3 Consequences of Claiming Social Security at 62 You Might Not Know About
Nearly one-quarter of Social Security beneficiaries applied for benefits at 62, making it the most popular claiming age. It’s not difficult to understand why. When you apply for Social Security right away, you guarantee yourself the greatest number of checks. But there’s a reason that roughly three-quarters of beneficiaries don’t sign up then. When you […]
Here’s the Annual Income the Average Retiree Needs to Live Comfortably
One of the most complex aspects of retirement planning is determining how much money you need to save. There are many variables involved. Some, like your life expectancy, are nearly impossible to predict with accuracy. A lot also depends on how you envision your retirement, including where you’ll live and how you’ll spend your time. […]
Getting Divorced? 4 Steps to Help You Rebuild Your Plans to Retire.
January is often associated with the new year and fresh starts. That can mean new jobs or resolutions to improve your lifestyle. But it can involve difficult transitions too. In legal circles, January is often referred to as “Divorce Month,” because there’s an uptick in the number of couples that file for divorce after the […]
3 Myths About Social Security That Can Cost You
When was the last time you heard about 9 out of 10 people agreeing on something — anything? And yet that’s what happened when AARP surveyed Americans aged 50 and older. A full 90% of those surveyed said they recognize the importance of Social Security to a financially secure retirement. If you’re among the 90% […]
Some Say the U.S. Is on the Brink of a Retirement Crisis. See Whether You Agree — and What You Want to Do About It.
If you write financial articles for a living, as I do, in the course of your research, you’ll likely run across many articles with alarming statistics. It certainly happens to me. Here’s a roundup of some worrisome survey results suggesting that a retirement crisis is at hand. Check out the stats and see what you […]
Can You Live on Social Security Alone? Here’s What You Need to Know.
Social Security is designed to replace about 40% of the average person’s income after they retire, but this isn’t the same for everyone. In this video, Certified Financial Planner® Matt Frankel discusses this question in greater detail. *Stock prices used were the morning prices of Jan. 27, 2025. The video was published on Jan. 28, […]
3 Ways to Increase Your Social Security Checks After You’ve Already Claimed Your Benefits
Social Security is an essential source of income for American seniors. About half of households with someone age 65 or older receive the majority of their income from the government program, according to multiple studies reviewed by the Social Security Administration. At the same time, many seniors feel the spending power of their Social Security […]
Prediction: President Donald Trump Is Going to Break His Social Security Promise — and It’s Absolutely the Right Decision
There isn’t a social program in this country that’s more important to the financial well-being of Americans than Social Security. In 2023, it singlehandedly pulled 22 million people above the federal poverty line, including 16.3 million adults aged 65 and above. More importantly, it’s a program an overwhelming percentage of retirees count on to make […]
