Full retirement age
A Summary of Social Security Issues
In a post on www.dailyprogress.com, financial advisor Jorgen Vik takes a look at a variety of issues, ranging from Social Security’s rumored bankruptcy to strategies associated with spousal benefits. He also touches on widow and widower benefits and the presence of a…
More thoughts on waiting to file for Social Security
As the song goes, “Waiting is the hardest part.” Most folks approaching their age of Social Security eligibility understand, at least intuitively, that resisting the impulse to file early produces a higher benefit later. There are reasons, of course, to…
Wait for Full Retirement Age? Maybe, maybe not. It depends.
Conventional wisdom among financial advisors is to wait at least to your full retirement age to claim you Social Security benefits, or longer if you can. But there are circumstances where this might not work best, as explained in this…
Why file for Social Security benefits early?
Despite the repeated media accounts about the virtue of waiting to full retirement age (or longer) to start receiving Social Security benefits, there are some fundamental reasons why it does make sense in some cases to file file at age 62.…
The Importance of Social Security Advice for Women
To say that advice on maximizing Social Security benefits for women is important is an understatement. It’s more than important, given that more than a quarter of women in a study by Harris Poll for the Nationwide Retirement Institute “believe…
Reasons Why DRCs Are Unattractive to Many
According to this post by Sean Williams of the Motley Fool, less than a tenth of retirees elect to take advantage of the Social Security’s Delayed Retirement Credit provision. It’s a guaranteed 8% return on your benefit from fill retiremenht…
Filing for Benefits: The Basic Question
As multimedia journalist Tracy Byrnes point out at the beginning of her post on www.thestreet.com, the first and most basic question you should consider asking yourself is, “Do you really need the check?” Asking this question will help you think through the pros…
Social Security’s Basic 2018 Changes Recapped
In a post on www.financial-planning.com, columnists Kimberly Foss and Amanda Schiavo examine five of the basic changes implemented in Social Security for 2018. The changes range from the COLA adjustment to the changes in earnings limits and maximum benefit payouts, and include the changes…
Tax Planning, Social Security, and Retirement Planning: A Primer for the Savvy Widow
For widows (and widowers, for that matter) wrestling with the decision on when to retire, it’s a good idea to think strategically and weigh a variety op options before taking the plunge. For example, understanding the benefits of working longer than…
Making the “Big Decision” on Your Social Security
You’re probably well aware that you can file for Social Security benefits as early as age 62, or as late as age 70. There are pros and cons on each of these goal posts, and quite a bit has been…