retirement
Does it pay to delay taking your Social Security Benefits?
The current retirement age for anyone born in 1960 or later is 67 years old. The reduction for taking your benefit at age 62 is 30%. If you delay taking your benefits until age 70, your benefit will increase by…
The Big Beautiful Bill Did Not End the Taxation of Social Security
The taxation of Social Security benefits has not ended; however, you may see your taxes reduced. According to Social Security, an average of 56% of Social Security beneficiaries currently pay taxes on a portion of their Social Security benefits. As…
Is your money safe from criminals
Seniors lost nearly $4.8 billion in 2024 after falling victim to scams, according to a recent FBI report. Older Americans made up the majority of victims of investment fraud. Criminals know retirement funds usually contain a large amount of money,…
What is the biggest threat to your retirement
We are all aware that Social Security is facing an insolvency issue if Congress does not act by 2034. If no action is taken by lawmakers, then Social Security may have to cut benefits by 19 percent. But what if…
The difference between Social Security myths and reality
Social Security myths, such as the looming bankruptcy of the program, a full retirement age of 65, or benefits based solely on your last five years of earnings, persist and can cost you money. Dana George, writing for The Motley…
What is your magic retirement number?
Have you established a “magic number” you will need to accomplish all your dreams and hopes in your retirement? If so, is it nearly $1.1 million? According to a recent online survey, “On average, Americans believe they need nearly $1.1…
Do you need to updated your estate documents?
You have retired, but your work is not done. There are five changes you should be making now. One of the first things you should do once you are retired, and every five years afterwards, is to review your estate…
Achieving the maximum Social Security benefit
The maximum monthly Social Security benefit amount for 2025 is $5,108, or $61,296 annually. Do you know what it takes to receive that amount? Most people don’t. To earn the maximum benefit, you must understand how Social Security calculates your…
Don’t let fear cost you money
According to Suze Orman, a financial expert with more than 40 years of experience, the biggest retirement mistake you can make is claiming your Social Security benefits early. Delaying your claim can significantly increase your total lifetime benefits, as starting…
Americans feel strongly about Social Security
Americans feel strongly about Social Security and are worried about its future, according to two recent surveys. The first, commissioned by the Bipartisan Policy Center’s American Savings Education Council (ASEC) and conducted by Public First, found that “93 percent of…