Social Security
Memorize these three Social Security rules
Since most people will rely on Social Security benefits to at least some degree in their golden years, maximizing those benefits should be a goal. Doing so means understanding three main rules, according to Maurie Backman. First, even though age…
How Working During Retirement Will Change Your Social Security Benefits
There are a myriad of reasons that people choose to work during retirement, from enjoyment o necessity to somewhere in between the two. According to a survey from the Insured Retirement Institute, about 33% of baby boomers say they plan…
Smaller Social Security Raise Predicted in 2020
Forget a repeat of the 2.8% cost of living adjustment (COLA) Social Security recipients received this year, according to Dan Caplinger’s analysis of inflation data for this year to date. He explains the CPI-W index used to calculate the COLA…
Four Social Security Myths That Need to Die
Social Security is an important federal program for everyone who contributes and/or receives benefits. Yet, as Kailey Fralick writes in this piece, misconceptions still abound. Four in particular are these, all of which are incorrect: First, you get your full…
Record High Reliance on Social Security
Social Security has been wildly successful as an anti-poverty program, but it was never intended to become a primary source of income for older Americans. The program only replaces about 40 percent of pre-retirement income. The Gallup Organization’s new survey,…
It’s never too early to begin planning for retirement
Planning for retirement takes decades. As Kailey Fralick reports here, everyone regardless of age should take these three steps. First is creating a retirement plan, which includes estimating both life expectancy and living expenses. Fralick details how to do this…
How to Fund Social Security for 75 to 150 years
Bernice Napach’s article here in ThinkAdvisor summarizes new research from the Center for Retirement Research at Boston College that declares any proposal to close Social Security’s financing gap should consider the creation of a trust fund capable of earning enough…
Boost Your Social Security Benefits for Life
Articles abound on how to get the most of and how to maximize Social Security. Mauire Backman says extend your career, meaning it’s important to have a full 35 years of earnings history, as that is how one’s benefit is…
Using a Life Expectancy Calculator with a Retirement Plan
Kailey Fralick’s piece here notes one of the most difficult parts of planning for retirement is estimating how long you’re going to live. She explains the dangers of underestimating your life expectancy and how to adjust your retirement plan accordingly.…
Losing Social Security benefits to the tax man is likely inevitable
The age when one starts to claim Social Security benefits along with one’s lifetime earnings are main determinants of monthly Social Security income, and this can be planned for by creating an on-line account with the Social Security Administration. However,…