Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents or grandparents. And with longer life come difficulties – and sometimes financial predators.
If you already started Social Security benefits, can you change your mind? Yes. With a little trick called “file and suspend,” you can put your benefits on hold and restart them later to maximize retirement income.
Single folks who were never married have fewer Social Security filing options. Still, you should understand what they are and which fits your needs best.
Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.
Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.
Advancements in medical technologies, new procedures, diagnostic tests, and effective drugs continue apace. But like most things in life, there is an upside and a downside.
Those born in 1950 will turn age 65 next year. Confusion often reigns as these so-called “seasoned boomers” navigate various enrollment periods for Medicare and a plethora of choices. Let’s chart this maze.
Failure to understand Social Security can be costly. Here’s how to get the most out of your benefits. While the subject is complex and laden with acronyms, you need to understand it.
How much financial security can a person or couple derive from Social Security income? For many it is the bulk of retirement income. Per the Social Security Administration, 52% of married couples and 74% of unmarried persons receive half or more of their income from Social Security.
Isn’t it odd that the government’s economic growth number keeps climbing with each revision? You don’t think there is a political component to this, do you?
If you repeat something often enough, you may even start to believe it. So try this phrase: “The economy is improving. The economy is improving. The economy is improving.”
Your retirement income hinges on a seeming paradox: People increase dependence on Social Security even as the long-term solvency of the government golden years’ program reportedly dwindles. What tricks of timing and finances can give your benefits checks the biggest boost?
Waiting to collect is the key. Examples may give you a good idea.