Retirement essentials to keep more cash in your pocket
Social Security and Medicare are essential government programs, but a new poll shows how little Americans understand both. Darla Mercado of CNBC summarizes the findings and adds these three tips: 1.) do the “catch up” IRA contributions in your 502 to build extra wealth; 2.) delay Social Security as long as possible, as the benefits of delay increase to 8% per year more between 67 and 70; 3.) manage all the different parts of Medicare premiums, using a CPA or financial planner if necessary. Read full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.