Tag: Social Security
“The more you know about Social Security, the more you’ll likely be able to get out of the program.” Famous motivational speaker Zig Zigler reportedly said “If you want to earn more, learn more.” That’s true for careers and investments. It is also true for Social Security. The more you know how Social Security works, […]
“The BENES Act, which cleared committee Wednesday, aims to minimize the chance that beneficiaries get slapped with life-lasting late-enrollment penalties.” More older workers are remaining in the workplace. In 2016, about 60% of 65-year-olds were receiving Social Security benefits, compared to 92% in 2002. Consumer advocates expect that change to result in a growing number […]
“Having a child with special needs can come with all sorts of unique challenges from a financial and estate planning standpoint. Public benefits, for example, can play a huge role in anticipating how much money your child will need down the road in your later years, as well as when you’ve passed away.” Many government […]
“When should you sign up for Social Security? It is a good question. Many seniors grapple with that decision, and understandably so, since the age at which you claim benefits will dictate how much money you will receive each month during retirement.” There’s an unfortunate tendency to focus on how to get the most out […]
“Medicare has a series of income limits that trigger increasingly higher payments for retirees. And it’s not just the rich who are affected.” A 70% increase in Medicare premiums to $559 was a complete surprise to a woman who became a single taxpayer when her husband died. She felt like she was being punished for […]
“It can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.” When a member of a family dies, it falls to the people left […]
“For most Americans, Social Security plays an important role in maintaining retirement security. The benefit payments represent an income stream that is free of default, investment, inflation and longevity (outliving your money) risks.” For decades, Americans have taken comfort from knowing that no matter what else happened with their retirement savings, they would be able […]
“When a member of your family dies, you could be left to pick up the financial pieces. Finding all the information you need can be challenging.” This year, more families than usual are finding themselves grappling with the challenge of managing the affairs of a loved one who has died. Handling these tasks while mourning […]
“Now you can actually have a voice in who is chosen, but you need to do it while you have capacity.” For many years, people have had the right to designate an agent to handle a number of different legal, business and medical matters. That includes finances, medical decisions, wills and even funerals. What Americans […]
“For many older adults, claiming Social Security early would be a big mistake. It was a mistake made by many older workers, who lost jobs in the Great Recession.” For older employees who are laid off as a result of the pandemic, the idea of an early retirement and taking Social Security benefits early may […]
