When you file for Social Security, two provisions – file and suspend and restricted application filing – are likely to confuse you the most. They’re complicated yet potentially a big help if you want to maximize benefits. Here’s how to get the most out of your benefits.
After decades of hard work and saving, you finally enter your golden years. If you’re gearing up to retire this year, here are five tasks to keep in mind, from spending cash to spending time.
Health-care costs for seniors receive a lot of attention, but many people fail to consider other important aspects of elder care. Tackling difficult conversations about elder care now helps you make informed decisions about this unavoidable stage of life.
When signing up for Medicare at 65, you have to decide what type of coverage to buy. (No, Medicare is not free.) You need to determine your health-care needs and figure the costs into your retirement planning. Here’s a breakdown.
The health of an elderly parent falters and fails, a home for decades gives way to a hospital room and suddenly the longtime source of family unity and strength can’t even live alone anymore. That’s a family challenge that often sends adult children to a financial advisor for help.
Why do baby boomers face such dispiriting retirement prospects? The enormous size of this age cohort, born between 1946 and 1964, led to a ratcheting back of old-age benefits. Statisticians figured society simply couldn’t afford to be as generous.
Retirement isn’t easy for most couples, and it’s even harder for lesbian, gay, bisexual and transgender (LGBT) people. A modest amount of planning can go a long way to providing the financial support you need.
If you receive a government pension, your Social Security benefit may suffer a reduction due to a rule called the Windfall Elimination Provision. It pays to know how it works when you plan for your retirement income.
Inflation is the worst enemy of retirees. It is a far bigger threat to your financial security in retirement than any potential for investment loss. Preparing for inflation is crucial. Here are a few tips.
If you’re like most who think about how much you need for your golden years, you probably calculated based on still having a spouse. Widows, widowers and divorcees approaching retirement and about to file for Social Security, though, need to recognize filing options that can significantly increase monthly benefits.