significant financial benefit program, Social Security, is a victim of an untold number of myths. The really unfortunate thing is that some of these myths can lead you to making the absolutely wrong decision…
Could delaying your Social Security claim backfire on you?
Many financial advisors are quick to tell you that the best way to maximize your Social Security benefit amount is to wait as long as possible, even up to age 70, to claim your benefits. And while that is quite…
Social Security for Married Couples
The considerations for deciding when to claim Social Security are different for married couples; after all, there are two people whose benefits are on the line. Making a claiming decision in a vacuum without fully understanding how that decision might…
What is the best age to claim Social Security?
It’s a very common question pondered by nearly everyone approaching eligibility for Social Security: when should I claim my benefits? Although the answer is never a simple one, the one piece of information available to help you decide is right in…
“Processing error” by Social Security affects 250,000 Medicare clients
In a glitch which has not been completely explained, Social Security experienced what they refer to as a “processing error” in January, which left about a quarter of a million Medicare Part C Advantage plans with unpaid premiums. Many beneficiaries have…
It’s never too early to begin planning for retirement
Planning for retirement takes decades. As Kailey Fralick reports here, everyone regardless of age should take these three steps. First is creating a retirement plan, which includes estimating both life expectancy and living expenses. Fralick details how to do this with estimating…