The Social Security Administration has announced a big Social Security benefit increase for 2022. Beginning next January, Social Security paychecks will show a Cost of Living Adjustment (COLA) of 5.9%. This is a huge bump over the modest 1.3% increase that was awarded in 2021. In 2021, the average retired Social Security benefit was $1,565.…
Steve and Mike discuss Social Security planning, Roth conversions, and retirement account distributions.
What’s the highest Social Security benefit? Will you qualify? Get easy answers for a wealthier retirement.
Demographics and the pandemic are 2 factors causing financial woes for Social Security. Learn if your benefits will be impacted.
Find out how to apply for Social Security. Applying for Social Security is very straightforward. The real trick is deciding when. Get the inside scoop!
Choosing the right Social Security strategies can be a $100,000 (or more) question. Find out how to make the most of this benefit with 16 easy tips.
Living on Social Security alone really is possible. Get the scoop on 11 ways to make it work for your situation. Read now!
Do Social Security benefits increase if you stop working? Or decrease?” Learn more and see what applies to your own situation.
To say that Social Security and Medicare are important to the financial well being of seniors would be an understatement. Sixty-two percent of eligible beneficiaries rely on Social Security income for more than half of their income. And almost everyone who is eligible uses Medicare to help fund their healthcare after 65. Here are the…
Social Security and working: believe it or not, the two are more or less completely compatible with each other. You can absolutely get Social Security retirement benefits and work at the same time. However, there are a few things that you do need to know. Social Security Work Penalties Determined by Your Age There are…
Working as long as possible is a great way to stay young and improve your retirement finances! Yes, you can get Social Security retirement benefits and work at the same time. No Penalties if You Passed Your “Full Retirement Age” If you were born between January 2, 1943, and December 31, 1954, your full retirement…
Mary Beth Franklin is a nationally recognized expert in Social Security claiming strategies, she is also a frequent public speaker. And, she literally wrote the book (Maximizing Your Clients’ Social Security Retirement Benefits) that retirement planning experts use to advise clients on Social Security. She offers you her Social Security expertise with six insider tips…
You need to make a lot of choices in retirement. Many people tout the benefits of investing in real estate. However, there is a less glamorous way to use your money for better returns. Delay collecting Social Security and your finances will win big. Money Spent to Delay Social Security Beats Buying Real Estate There…
For many women, Social Security benefits are not nearly what they could be. Too many women are making a big mistake by claiming early. Why are women’s Social Security benefits typically lower than men’s? There are a few issues. Women tend to start Social Security earlier than men — lowering their monthly paycheck. The longer…
An important study from the Boston College Center for Retirement Research has found that husbands ignore (maybe overlook or under think) their wife’s retirement income needs when making decisions about when to start Social Security benefits. Widows (and widowers) are entitled to switch to Social Security Survivor benefits and receive their spouse’s full benefit amount…
Episode 10 of the NewRetirement podcast is an interview with Mary Beth Franklin. Mary Beth is a nationally recognized expert in Social Security claiming strategies. In fact, she literally wrote the book (“Maximizing Your Clients’ Social Security Retirement Benefits,”) that retirement planning experts use to advise clients on Social Security. Listen to find out why…
Most of us count down the days, months and even years in anticipation of starting Social Security. In fact, besides qualifying for Medicare, perhaps the retirement event we most look forward to is the day we can start receiving these benefits — after sleeping in of course. Carly Simon’s lyrics come to mind: Anticipation Anticipay…
You have a lot of decisions to make about retirement. And, if you are married, you have nearly twice the number of choices – plus the complications of competing priorities and sometimes differing goals and expectations.Your Social Security decisions can profoundly impact your spouse today, tomorrow and long after you are gone.The good news is…
Social Security 2017: You might want to keep your eye on the money. While President Trump promised on the campaign trail that Social Security would not change if he achieved victory, many pundits are worried that this is one promise he will not be able to keep. Most experts have assumed that Social Security would…
It is no secret that delaying the start of your Social Security benefits will probably pay off big in the long run. However, most retirees eschew the advice and start getting Social Security paychecks almost as soon as they are eligible. According to a report by the Center for Retirement Research at Boston College, 90%…
Should retirement issues influence how you vote?We are in the midst of a presidential election like none that has ever come before. And with record numbers of people turning age 65, retirement issues are important. If you are at or approaching retirement age, you may wonder which candidate is a better bet for your interests…
An illness or injury can totally derail the best laid retirement plans, making it difficult or impossible to earn an income. In 2014, 2.5 million Americans applied for Social Security Disability. But only 810,973 were granted disability payments. What happened? What went wrong? Government agencies can be tricky to navigate at the best of times,…
A few big new Social Security changes will begin being implemented on May 1, 2016 Most of these rules aim to eliminate the ability to manipulate benefits so that you can continue to delay the official start of your own Social Security payments — thereby maximizing your monthly benefit amount. The longer you delay starting…
Rebecca Wiggins is the Executive Director of AFCPE and holds a Masters of Family Financial Planning from Kansas State University. Search for an AFCPE Certified Professional in your area by using the association’s search tool. Now in its 80th year, Social Security is still the cornerstone of the American retirement plan. Following the Great Depression,…
Choosing the right time to claim your Social Security benefits could improve your retirement plan. If you review your Social Security choices — your options for claiming Social Security benefits, you will find that you can increase your monthly Social Security income by waiting until after you are 62 years old to claim your benefit.…