retirement
If only I had Waited Longer to Claim SS
“Hindsight is the best Foresight” As the old adage goes, “hindsight is the best foresight” and nowhere is that more evident than with some we counsel at the AMAC Foundation’s Social Security Advisory Service. We regularly speak with older seniors…
Married Couples Have Options For Maximizing Social Security Benefits
Married couples should look at options to maximize Social Security benefits. With inflation steadily rising and the average life expectancy increasing, it may be more important than ever to maximize your Social Security benefits to offset your other retirement funds.…
Social Security Makes Things Easier for You
Since the availability of being able to create a My Social Security Account online, you barely need to wait on hold to speak with someone at Social Security any longer. Having an online account gives you access to many services,…
Is your Social Security Benefit Amount Correct?
You should verify your Social Security earnings statement each year. Your retirement benefit is based on your 35 highest-earning years, and your earnings through age 60 have been adjusted for inflation. This means they are worth more now than when…
It’s Important to Include Future Medical Expenses in Your Retirement Plans
A new survey from D.A. Davidson shows that Americans are not factoring rising medical costs into their retirement plans. The latest projections from Fidelity show healthcare expenses for a couple retiring at 65 have increased approximately 41% from 2015. According…
Income Limit If You Work and Collect Social Security Before Your FRA
Some retirees who begin Social Security benefits choose to return to work for extra income or to stay active. You can start Social Security at 62, but payments may decrease if you keep working. Starting benefits before full retirement age…
Thinking You Can Retire on Social Security Alone is Another Myth
Social Security was created to help keep seniors out of poverty once they could no longer work. However, it was never intended to be your sole source of retirement income. With rising inflation, having additional retirement income sources is more…
Working and Taking Your Social Security Benefits
If you work and collect Social Security benefits before reaching your full retirement age (FRA), your future benefit amount will be affected. John Rosenfeld wrote an article for The Motley Fool stating that, according to research from the Center for…
Key Considerations When Initiating Your Social Security Benefits
Deciding when to start your Social Security benefits could shape your financial future. Turning 62 makes you eligible, but that doesn’t mean claiming now is always the best option. Consider several factors before starting Social Security. While no one knows…
The Importance of Verifying Your Social Security Earnings Statement
Most folks realize that their Social Security benefit is based on a set of parameters, including your age, the start date for monthly payments, and their work history as maintained in the Social Security Administration’s records. While the first two are based on points in time, the…