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Stopping work and claiming Social Security needn’t go together
Although it’s a fairly natural reaction, claiming Social Security at the same time you stop working isn’t necessarily the right thing to do. Sure, the loss of employment earnings can make you nervous about your ability to pay your bills,…
How to make sure you’re ready to retire
Retirement is a huge step in your life. Moving from the structure of your daily work life to a more unstructured life style available in your so-called “golden years” may not turn out to be something you’re comfortable with. At…
Errors in your Social Security statement can mean lower benefits
Social Security is a massive program serving about 63 million American citizens, and with a program that size errors can and do occur. A key element in determining your Social Security benefit is your lifetime earnings record, which is why…
What to do if Social Security will be your main source of income
Although Social Security was never intended to be more than a supplemental source of income for retirees, it’s a fact that about 44% of unmarried seniors rely on Social Security for 90% or more of their income. That’s sure to…
Benefits if you were married multiple times
Retired after 33 years with the Social Security Administration, Tom Margenau is a regular contributor to Tucson.com with his “Social Security and You” column, answering questions from those seeking advice on Social Security matters. In this column, Tom explores the…
Don’t make these retirement planning mistakes
Planning for your retirement should always be on your mind at the beginning of each year, and if you want to stay on plan there are certain mistakes you should avoid making, including not contributing as much as possible to a…
After “open enrollment”, you may still be able to make changes to your Medicare plan
Even though “open enrollment” ended on December 7th, if you meet certain qualifications you may still be able to make changes to your Medicare coverage during a special enrollment period which runs from January 1st to March 31st. If you have one…
Want to retire early? Here are a few reasons to do it
Retiring early, before most others are able, is probably a dream everyone entertains at some point in their life. Of course, to do so requires you have the financial means to keep you comfortable in that early retirement but, if…
Plan retirement based on your biological age, not your chronological age
We’ve all seen people who look and act young, and we are surprised to find out they’re actually many years older than they seem to be. “You’re as old as you feel”, or so the time-worn adage goes. But recent scientific and…
How much you will need for retirement – and how to get it.
In this article by personal finance contributor John Wasik appearing at Forbes, the author explains that the amount you save will translate to how comfortable you are throughout your retirement, possibly even into your 9th or 10th decade. And there…