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Sometimes, you do get a second chance
The decisions you make regarding Social Security will have a huge impact on your retirement, so claiming benefits strategically is a wise idea. So, what happens when you make a mistake? There are in fact three Social Security mistakes you…
The one cost that worries people the most: Healthcare expenses
According to a recent report from financial institution Primerica, it found 69 percent of middle-income Americans are concerned that they won’t be able to afford to pay for a major medical expense. Surprising, that’s more than 43 percent who are…
Social Security: Instant reward versus regret
Money and rationality don’t always mix and that is especially true with retirement. One way to address the fears and anxiety that may interfere with rational decision-making to apply insights from behavioral finance experts. The attached article outlines four decisions…
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…