Full retirement age
Op-ed: Raising Social Security Retirement Age Can Help Ease Insolvency issue
Brenton Smith, a policy adviser to the Heartland Institute, explains there is no one solution to fix Social Security’s ills. The program will be unable to pay full benefits in about a decade. Raising the retirement age should be a…
Ask Rusty – About the Fairness of “WEP” and “GPO”
Dear Rusty: I was married to my ex-husband for 30 years. For 14 of those years, I was an unemployed mom and community volunteer. After my sons were grown, I began teaching in California and earned a teacher pension. That…
FRA Setbacks, Means Testing, and the Inevitability of Tax Increases–One Viewpoint
In a follow-on to last week’s GOP Presidential Candidate Debate, and after considering suggestions put forth by candidates Nikki Haley and Chris Christie regarding adjustments to the full retirement age and incorporating additional means testing into the benefit formulas, financial writer…
Understanding the Two Social Security “Do Over” Options
Many folks opt to begin drawing their earned Social Security benefits at the earliest possible age (62), and after the fact realize the long-term implications of accepting the reduced monthly benefit. Or, their financial circumstances change after beginning benefits causing…
It’s all about realistic expectations
Social Security is a primary income source for most people aged 65 and older. You can start your Social Security retirement benefits as early as age 62. However, if you start to receive your benefits early, your monthly Social Security…
Spousal benefits from Social Security
Being married comes with benefits – Social Security benefits – that is. When a worker files for retirement benefits, the worker’s spouse may be eligible for a benefit based on the worker’s earnings. The spousal benefit can be as much…
There’s more to consider when deciding to begin your Social Security benefits
Social Security is a primary income source for most people aged 65 and older. Without Social Security benefits, 37.7 percent of older adults would have incomes below the poverty line. Social Security is the cornerstone of many retirees’ income, so…
Claiming as soon as possible could hurt your finances in more ways than one
You can start your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, they are permanently reduced. Although there are times when starting your benefits at 62 is a good idea, if you…
Don’t rush into claiming Social Security at 62
You can start receiving your Social Security retirement benefits as early as age 62; however, if you start receiving benefits early, your benefits are reduced. Yes, you have been paying into the system all these years, and you want to…
How working will affect your benefit amount
You can get Social Security retirement or survivor benefits and work. But, if you’re younger than full retirement age and earn more than a specific dollar amount, your benefits will be reduced or even stopped. However, there is good news…