Full retirement age
Boosting Your Monthly Social Security Benefit Payment
Getting the highest benefit payment you’re entitled to is a legitimate goal for seniors in their retirement financial planning, but how do you do that? Well, one of the most obvious steps is to defer claiming benefits as long as…
Ask Rusty – About When to Claim Social Security and Taxation of Benefits
Dear Rusty: I am 65 and currently working full-time. Can I apply for and start receiving my Social Security benefit? I’d expect to have to pay income tax on it if/when I do. Signed: Curious Worker Dear Curious Worker: If…
Explaining the 2025 Full Retirement Age Change
You’ve probably seen a flurry of media accounts about the New Year bringing a change to the Social Security full retirement age (FRA). While it’s true that the coming year will set a new marker for those born in 1958…
Will 2025 be your year?
This year will be important for those individuals born in the last eight months of 1958 and the first two months of 1959. Why; because they will be reaching their full retirement age. When you reach your full retirement age…
WEP-GPO Debate Enters a New Stage as the Clock Winds Down
As noted in yesterday’s headline post on this website, the rush to obtain a Senate vote on the bill to repeal Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) is hitting some roadblocks. The latest, as explained…
Only 4% claim Social Security at 70
You can start receiving your Social Security retirement benefits as early as age 62 but at a reduced amount. However, you are entitled to full benefits only when you reach your full retirement age. If you delay taking your benefits…
What is the best age to begin your benefits?
According to a recent survey, 88 percent of retirees rely on Social Security to make ends meet. The same group said their benefits are a major source of income. So, how can you get the most from your benefits? First,…
“Fixing” Social Security has a Wide Range of Options to Consider
We’ve mentioned many perspectives on the best ways to address the looming Social Security insolvency crisis on this website. In a recent post on nasdaq.com, columnist The Motley Fool’s Matt Frankel covers a list of 16 possible ways to put…
Claiming Early? You’re Not Alone…Here’s Why.
From a financial planning standpoint, conventional wisdom espoused by retirement advisors suggests waiting at least until full retirement age, and preferably until age 70, to claim Social Security benefits. There is nothing wrong with that advice, of course, but with…
What is the Best Age to Claim Social Security Benefits?
This decision permanently affects your monthly benefit amount. It could make a huge difference for people who will be relying heavily on Social Security in retirement. In this article Stefon Walters for Motley Fool provides information that is helpful in…