Social Security
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The New Rules of Social Security [Retirement Watch Fact Check]
Almost everyone has a Social Security number, and is eligible for Social Security benefits (starting at age 62). Yet, survey after survey indicates people know little about the program and its benefits. Moreover, a lot of what people think they know is wrong. Let’s take a look at some of the key misunderstandings and oversights […]
Should You Opt for Social Security Lump Sum Retirement Benefits?
Do you know there’s an option to receive up to six months of benefits in a lump sum when initiating Social Security retirement benefits? Not many people do, until they apply for benefits. While a nice option, too many people are surprised by it, and don’t receive the benefit package that’s best for them because […]
Social Security, Inflation, and Interest Rates
Many people benefit from delaying their Social Security retirement benefits until at least full retirement age. Delaying until age 70 can be an even better deal. For years I’ve shown people how to calculate the difference using what I call the quick-and-dirty method. The method involves calculating how many years you need to live after […]
Facts and Myths About Social Security
Almost everyone has a Social Security number and is eligible for Social Security benefits. Yet, survey after survey indicates people know little about the program and their benefits. Also, much of what people think they know is wrong. Let’s took a look at some key misunderstandings and oversights about the program. Understand benefit statements. The […]
How to Avoid the Retirement Medical Expense Surprise
The wildcard in every retirement plan is the cost of medical care. It probably is the cause of most retirement plan failures. There are several reasons medical expenses disrupt so many plans: Many people are used to employer-paid medical care. Before they retire, they do not realize the full cost of medical insurance. Employers used […]
How Improved Websites Boost Your Benefits
Government benefits are complicated. It often is difficult to understand the rules well enough to maximize benefits from Social Security and Medicare. The government agencies know this and in response recently added features to their web sites to make it less painful to learn your benefit options. I have reviewed these features and believe they […]
2008 Election and Your Tax Planning
The Presidential election is approaching. We cannot forecast a winner, but we can make judgments about how the tax law will change starting in 2009 and steps you should consider today in light of the likely changes. Some wealthy people already anticipate big changes and are making tax-saving moves this year. For, example, the announcement […]
How to Change Social Security Benefits
Deciding when to take Social Security retirement benefits is one of the more difficult retirement decisions. The decision affects lifetime monthly income of not only the recipient but also the recipient’s spouse. The choice of starting date can mean the difference of thousands of dollars over the course of retirement. Though few people realize it, […]