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Ask Larry: Retroactive spousal benefits, taxes on Social Security, and more
In his regular “Ask Larry” Social Security column, contributor Laurence Kotlikoff responds to questions about collecting retroactive spousal benefits, taxing of Social Security benefits and collecting spousal benefits at one’s full retirement age. Additionally, In this regular Forbes Social Security…
2019 Social Security changes may affect you
Most who follow Social Security understand that the program is updated each year to account for changes in inflation, wage and other indices to keep it current in today’s financial world. That’s mostly good news when it comes to your…
A higher average Social Security benefit – Good news for seniors
Except for a few years in the recent past, Social Security recipients have received at least a modest increase in their benefit amount as a result of the annual Cost of Living Adjustment (COLA). COLA is base upon the annual…
Meager savings for retirement? Here’s how to catch up.
It’s an alarming fact: About 30% of today’s baby boomers have no retirement savings. And that could mean some pretty lean “golden years”, because Social Security isn’t, and was never intended to be a sole source of retirement income. But…
Should you call Social Security, or Medicare?
Social Security, although a totally separate program from Medicare, nevertheless acts in many ways as the Medicare program’s administrative arm. For example, to enroll in Medicare or to get a replacement Medicare card, you call Social Security. But when you…
Should you claim Social Security at age 62?
It’s the age old question: When should I claim my Social Security benefits? Although it’s possible to get a much higher benefit by waiting until your full retirement age, or even to age 70 to apply, there are also a…
Social Security scammers trying even harder to get your money
Seems there’s no end to the lengths that scammers will go to try to get at your money, and for several years now Social Security beneficiaries have been one of their prime targets. But despite media efforts to warn the public…
Take these financial steps when you are one year away from retirement
You’re now in the home stretch, one year from retirement. So, first things first: when will you take Social Security? Will you claim your benefits as early as possible and take a permanent reduction? Or will you wait until your…
Take these financial steps when you have five years to retire
You’re five years away from retirement, you can see the light at the end of the tunnel. So, what is the first thing you’re going to do? Not sure? The attached article outlines the financial steps to take for a…
Boost your retirement savings this year
We all make New Year’s resolutions or goals but how many of us succeed in accomplishing them? If your goal is saving more for retirement, there is a simple way to accomplish this one. Most experts agree the easiest way…