Social Security
Claiming benefits early is right decision in some instances
Jill Cornfield of CNBC first dismisses all the hysteria about Social Security going away and then addresses the three instances when folks really should consider taking their benefit early. In short, married women (when other spouse had the higher income),…
The benefit of just one more year of work before retiring
Maurie Backman suggests adding just one more year before calling it quits could be a financial boon to workers who are thinking about starting to collect Social Security. In addition to an increased monthly benefit, 8% more if between 67…
The Weather’s Relationship to Social Security and COLAs
About the last thing you would think to have anything to do with what the cost of living adjustment might be for Social Security recipients come the fall would be the weather. But as Sean Williams of The Motley Fool…
Forget the COLA. Shaving small amounts in your budget can yield more
Much has been in the news recently as experts speculate that the Social Security cost of living adjustment (COLA) due to be announced in October could be among the highest in a decade. But the reality is the COLA does a…
Claiming Benefits Soon? Check this essential “need to know” list
The Social Security Administration notes that over 60% of recipients lean on the program for half or more of their monthly income. Hence Social Security is successful as an anti-poverty program. When to claim benefits is but one of a list of important…
Why It May Make Sense to Take Benefits at 62
We often hear the benefits of waiting to collect Social Security because the benefit amounts increase yearly, with increases of 8% between full retirement age and age 70. But Christy Bieber of The Motley Fools notes there are times when…
Retiring? These Five Financial Principles Can Guide You
The Motley Fool’s Christy Bieber suggests these five rules to live by when retiring: maximize Social Security benefits, continue to invest but more conservatively, have a plan for withdrawing savings, keep in mind the required minimum distribution rule at age…
More on Social Security Strategies…Some Things You May Not be Aware of
Ryan and Tyson Thacker, principals in B.O.S.S. Retirement Solutions, offer an extensive review, in podcast format on soundcloud.com, of some of the more important–but least understood–strategic moves that can be made to correctly and appropriately file for Social Security benefits.…
Social Security: Some States Tax it, Most Don’t
Thirty-seven states and the District of Columbia do not tax Social Security benefits, and some states also do not tax private pensions. The Motley Fool editors have developed a list of both of these groups for those who are contemplating…
COLA: A Look at the Impact of Using CPI-E
As we near the time of the year when Social Security publishes its cost-of-living adjustment (COLA) for next year, we hear more and more about how this adjustment is calculated and what it means for seniors’ ability to keep pace…