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Why some Americans claim benefits early
You can start receiving your Social Security retirement benefits as early as age 62; however, you are entitled to full benefits when you reach your full retirement age. And, if you delay taking your benefits from your full retirement age…
Who gets my Social Security when I die
Social Security recipients ask: What happens to my Social Security benefits once I die? Your Social Security benefits will stop; however, your loved ones may still be able to claim on your earnings record. The Social Security Administration states, “Certain…
Keep these Medicare rules on your radar if you’re about to sign up
Medicare is the federal health insurance program generally for people who are 65 or older. Medicare has recent rules on when to sign up, how much you pay, and how the program works. Many people who are retiring do not…
Some of Social Security’s rules change every year
Around October 12th, the federal government will announce some of the new Social Security rules for 2024. Among those new rules will be the 2024 COLA, a higher wage cap for tax purposes, and a higher earnings threshold for earned…
Social Security rules can be complicated, many people don’t even realize when they made a mistake
Social Security benefits, on average, account for almost 40 percent of retirement income and, therefore, is an important source of income for most U.S. retirees. Social Security becomes more important the longer a person is retired, often accounting for 50…
Medicare “Open Enrollment:” What you need to know
“Open Enrollment” – the time of the year you can change from your current Medicare Advantage or Part D prescription drug plan to something else – begins on October 15th. This period, which lasts until December 7th, is when you…
Overpayment of SSI Benefits
“SSI” is “Supplemental Security Income,” which is not regular Social Security but rather general assistance jointly administered by the State you live in and the Social Security Administration. Not to be confused with regular Social Security retirement benefits, SSI is…
Information for Older Investors
Protecting our assets as we age is important to ensure we do not run out of money in retirement. That essentially means we must be savvy about any new investments we may make, and monitor our existing investments as well,…
Americans Are Lagging with Retirement Savings
Probably not a revelation, but over half of working Americans believe they are behind when it comes to retirement savings, not surprisingly with the largest concerns expressed by those closest to retirement. These heightened feelings have been fueled by soaring…
The Case for Claiming Social Security Early
“Claiming early,” in the context of Social Security, means taking benefits before reaching one’s full retirement age (FRA) which, for those born in 1960 or later, is age 67. There are, of course, consequences for claiming benefits early, most notably…