Almost half of all Millennials in the U.S. are living paycheck to paycheck, and if you’re one of them, retirement can seem too far off to think about. Even though you’re scrambling to pay your bills each month, you need to make saving for retirement a priority now because the longer you wait, the farther…
Social Security Articles
Are Millennials at a Higher Risk of Identity Theft
As a Millennial, technology plays a leading role in your everyday life. What you may not realize, however, is that your level of comfort with technology puts you at a higher risk for identity theft. Even though many websites require security questions as well as a password to gain access, the truth is that answers…
Claiming Your Social Security Early and The Tax Torpedo
If you’re worried about outliving your nest egg, you might assume that you’ll be better off taking your Social Security benefits early so you can allow your investments to continue to grow untouched. Unfortunately, this plan does not take into account the issue of how taxes affect your Social Security benefits. In particular, taking early…
How Social Security COLAs Are Calculated Might Surprise You
When the Social Security Administration first started paying out benefits in the 1940s, there was no provision in place for how to deal with inflation. Unfortunately, this meant that early beneficiaries saw the buying power of their benefits eroded as the years went by. This is why the Social Security Administration enacted the annual cost-of-living-adjustment…
9 Things You May Need to Know Before Claiming Social Security Retirement Benefits
Most Americans look forward to the day that they can start claiming Social Security Retirement Income. In fact, many aren’t just looking forward to it; they are depending on it! The Office of Retirement and Disability Policy recently reported that 62% of aged beneficiaries received at least half of their income from Social Security in…
Social Security Claiming Options for Singles
Single retirees can sometimes feel left out of the Social Security conversation, since it seems to focus solely on how married couples can make the most of their benefits. But it’s a mistake to assume that there are no Social Security claiming strategies to maximize benefits for solo retirees. The fact of the matter is…
Qualifying for Social Security Spousal Benefits if You Are Divorced or Widowed
As a woman, you are probably aware that you are statistically expected to outlive your husband. According to the Centers for Disease Control and Prevention 2015 Mortality Report, the average woman in the United States will live to age 81.2 years, and the average man will live 76.3 years. That means you can expect to live…
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