Social Security
5 Sources of Retirement Income That Aren’t Taxable
One way to keep more of your money in your golden years is by incorporating non-taxable income into your retirement plan. Maurie Backman lists some examples: municipal bonds, HSA withdrawals, and life insurance cash-outs. Social Security sometimes escapes taxation, as long…
Women and Social Security
Among the interesting statistics Liz Skinner notes in this Investment News article are these: women represent more than half of all Social Security beneficiaries aged 62+ and two-thirds of beneficiaries over the age of 85. Because women live longer than men and spend…
The Social Security Insolvency Issue – A Blessing or Curse?
Think how relieved you would feel after your doctor said, “I’ve got some bad news for you. You’re healthy now, but you will die one day.” You’d likely be relieved he didn’t give you six to nine months to live. …
Where Will Your Income Come From in Retirement?
As Christy Bieber notes, your paycheck ends when you retire, but folks still need an income stream to pay their bills. That can be money from alimony, real estate investments, or dividends, to name three. However, the most common sources of cash for seniors…
3 Money Myths That Could Ruin Your Retirement
Katie Brockman advises those planning for retirement to avoid falling for these three myths: Myth #1: You’ll spend less in retirement than you’re spending now; Myth #2: It will be easier to save if you wait until you’re earning more money;…
Social Security Shrinks if You File Early
Christy Bieber takes Social Security beneficiaries through how their benefits will be permanently reduced if they file before their full retirement age (FRA). Of course one does get more checks, though smaller, when applying before FRA. Ultimately it’s an individual…
Six FAQs on Social Security Disability Benefits
Rachel Hartman of U.S. News writes about the complex and confusing application process for Social Security disability benefits. She addresses answers to these six most commonly asked questions: 1. Who Is Eligible for Social Security Disability? 2. How Long Does…
Be careful if contributing to an HSA while on Social Security
Sarah O’Brien of CNBC writes an important and informative piece here for those that regularly contribute to a health savings account (HSA) and plan to tap Social Security past full retirement age. Folks must be careful not to run afoul of…
Free up your time by using Social Security online
Maria Ortega of The Sun Sentinel describes time as one of our most valuable commodities. This article discusses online resources to make doing business with Social Security easier and faster. By establishing a my Social Security account, those receiving benefits can change their address…
States With the Best and Worst Average Social Security Checks
New Jersey and Connecticut are where older people receive the largest average Social Security payments, according to the latest data from the Social Security Administration. Louisiana ranks last. Doug Whiteman of MoneyWise ranks all 50 states and the District of Columbia for Social…