Social Security
Wait for Full Retirement Age? Maybe, maybe not. It depends.
Conventional wisdom among financial advisors is to wait at least to your full retirement age to claim you Social Security benefits, or longer if you can. But there are circumstances where this might not work best, as explained in this…
The Retirement Savings “Crisis”: MIllennials Speak Up
Despite all the reasons why the “millennial generation” should be focusing on saving for retirement, it still doesn’t appear to be happening. Why, you ask. Well, the National Institute on Retirement Security took a look at this issue and developed some…
Why file for Social Security benefits early?
Despite the repeated media accounts about the virtue of waiting to full retirement age (or longer) to start receiving Social Security benefits, there are some fundamental reasons why it does make sense in some cases to file file at age 62.…
Reverse Mortgages as a Social Security Deferral Strategy: Be Careful!
It sounds like a piece of cake…take your home equity and use it to delay filing for Social Security so that you can capitalize on the Delayed Retirement Credits. But, as in most things that sound simple and easy on…
The Importance of Looking Strategically at Social Security Benefits
Planning for one’s financial future is an arduous task, but if done correctly, the dreams of a comfortable retirement can be realized. An article posted on www.investopedia.com can help you navigate these planning processes, one of which is the determination of…
The Importance of Social Security–A Statistical Verification
Citing the correlating results of three separate surveys (the Current Population Survey, the Health and Retirement Study, and the Survey of Income and Program Participation), former economist at the Federal Reserve Bank of Boston Alicia H. Munnell asserts her opinion that “Social…
The Importance of Social Security Advice for Women
To say that advice on maximizing Social Security benefits for women is important is an understatement. It’s more than important, given that more than a quarter of women in a study by Harris Poll for the Nationwide Retirement Institute “believe…
Brady, Neal Applaud Senate Passage of the Social Security Representative Payee Bill
(Source: waysandmeans.house.gov) Washington, D.C. – The Senate passed by unanimous consent yesterday H.R. 4547, the Strengthening Protections for Social Security Beneficiaries Act of 2018 – bipartisan legislation to strengthen and improve the representative payee program to better protect those Social Security beneficiaries who are unable to manage their benefits…
Spotlight on Widow/Widower Benefits: Understanding the Math
The recent Social Security Administration’s inspector general report highlighting the lack of correct direction provided to surviving spouses has received quite a bit of media attention over the past few weeks. With so much money on the table, it’s important that…
Reasons Why DRCs Are Unattractive to Many
According to this post by Sean Williams of the Motley Fool, less than a tenth of retirees elect to take advantage of the Social Security’s Delayed Retirement Credit provision. It’s a guaranteed 8% return on your benefit from fill retiremenht…