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Social Security Tips for Gen Xers
Kailey Hagen says Generation X workers (aged 43-48 now) should be doing these four things to prepare for retirement: 1.) Remain in the workforce at least 35 years before claiming to avoid any zeros in the benefit calculation; 2.) Do…
That Elusive Max Social Security Benefit
You can forget about getting $4,555 per month in Social Security benefits. While that is the current maximum benefit, James Brumley explains the Herculean task it would be to achieve that. One would have to work 35 years or more…
Most Important Social Security Number to Ever Know is 40%
“If your Social Security check seems inadequate for your needs, it’s because it’s designed that way.” So says Jacob Wade in this piece. He wants all Americans to fixate on the number 40% because that’s about all that Social Security replaces…
Planning to Claim Social Security at 70 Not Without Risk
Maurie Backman states what experts know to be gospel, that indeed you get the maximum monthly benefit by waiting to claim Social Security until age 70. That is not in dispute, but the should you wait part is always tricky.…
Tips for Living Off of Social Security
It’s a program that was never meant to be a sole source of income. Those trying to live on Social Security alone face a very challenging retirement. But Jami Farkas, a financial planner, has some tips here for how to…
You Might Regret Claiming Social Security at 62
It’s the most common age to begin Social Security, yet it pays people the lowest monthly benefit– permanently. Many people think that’s the age when they should claim; it’s a sort of “take it as soon as possible” mentality. Kailey…
When Waiting to Start Benefits Makes Sense
Laura Gariepy is a financial advisor. In this piece she addresses what to do when one hits age 62, the earliest possible time to begin Social Security benefits. Four signs you should wait until 67 or even 70 to collect…
Lower COLA for 2024. Why?
Seniors on Social Security look forward to and depend on getting a little boost each January. It’s called the cost of living adjustment (COLA). It’s not a raise, as the boost just allows one to keep pace with prices that…
Prepare Now for Social Security Cuts
Forewarned is forearmed. Katie Brockman explains that automatic cuts are coming to Social Security in a decade or less unless Congress reforms the program, though even any reform would likely involve cuts of some kind. What to do then? Brockman…
Four Key Points About Social Security
Barbara Eisner Bayer explains the lifeline and certainty that Social Security provides, yet acknowledges there are at least four key facts many people do not know before starting their benefits. They are: 1.) Your monthly amount isn’t permanent, as cost…