Social Security News, Information and Guidance

Improve your retirement plan

Know Your Social Security Choices to Improve Your Retirement Plan

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….

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Can I Work and Also Get Social Security Benefits?

Working as long as possible is a great way to stay young and improve your retirement finances! And, yes… You can get Social Security retirement benefits and work at the same time. No Penalties if You Have Reached Your “Full Retirement Age” If you were born January 2, 1943, through January 1, 1955, then your…

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Will Social Security Really Be There When You Retire?

With Social Security celebrating its 80th birthday this year, it’s a good time to reassess whether the program still works, and whether it might even exist once your retirement rolls around. It’s seen its share of negativity, with many people doubting its solvency and ability to roll with the unsteady times. But a funny thing…

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Happy Birthday, Social Security: You’re 80 Years Young!

August 14 marks the 80th birthday of the program that we know as Social Security. Eighty years ago, the country was suffering through the Great Depression. Jobs were worse than scarce, and families were worse than poor. Pensions had all but disappeared, so the elderly suffered along with younger people who couldn’t find adequate work….

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How Can I Be Sure it’s the Right Time to Start Taking Social Security?

Choosing when to claim your social security benefits can be one of the most important decisions that you make in retirement. Proper timing is important, but with conflicting information and advice, it can be hard to determine what the best course of action is for you. Let’s explore what factors you should consider when making…

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How is My Social Security Payment Calculated?

You can reasonably count on Social Security benefits once you retire, but determining how much you’ll receive is a different story. There is a formula, of sorts. But as Mark Miller for Morningstar explains, it’s still complex. Although you might not come to a precise dollar amount in predicting your benefits, it’s still interesting to…

How I Boosted My Social Security Benefit by $100,000

If you are like most people facing retirement, you are figuring out how to generate enough income in retirement and feel confident that it will last as long as you need it to.  This article will talk about two of the biggest levers you have – when/how to claim social security and using home equity…

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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: 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…

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 that…