Tag Archives: Security
AARP position on Social Security and Medicare is not realistic
It’s just not possible to exempt Social Security and Medicare from budget cuts and make a serious dent in the budget
Delay Social Security, Increase Your Benefits
NEW BERLIN, Ill. (TheStreet) — It’s usually best, for most things in the financial world, to act now rather than wait around. The notable exception is in applying for Social Security benefits. We’ve discussed it before, but it is an important point that needs more emphasis. As you’ll see from the table below, if you were born after 1943 (that’s you, boomers!) you can increase the amount of your Social Security benefit by 8% for every year you delay getting benefits after your full retirement age.
If you are delaying your retirement beyond FRA, you’ll increase the amount of benefit you are eligible to get. Depending upon your year of birth, this amount will be between 7% and 8% per year that you delay — which can be an increase of as much as 32.5% if you delay until age 70 and were born in 1941, when your FRA is 65 years and eight months and the increase amount is 7.5% per year at that age. Look at the increase amounts per year based upon birth year:
Social Security Raise Welcomed in Tough Time
By Matt Sedensky, Associated Press
WEST PALM BEACH, Fla. (AP) — For some, the just-announced increase in Social Security checks amounts to an extra meal out, a little more cash for clothes or a new pair of shoes, some added comfort in retirement. For Elizabeth Davis, it’s a crucial boost to the only thing keeping her afloat.
The 71-year-old Miami woman grew up picking cotton on her family’s South Carolina farm, raised four children and has worked all her life, even now at a preschool. She is divorced, and her small 401(k) account “went down the drain,” she said. So she counts the days to the third Wednesday of each month, when her $ 668 Social Security check arrives and she is able to pay her bills.
For some, an increase in Social Security checks amounts to added comfort in retirement. For others, it’s absolutely vital.
Ask the Experts: Happy Birthday Social Security
Executive editor Jack Otter, blogger Ray Martin and money guru Lauren Young answer your questions about Social Security, which just celebrated its…
Retirement RSS | MoneyWatch
Seniors: We need our Social Security!
Don’t you dare withhold our Social Security payments!
Retirement advice and news – CNNMoney.com
Planning for smaller Social Security checks
I’ve heard that the government might “means test” Social Security so payments would be reduce or eliminated for people with higher incomes. Do I understand this potential threat to the Social Security component of my retirement plan correctly? — W.P., Bellevue, Washington
Retirement advice and news – CNNMoney.com
Ask the Actuary: Rocket Scientist Needs Help Understanding Social Security Benefits
If you’re confused by the complex rules on Social Security’s spousal benefits, don’t feel embarrassed. Here I answer questions from a real rocket…
Retirement RSS | MoneyWatch
Boost Your Social Security Payout By $100,000
The most important decision you’ll make regarding your Social Security income is when to start receiving benefits. Read here to learn two simple…
Retirement RSS | MoneyWatch
