Full retirement age
Working Longer to Increase Benefits–Some Points to Consider in the Argument
As the rhetoric on Social Security reform continues to percolate, one of the frequent topics in the debate is extending the amount of time in the workplace. Financial advisors typically cite the delayed retirement credit (DRC) as an avenue to…
Raise the Retirement Age or Lower It? Gen Z and Millennials Weigh In
Many proposals to address the Social Security program’s evaporating financial reserves include a recommendation to add a few years to the full retirement age (FRA) provision, perhaps extending it as far as age 70 from its current age 67. Advocates…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…
Want more money from Social Security?
Your full retirement age varies based on the year you were born. Also, the amount you would receive at your full retirement age- based on your lifetime earnings. However, the amount you are entitled to each month depends on when…
Candidate Christie Breaks Ranks on the Social Security Issue, Advocates Cuts
While the prevalent mindset during the runup to the election year seems to be a consistent aversion to addressing the Social Security solvency problem head-on, presidential candidate Chris Christie stepped out of line recently with statements calling for reform provisions…
Making an informed choice about when to claim Social Security
Starting your Social Security retirement benefits is an important step on your retirement journey. The Social Security Administration reports: Elderly Social Security beneficiaries, 12 percent of men and 15 percent of women, rely on Social Security for 90 percent or…
Before you file for Social Security
The fear of running out of money in retirement is a rational one. After all, you have spent your entire career making and saving money, but even that may run out. However, you will receive your Social Security benefit for…
When you’re able to retire on schedule
Starting your Social Security retirement benefits is a major step on your retirement journey. You can begin your retirement benefits as early as 62 or as late as 70. If you start your Social Security benefits as early as 62,…
Thoughts on Avoiding the Age 62 Filing Impulse
Statistically, filing for Social Security at the earliest possible age (62) has always been popular, and still about a third of all new filers are that age. The proportion of early filers has been declining in recent years, doubtless because…
Social Security Reform: A “Rocks and Hard Places” Story
Everyone who has been tracking the progression toward insolvency facing Social Security knows the broad scenario…without Congressional action, the Trust Fund reserves reach zero in less than a decade from now and benefits face an across-the-board cut of more than…