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Working women with children get short-changed in Social Security
In today’s two-earner families, it seems that women who take time off to have and care for their children are paying a price for it when the time comes to collect their Social Security benefits. That’s because Social Security benefits are…
Beware of the lurking “tax torpedo”
This CNBC article by Ilana Polyak reveals how those already on Social Security may be in for a financial surprise she calls the “tax torpedo” when they reach age 71 and need to start taking required minimum distributions (RMDs) from…
The 2018 Social Security increase: Will you see it?
Because Social Security makes up a large part of retiree income, beneficiaries are naturally elated with the news that 2018 will see the largest COLA increase in 6 years, a 2% bump in benefits starting in 2018. But hold on! …
Paying FICA and taxing Social Security benefits
Some who still work after reaching their Social Security full retirement age are surprised to find they still need to pay FICA tax on their earnings. Not only that, Social Security benefits can become taxable if certain income thresholds are exceeded. …
Work out your retirement budget now!
If you’re at that age, say in your 50’s, where you’re starting to think about retirement somewhere in the not-too-distant future, now is the time for you to sit down a plan what your future is going to look like…
Baby boomers feeling better about their retirement outlook
Baby boomers, the generation of workers retiring now, are feeling better about their retirement future these days, according to a new study. A large majority are feeling more secure and optimistic that they’re well prepared for their golden years, but…
2018 Changes to Social Security
As most of us know, each year Social Security makes some adjustments based upon a variety of factors such as changes to the national wage index and the consumer price index. For 2018, like every other year, Social Security will…
Claiming Social Security at 64 could be a smart move
The question perhaps most frequently asked of advisors is “when should I take Social Security?” The answer, of course, is never a simple one, but if you can wait at least until you’re 64 years old there are some real…
More Social Security Q&A
Many people have questions about Social Security, and that’s no surprise since there are more than 2700 separate rules and 500 or more claiming strategies. Most of the questions, though, seem to congregate in 15 general areas. The Motley Fool’s…
Thinking About Retiring? Watch Out for These Basic Mistakes
History has shown that there are some fundamental mistakes that retirees often fall prey to, and they have lasting impacts on later years for these folks. The Motley Fool’s Wendy Connick takes a look at four of these common mistakes…