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Why file for Social Security benefits early?
Despite the repeated media accounts about the virtue of waiting to full retirement age (or longer) to start receiving Social Security benefits, there are some fundamental reasons why it does make sense in some cases to file file at age 62.…
Don’t take “no” for an answer!
This post by former Social Security professional Tom Margenau explains why it’s critical to challenge the answers you receive when posing a question to your local Social Security folks. Using his standard refrain “When in doubt, insist on filing a…
A Fundamental Retirement Misconception
A recent report from Insured Retirement Institute (IRI) notes that only about half of the Baby Boom generation has taken steps to set money aside for their retirement years. This fact, coupled with the assumption by nearly 70% of this generation…
Retirement Financing is not the Only Worry for GEN-Xers
Generation X, the population cohort just before MIllennials, have concerns about retirement security, but that’s not all they worry about. According to a study by the Insured Retirement Institute, there are three topics that also weigh heavily on the minds of…
The Retirement Savings Dilemma–A New Perspective
A study conducted recently by ValuePenguin found that “61 percent of U.S. households are enrolled in at least one credit card rewards program, while only 58 percent have money in a retirement savings product.” Maybe it’s a question of short-term benefit vs.…
Reverse Mortgages as a Social Security Deferral Strategy: Be Careful!
It sounds like a piece of cake…take your home equity and use it to delay filing for Social Security so that you can capitalize on the Delayed Retirement Credits. But, as in most things that sound simple and easy on…
More on Filing Stategies to Maximize Survivor Benefits
In his Q&A column, Boston University professor and Forbes contributor Laurence Kotlikoff explains the survivor benefit implications associated with a spouses’s early retirement. Read his post here… Notice: The link provided above connects readers to the full content of the posted…
The Importance of Looking Strategically at Social Security Benefits
Planning for one’s financial future is an arduous task, but if done correctly, the dreams of a comfortable retirement can be realized. An article posted on www.investopedia.com can help you navigate these planning processes, one of which is the determination of…
The Importance of Social Security–A Statistical Verification
Citing the correlating results of three separate surveys (the Current Population Survey, the Health and Retirement Study, and the Survey of Income and Program Participation), former economist at the Federal Reserve Bank of Boston Alicia H. Munnell asserts her opinion that “Social…
Are RMDs in Your Future This Year?
If you reached age 70 and a half in 2017, you need to know that this is the point at which Required Minimum Distributions on your deferred compensation plans kick in. As Time.com/Money contributor Kerri Anne Renzulli reports, “Sunday, April 1,…