Social Security

5 Social Security Myths That Seniors Are Falling For

25th Dec, 2016

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5 Social Security Myths That Seniors Are Falling For

From: linkedin.com

Social Security is a sensitive topic for people of all ages, but especially for the 65 million Americans who today claim its benefits after paying taxes into the fund throughout their careers. There are a lot of myths around the Social Security program that need to be debunked. Here are some of the biggest that seniors should not fall for or…

Which comes first: Social Security or IRA withdrawals?

6th Sep, 2016

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Which comes first: Social Security or IRA withdrawals?

From: financial-planning.com

It is a retirement dilemma.

When planning for retirement cash flow, should a client start Social Security as early as age 62, letting individual retirement account money continue to grow, tax-deferred? Or should that client tap the IRA and wait for a larger Social Security benefit?

A client who would receive $1,500 a month at 62 would collect $2,640 a month, plus any cost-of-living…

Did You Ever Notice the Asterisk on Your Social Security Statement?

28th Aug, 2015

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Did You Ever Notice the Asterisk on Your Social Security Statement?

From: nationalreview.com

While engaging in the mundane task of gathering financial statements for a “secure retirement” meeting with my husband’s and my adviser, this Baby Boomer stumbled upon documented proof that our nation does not have the guts to confront one of its most serious economic problems. The realization came when I pulled from my files a document statement innocently titled,…

4 Things All Americans Should Know About Social Security

24th Aug, 2015

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4 Things All Americans Should Know About Social Security

From: time.com

How well do you understand our federal insurance program?

Two recent surveys show that Americans are severely lacking when it comes to even basic Social Security knowledge. For example, the majority of people don’t even know what the normal Social Security retirement age is. And knowledge of topics like citizenship requirements, ability to work while collecting Social Security, and the future ability…

Social Security: How To Get What’s Yours

22nd Apr, 2015

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Social Security: How To Get What’s Yours

From: hereandnow.wbur.org

Today, like every day, some 10,000 baby boomers will reach retirement age and become eligible to receive Social Security benefits. A new book explains that how and when you tap into Social Security benefits can dramatically alter how much money you get. It’s called “Get What’s Yours: The Secrets to Maxing Out Your Social Security.”

The authors of the book are Laurence Kotlikoff, a…

How Big a Role Should Social Security Play in Your Retirement?

15th Apr, 2015

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How Big a Role Should Social Security Play in Your Retirement?

From: msn.com

NEW YORK – Social Security is still a huge part of U.S. workers’ retirement plans, but they aren’t happy about it.

As a Bankrate survey points out, Americans are getting a bit more pragmatic about Social Security’s role in their eventual retirements. Just 13% expect it to account for all or most of their retirement income. Meanwhile, another 14% expect…

The Long And Short Of It

6th Apr, 2015

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The Long And Short Of It

From: fa-mag.com

Americans are living longer than ever before. And to make sure their retirement income goes the distance, they’ve turned to a number of alternatives, including one whose entire reason for being is to solve this problem: the longevity annuity.

A type of deferred-income annuity—as opposed to an immediate annuity—the longevity annuity was developed more than a decade ago to help retirees hedge against outliving their…