Social Security
Are You Thinking About Social Security the Wrong Way?
Kailey Fralick of The Motley Fool tackles some of the misconceptions people have about Social Security in this article. One is folks believe it will replace more pre-retirement income than it will in fact do. Two is folks do not…
Millennials Underestimate Social Security
The belief that Social Security won’t be there for Millennials (those born between 1979 and 2000) is widespread. But does it match reality? Liz Weston of NerdWallet notes the real fear is that a hopelessness about retirement savings overall will…
The Age When Most People Start Saving for Retirement
“Saving for retirement is a lifelong process,” says Katie Brockman of The Motley Fool. A report from Charles Schwab states that 1/3 of Americans think they’ll need between $1 million and $3 million saved to retire comfortably. A recent survey from Morning Consult found nearly 40% workers…
Retire a Millionaire on an Average Salary
A million ain’t what it used to be. Beyond that line it is worth noting it isn’t even much at all. Consider that the Social Security Administration says that a third of today’s 65-year-olds are expected to live until at least…
Social Security Fix Proposed
Franklin Roosevelt said this of The Social Security Act: “[it] does not offer anyone … an easy life — nor was it ever intended so to do.” Thus from the very beginning in the 1930s the program was only designed…
Retirement checklist includes more than when to take Social Security
Maurie Backman of The Motley Fool discusses three things those headed for retirement must confront. The usual and most obvious is when to file for Social Security, as claiming it at any time before full retirement age (now 66 or 67…
It’s Myth-busting time again with regard to Social Security
Just because you’ve heard the same line for years with regard to Social Security does not make it true. In fact, misinformation can hamper confidence in the program; it can alter the way political leaders try to deal with the…
Three questions to ask about when to claim Social Security
Maurie Backman puts in right in black and white on how filing age impacts Social Security benefits– “imagine you’re entitled to $1,600 a month at a full retirement age of 67. Filing at 62 will leave you with just $1,120 a…
Four Popular Ages to Claim Social Security
One can start Social Security benefits as early as 62 but also as late as 70 (there’s no benefit to waiting past this max age). But one can also start any time in between the early retirement age and the…
Be weary of having too much faith in Social Security
According to a recent survey by the reverse-mortgage lender American Advisors Group, almost 50% of all baby boomers say that Social Security will be their primary source of money in retirement. As Kailey Fralick reports, that is worrisome because Social Security was only designed to…