My Comments: social media is alive with people retiring early, whatever that actually means. Most of my generation considered age 65 as the logical time to retire, given that age 65 was written into the financial code in the 1930’s when Social Security was introduced and became the financial saving grace for millions of Americans. …
Category: Social Security
4 must-knows before claiming Social Security
My Comments: Assuming you qualify for benefits, the day/month when you file your claim becomes locked in for the rest of your life. You need to choose it wisely. Among the four must-knows referenced in the title is the term FRA. That stands for your Full Retirement Age. It’s the point in time when you …
Continue reading 4 must-knows before claiming Social Security
Why 62, 67, and 70 Are the Best Ages to Claim Social Security
My Comments: After earning a living as financial planner for many years, I've confronted the question of when to claim Social Security benefits both for my clients and myself. As I'm now semi-retired, I'm less inclined to post articles to my blog several days a week, but this topic demands some attention. If you were …
Continue reading Why 62, 67, and 70 Are the Best Ages to Claim Social Security
3 Key Social Security Numbers You Need to Know
My Comments: The Social Security System is approaching a crisis that was last comprehensively solved in 1983. It was running out of money. No one had properly accounted for the fact people were living longer and the amount collected from pre-retirees wasn't enough to assure new retirees of continued benefits. The passage of time, increased …
Continue reading 3 Key Social Security Numbers You Need to Know
Deciding When to Claim Monthly Social Security Retirement Benefits
This assumes you've been paying into the Social Security system for a while and will have a minimum of 40 credits in your name. Without 40 credits, you won't get any monthly retirement income. One credit per calendar quarter; 40 credits equals 10 years. If you're still reading this, and will have a minimum of …
Continue reading Deciding When to Claim Monthly Social Security Retirement Benefits
Does Social Security Need A Fix?
I started writing blogs with ideas to fix Social Security back in 2011. The last substantive fix happened in 1983 and it’s overdue for another. With about one in five seniors living in poverty, my assumption is that Social Security retirement benefits comprise a significant percentage of what seniors need to stay alive. Remarks from …
Working Past 65 Can Affect Your Social Security Benefits and Medicare Premiums
Why age 65? Why is that such a pervasive number when thinking about retirement? My assumption is that it first appeared in documented action in 1935. That’s when Congress passed the Social Security Act, designed to pay workers age 65 or older a monthly stipend from amounts they would pay into the system. I suspect …
Continue reading Working Past 65 Can Affect Your Social Security Benefits and Medicare Premiums
Social Security Changes for 2020: Raises, COLA, Taxes, Benefits
My Comments: Virtually all of us now retired depend to some degree on our Social Security retirement benefits. To suggest otherwise is silly. It’s now so ingrained in our financial lives that to maintain our standard of living, we must make sure we continue to receive those monthly benefits. That’s true no matter how much …
Continue reading Social Security Changes for 2020: Raises, COLA, Taxes, Benefits
Social Security: File Early of Later?
For millions of us, a monthly check for the rest of our lives has real meaning. We’ve paid into the system for years and for better or worse, we want our promised benefits. I have no idea if you consider yourself a “senior”. As I was passing through middle age, a “senior” was someone with …
10 Things to Know About Social Security in 2020
My Comments: As the article states, 64 million people receive a benefit payment every month, keeping at least 22 million of us above the federal poverty line. Beyond that, the article from Sean Williams speaks for itself. By Sean Williams \ 10 NOV 19 \ https://tinyurl.com/vm5dp2k Social Security is undeniably our country's most important social …
Continue reading 10 Things to Know About Social Security in 2020
Helping You Prepare Your Financial Future 