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When is Claiming Social Security at 70 a Bad Idea?
Waiting to start Social Security at age 70 is the definitive choice for those wanting to maximize their monthly benefit for life from the program. Experts near universally say people should wait, as benefits grow 8% yearly between 67 and…
Claim Medicare & Social Security at same time at 65?
It might seem like a no-brainer to just start both entitlement programs at age 65. After all, that’s the earliest age to begin Medicare, the health program for those 65 and older, and Social Security pays more at 65 than…
Debt Collection and Social Security– A Primer
Vance Cariaga explains Social Security retirement benefits and Social Security Disability Insurance (SSDI) benefits can at times be garnished to pay certain government debts, including back taxes or federal student loans, and debts for child or spousal support. But, SSI…
Experts Say Too Few Wait Until Age 70 to Start Social Security. More Should.
One thing is clear– holding off on claiming Social Security retirement benefits until age 70 will yield one the largest monthly payments available for the rest of one’s life. Yet a new survey from asset management company Schroders finds just 10% of nonretired Americans…
Married People Must Take Spouse Into Account on Social Security
Christy Bieber notes married people need to have a different calculus when thinking about claiming ages for Social Security. They should think strategically. Spousal and survivor benefits are at stake for couples when deciding when to claim Social Security income.…
Why Wait? The Rationale for Claiming Early
As Joseph Ivan Fishman starts this piece, “When you’re a financial adviser, you soon realize that half of the job is math; the rest is loopholes and therapy. These words ring truest when deciding on when to activate Social Security,…
Do Trump and/or Biden collect Social Security?
David Nadelle includes both the current and former president’s positions on Social Security in this interesting piece. Both say leave the program alone, which is perilous given Social Security is headed for insolvency. He then explores if either collects benefits.…
6 Social Security Changes Coming in 2024
Even with no modifications in the actual law, Sean Williams notes six changes are coming to the Social Security program in 2024. They are: 1. a modest cost of living adjustment, to be determined using third quarter data and announced…
Why Claim Social Security at Age 67
Keith Speights notes most Americans begin Social Security at age 62, possibly just assuming that is what they should do since they are now eligible. But a permanent cut in benefits ensues by doing this. Patience can pay off because…
How Scary Will The Upcoming COLA Drop Be?
“Sometimes the COLA [cost of living adjustment] works in the favor of Social Security recipients, and sometimes it doesn’t.” So says Vince Cariaga in this piece. With the latest inflation rate at 3% according to July data, Social Security recipients…