3 Harsh Social Security Truths That Could Derail Your Retirement Security
Social Security plays a pretty big role in many people’s retirement planning — and with good reason. Benefits can start as young as 62; the income the benefits offer is guaranteed for life; and periodic Cost of Living Adjustments (COLAs) help ensure that seniors can keep up with rising prices. However, while you can and […]
Overpaid by Social Security? You Might Stop Getting Checks for a While
Getting extra money from Social Security might sound great to you, but a lot depends on the circumstances. If the extra money comes from a cost-of-living adjustment (COLA) or a law change, like the Social Security Fairness Act, there isn’t much to worry about. But if the extra money is from a mistake the Social […]
Oops! Americans Are Severely Underestimating Some Risks — And They Could Cost You a Lot
There are risks and costs to action. But they are far less than the long-range risks of comfortable inaction. — John F. Kennedy Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Few of us enjoy thinking about risks, but if we ignore them, […]
You May Be Surprised by the Amount of 401(k) Savings Americans Have in Their Retirement Accounts
There’s a reason 80% of older Americans are either struggling financially now or risk struggling financially in the future, per the National Council on Aging. Many seniors enter retirement with inadequate savings, which often results in years of financial stress. It’s easy to see why so many people struggle to save enough for retirement. Ongoing […]
Here’s the Maximum Possible Social Security Benefit at 62, 66, and 70
If you want to maximize your Social Security benefits in retirement, you’ll need to work a long, high-paying career. But the age at which you claim your benefits can have an even bigger impact on your monthly check than how much you earned. Many retirees opt to claim Social Security as soon as they become […]
On Social Security? 5 Recent Trump Administration Updates That Retirees Need to Know About
As a presidential candidate and after taking office, Donald Trump promised he wouldn’t cut Social Security benefits. He has honored that pledge so far in his second term. However, that doesn’t mean he hasn’t touched Social Security at all. There has been a flurry of activity at the Social Security Administration (SSA) since President Trump’s […]
3 Scenarios Where Using the 4% Rule Won’t Make Sense for Your Retirement
A recent Northwestern Mutual survey found that Americans think it will take $1.46 million to retire comfortably. That’s a sum that may be attainable if you start saving early enough. You, on the other hand, may be looking at even more than $1.46 million in your 401(k) or IRA — or maybe not. But no […]
