Social Security
Americans Are Clueless About Social Security’s Filing Rules
Citing a recent survey by GOBankingRates where nearly 40% of respondents thought they could file for Social Security retirement benefits at age 60, Maurie Backman states it is imperative for folks to get schooled on the program’s filing rules. This piece explains…
Certain Debt Can Reduce Your Social Security Benefits
As Katie Brockman reports in this article, some of your Social Security benefits might be withheld if you get behind on certain types of loans. Most creditors, such as credit card companies and loan agencies, cannot go after Social Security benefits. But for…
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…