Social Security
Claiming Benefits Before Age 62
Most folks assume age 62 to be the absolute earliest age one can begin to draw benefits from Social Security. While that’s generally true, there are (as always) some exceptions to this rule. The Motley Fool’s Kailey Hagen, in a…
Social Security Isn’t Doomed for Younger Generations
Tyler Cowen writing in Bloomberg dismisses the notion that younger folks will not receive Social Security. Cowen acknowledges the funding shortfall that will occur around 2034 with the program being incapable of paying out full, promised benefits. He cites respected…
Who Taxes Social Security Benefits?
It’s a rude awakening to find out you owe federal income tax on some of your Social Security benefits. Since the thresholds were never indexed for inflation in 1983 and 1993, more taxpayers are ensnared each year. But thirteen states…
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…
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…
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…
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…
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…