Full retirement age
“SSI” vs. Social Security retirement or “SSDI” benefits
Social Security certainly can be a confusing program, with over 2800 rules codified in over 100,000 SSA website pages. Then add in that the Social Security Administration also administers other assistance programs on behalf of the federal government, and the…
How much will your Social Security benefit be?
The average retiree actually gets a benefit likely much smaller than you think. Many believe that after contributing to Social Security for an entire lifetime, they will be able to retire in financial comfort, but the reality is much less…
Can you get the maximum Social Security benefit?
Well, the probable answer is “no” because there is a pretty high bar to achieve that goal. Basically, you’d need to earn at least as much as the annual payroll tax cap for at least 35 years, pay Social Security…
Applying for Social Security? Here’s what you need to know
Applying for your Social Security benefits usually is part of a huge step in your life – retirement. And although many who are thinking about finally claiming their hard-earned Social Security payments, they are also uncertain about where to start.…
What is the best age to claim Social Security?
It’s something of an age-old question but, curiously, one where the reality of when most people claim seems to conflict with the optimum age for them to do so. This Nasdaq article by Motely Fool’s Katie Brockman explains that while…
Should you wait to claim Social Security
When to claim your Social Security benefit is a personal choice. Although most financial advisors will tell you to wait until you are 70 to claim your benefit, however under certain circumstances, it is better to claim your benefits early.…
You don’t necessarily have to wait to claim your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
The maximum Social Security benefit is out of reach for all but a few workers
In 2024, the highest Social Security retirement benefit for an individual starting benefits is $4,873 per month, according to the Social Security Administration. But how many people achieve the maximum Social Security benefit? In reality, very few Americans will claim…
Don’t claim Social Security early for the wrong reasons
According to a report by the Employee Benefit Research Institute, almost half of the U.S. households will run short of money in retirement. Another report found only 18 percent of Americans retired with enough money to maintain their standard of…
Understanding Retirement Age and Its Implications for Your Social Security Benefit
Deciding when to claim Social Security benefits is an individual issue, and it depends on some key factors. What’s the best age for one claimant may not be the best age for others, so a complete complement of conditions, like…