seniors
Four reasons not to take your benefits early
Many retirees are not sure when to begin their Social Security retirement benefits. If you start your benefit at age 62, you will receive a reduced amount; however, if you postpone taking your benefits from your full retirement age up…
Best small town
As many individuals approach retirement, they may start looking at ways to stretch their retirement savings by relocating to another town or state where the cost of living, housing, and crime rates are lower. GoBankingRates recently released its list of…
Original Medicare covers most but not all healthcare services
Medicare is the government health insurance program for adults 65 and older and individuals under 65 with certain disabilities. However, Medicare does have its drawbacks. Original Medicare covers most, but not all, of the costs for approved health care services…
Will living five more years really deplete your savings?
With retirees living well into their 90s and beyond, millions face a growing risk of outliving their savings. Recent research by Nationwide and The American College of Financial Services found an “extra five years increases the risk of running out…
900,000 are still waiting for their benefit adjustment
The Social Security Fairness Act, affecting over three million retirees, was signed into law on January 5, 2025. The Social Security Administration has processed 2.3 million benefit adjustments, with over 80 percent of retirees affected by the Act receiving their…
Have you saved enough for retirement?
Although Americans feel they need $1.26 million saved up to retire comfortably, most Americans between the ages of 65 and 74 have a $410,000 median net worth, according to the Federal Reserve Board’s survey. Northwestern Mutual reported that 51 percent…
Do billionaires collect Social Security?
Most of us want to know if billionaires collect Social Security. Yes, per the Social Security rules, they can collect their Social Security, but only if they pay into the system. You must pay Social Security payroll taxes on the…
Calming fears about the future of Social Security
The biggest fear among retirees is the reduction in Social Security, or the program will cease to exist, according to the Transamerica Center for Retirement Studies. This fear has led to a record number of individuals applying for their Social…
What is the new overpayment recovery rate?
According to an emergency message released by the Social Security Administration, the Social Security Administration is stepping back from the 100 percent withholding rate on new overpayment benefits to 50 percent for select beneficiaries only. However, the agency has not…
Is it too late to boost your benefits?
You started receiving your Social Security retirement benefits and are not thrilled with the amount. Are you aware you have options to boost your benefits? Maurie Backman discusses two options available to increase your Social Security benefits even after you…