2 2025 Spousal Social Security Benefit Changes All Married Couples Need to Know
The start of a new year usually means changes to Social Security, and this year is no different. The changes to Social Security retirement benefits and changes that affect workers still paying into the program often get the most attention, but spousal benefits see changes too. If you’re already claiming spousal Social Security benefits or […]
Will Donald Trump Be a Good President for Social Security Beneficiaries? That Depends on What You Mean by “Good.”
President-elect Donald Trump is set to take office on Jan. 20, and while many Americans are excited about the changes he may make in his second term, others remain anxious. One of the issues that many seniors will be keeping a close eye on over the next four years is Social Security, which is inching […]
Retiring in 2025? Here’s How to Know if You Should Claim Social Security Right Away
If 2025 is the year you’re retiring, congratulations. You’ve probably been counting down to this milestone, and you’re hopefully excited about this next phase of life. A lot of people make plans to retire and claim Social Security simultaneously. But should you? Run through the questions to find out. Where to invest $1,000 right now? […]
4 2025 Retirement Moves That Could Make You a Millionaire by 2050
Most of us will spend at least 40 years in the workforce, and while that sounds like a lot of time, if you ask any retiree, they’ll probably tell you otherwise. The days and weeks might pass slowly, but the years keep getting faster. That’s why it’s important not to put off retirement savings any […]
Social Security: Here’s What Happens to Your Benefits if You Get Divorced in Retirement
Social Security can go a long way in retirement, and if you’re married, you could be entitled to extra cash each month in the form of spousal benefits. The average spouse of a retired worker collects around $909 per month in benefits, according to November 2024 data from the Social Security Administration. But what happens […]
The Unfortunate Truth About Claiming Social Security at Age 62
One of the most important retirement planning decisions you’ll make in your golden years is when to apply for Social Security. The most popular age to claim retirement benefits, by far, is 62, the first year you become eligible. While most retirees understand that claiming at 62 will result in a lower monthly benefit, they […]
I Absolutely Prefer a Traditional IRA to a Roth IRA for Retirement Savings. Here’s Why.
Most investors may not realize it, but we’ve got access to far more retirement savings options than were offered just a generation earlier. The traditional IRA didn’t exist until 1974, and 401(k) accounts weren’t a thing until four years later. Roth retirement accounts only surfaced in 1997, and Roth 401(k) accounts weren’t allowed until 2006. […]
3 Reasons Why I Won’t Claim Social Security at Age 62
What’s the most popular age to file for Social Security retirement benefits? It’s 62 — by far. Many Americans are ready to retire as early as possible after working for decades. I understand the sentiment. However, I don’t plan to follow the crowd. Here are three reasons I won’t claim Social Security at age 62. […]
Social Security Benefit Cuts Are an Estimated 8 Years Away — Here’s How Much Your Monthly Check Would Shrink
Regardless of whether you’re just entering the labor force or have hung up your work coat for good, Social Security income is likely to play a key role in your financial stability during retirement. For the last 23 years, national pollster Gallup has surveyed retirees to determine how reliant they are on the monthly Social […]
