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Build Your Social Security Claiming Strategy Thoughtfully
Thomas Hager writing in Forbes argues one must plan carefully and thoughtfully before beginning benefits. The overall goal in the planning process should be to maximize high-earner benefits, coordinate benefits between spouses, and maximize survivor benefits. Hager lists many reasons…
Divorced? Know the Social Security Rules
Maurie Backman notes it’s a blunder that could really cost you. If you worked and paid into Social Security for at least 10 years, then you’re entitled to a monthly benefit as early as 62. You might also know that even if…
The Must See and Understand Social Security Table
Selena Maranjian’s article has this main point– you can make your Social Security benefits 24% greater or 30% smaller. You’ll want to make the move that’s best for you, buy you first must understand what benefits are paid at different…
Maximizing Those Social Security Benefits
Everyone would likely do it, or at least consider it, if they only knew. Such is the case with maximizing Social Security payments. To get the highest benefit one should earn more and work more, meaning 35 years or more…
Social Security to finally get a commissioner
With no confirmed commissioner since President Biden fired Andrew Saul, a holdover from the Trump administration who refused to resign in 2021, Kilolo Kijakazi has been the acting commissioner of the Social Security Administration. On Wednesday July 26th, Biden announced he will…
Break-even age – the single most important number to know
Stefon Walters explains the break-even age is the age when the total amount received from claiming benefits equals the amount received by delaying them. It’s a key factor, though just one, that should be used to determine when you claim…
Social Security Spousal Benefits – A Primer
It takes 40 work credits (10 years) to collect Social Security retirement benefits on your own earnings record. But if you didn’t work or fell short of that you may still be able to get benefits if you are, or were, married…
Inflation driving expectations way up on what is needed to retire
Call it the curse of high inflation, which peaked at over 9% last summer. Americans now say they would need to earn $233,000 on average to feel comfortable as per a recent Bankrate survey and $483,000 per year on average to…
3 Reasons to Start Social Security Before Age 65
You won’t get your full retirement benefit by claiming Social Security at any time before age 67, but Maurie Backman notes there are other considerations. Claiming at age 65 is still better than 62 as far as monthly income. Reasons…
How Long $750,000 Lasts in Retirement
The obvious answer to the above question is “it depends,” namely on where you live and how much you spend to how you invest. Eric Reed explains that this sum is generally adequate and explains how to make it last.…