Social Security News, Information and Guidance

Social security

Retirement Directions: What to Know About Social Security

Retirement is tricky business. You can save and plan your whole life, but that doesn’t mean you’ll know how to best use your Social Security benefits. Counting on the Social Security Administration (SSA) to help you find your way doesn’t always work, either. And then there’s the elephant in the room, which is whether Social…

Social Security Benefits: Study Shows that Women Start Benefits Too Early

Social Security Benefits: The Big Mistake Women Make

For many women, Social Security benefits are not nearly what they could be. That’s because women tend to claim Social Security early when it would better serve them to wait, data show. Social Security can represent up to 40% of the total income Americans receive throughout retirement. However, only 15% of women wait until their…

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Why Waiting Until Your Social Security Full Retirement Age Makes Financial Sense

Social Security benefits can increase up to 32% if you wait until age 70 to start collecting them. This may translate to an additional $300,000 in benefits over the course of a couple’s lifetime or $100,000 during an individual’s lifetime, says Kevin McGarry, director of the Nationwide Financial Retirement Institute (NFRI). But the reality is…

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Alarming Analysis: Social Security Will Not Be Adequate to Fund Your Out-of-Pocket Healthcare Spending

Social Security has served as a financial safety net for many older adults, but recent research indicates that era is drawing to a close as retirement health care costs skyrocket. Many older Americans rely heavily on Social Security benefits as their main source of income in retirement. Nearly half (47%) of unmarried people depend on…

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Have Dependent Children? Social Security Dependent Benefits May Make Taking Social Security Early a Good Choice for Your Retirement

You have probably read and reread that you should delay the start of your Social Security benefits until at least your full retirement date (typically around age 66 if you are retiring soon). This advice is probably good for most people because delaying the start of benefits increases your monthly Social Security checks for your…

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Do You Love Your Spouse Enough to Delay Social Security?

Deciding when to claim Social Security benefits may seem like an individual decision, but if you’re married, there’s more to the picture. One such consideration is if you should delay taking benefits in order to ensure greater lifetime benefits for your wife or husband if you pass away before she or he does. Spouses can…

Social security

5 Social Security Tips for 2015

  The turning of the calendar year is a classic time to evaluate your financial goals. If you’re rapidly approaching retirement age, or if you’re already there, Social Security benefits are probably near the front of your thoughts. Social Security helps supplement the lives of millions of retired Americans. But even though every worker gets…

How to Increase Your Social Security Benefits

Benefits of Waiting to Claim Your Social Security The New York Times, November 15th, 2013 For many who are over the age of 62, collecting your Social Security benefits is a rite-of-passage of sorts, the payoff of your years of letting the IRS take your hard earned money out of every paycheck.  For some, particularly…

Delay Social Security for more income

Deciding when to start drawing Social Security can be one of the toughest decisions that a new or near retiree can make. For most, delaying Social Security is the preferred option — in fact, it may your best investment decision. By Henry Hebeler Henry (Bud) Hebeler is one of the most experienced financial advisors within…

Very Small Cost of Living Adjustment to Social Security for 2013

This week, the Social Security Administration announced a 1.7 percent increase to Social Security payments, beginning in January, 2013.  This will be one of the smallest hikes since adjustments for inflation were adopted in 1975. You can see the Press Release from the Social Security Administration here. Social Security payments average $1,131 a month —…