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The two situations in which it just doesn’t make any sense to wait to collect your Social Security benefit
When to start collecting your Social Security benefits is a critical financial decision that will affect your entire retirement. Majority of people know that claiming early and you’ll get smaller monthly payments or wait and see those payments grow. However,…
This misconception could cause millions of Americans to wind up cash-strapped in retirement
The data from the U.S. Government Accountability Office tells us that nearly half of workers 55 and older are creeping toward that milestone without any personal savings to show for. Many workers mistakenly believe that Social Security will suffice; however,…
What Every Senior Should Know About Social Security
The economic crisis of the 1930s led to failed businesses and banks. Steep unemployment, homelessness, and hunger caused widespread anguish in America during the period known as the Great Depression. In 1935, the Social Security Act was signed into law…
The Importance of Checking your Social History
Despite the steps that Social Security has taken to honor that they believe is an increasing preference by the public for doing business online, it appears there is still not a lot of checking of earnings records going on. As many know,…
An Alternative to Drawing Benefits Early
It’s not really a revolution, I suppose, but a study published in the Journal of Pension Economics & Finance suggests the merit of tapping deferred compensation funds IRAs, etc.) in lieu of beginning benefits before full retirement age. This strategy would,…
Potential Pitfalls of The Social Security Expansion Act
You know the old adage, “If it sounds too good to be true…” Well, despite the attractiveness of some excerpts from the The Social Security Expansion, that adage might have considerable merit. The Motley Fool’s Sean Williams, in a post today…
Another Day, Another Serious Scam Alert!
It seems like every day, news of an emerging scam involving senior hits the airwaves and news media, Today is no exception, with the Ulster County District Attorney’s Division of Consumer Affairs weighing with a warning to be on the lookout for…
New Retirement Thinking
For those of us already in or close to our retirement years, it might seem strange way of thinking, but an Ameriprise Financial Study recently illustrated that many folks approaching retirement are postponing “pulling the plug” in order to provide…
Today’s Retirement Planning: It’s a Different World
The three-legged stool? The 4% withdrawal metric? The pension you could rely on? Social Security as a guaranteed piece of the puzzle? Unfortunately, for the person beginning to take a serious look at financial planning for retirement, these old standbys are…
Baby Boomers and the “Retirement Crisis” They Face
Quite a bit has been written about, and debated, what many financial folks are projected will be a major financial crisis for seniors moving intotheir retirement years. Whether you believe the crisis is real or not (some don’t), check out this…