My Comments: There are good annuities and there are bad annuities. Most of the bad ones have been created and aggressively sold by insurance companies whose sole objective is to generate revenue for the company and their agents. The study results described below tell us why they have been successful. It’s not easy to find …
Continue reading Annuities are key to American retirement. So why are so few Americans buying them?
My Comments: I’ve taught Social Security workshops over the years and both my wife and I signed up for benefits. I think I know a little about this issue but this question inevitably resurfaces. And it’s become more problematical since there’s discussion now about changing the age criteria. This is largely because so many of …
Continue reading When Should You Start Social Security Benefits? It Depends
My Comments: These words appeared some time ago but are still very relevant to those of you expecting to retire at some point. Yes, it’s difficult to think about, but if you remain alive and well, retirement will arrive and having a developed framework in place will help you enjoy your retirement. As someone who …
Continue reading 5 Commonly Held Beliefs About Retirement That Are Simply Wrong
My Comment: My post earlier this week was designed to help you decide if waiting to age 70 to claim your Social Security benefits made sense. This post takes the same idea a step further. By Adam Levy / 10 DEC 2023 / http://tinyurl.com/b2nkwnbc One of the biggest decisions you'll make while planning for retirement …
Continue reading What is the Optimal Age for the Average Retiree to Claim Social Security?
My Comments: Social Security is a hot topic these days, partly because the last substantive real update solution to the underlying problem happened 40 years ago. We’re long overdue for bringing it up to date. When I signed up at 65, it was the only age available. Today there are 97 months to choose from. …
Continue reading Are Bigger Social Security Checks at 70 Worth Waiting For?
My Comments: I prioritize the following this way: #1 - #4 - #5 - #2 and #3. Yes, some of this is self-serving as I’ve been in the retirement planning business for almost 50 years. And yes, I’ve created an online course that features 8 critical questions you must ask of yourself, and answer, if …
My Comments: These words come from Suze Orman who is a recognized and highly published woman whose focus is financial matters for all of us. The message from both Suze Orman and myself is that we have to elect people to Congress who will act on behalf of all of us if Social Security is …
My Comments: This post follows up on my previous message about Social Security, aiming to clarify program details. Now, let's delve into the decision-making process for when to apply for benefits. The primary uncertainty in this decision revolves around one critical factor: the unknown timing of your departure from this world. This factor determines whether …
Continue reading Should You Take Social Security at Age 62, 67, or 70?
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. …
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
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