The mechanics of waiting to receive Social Security retirement benefits until after your retirement age are daunting. You can receive a lot more through waiting until age 70. Let’s explore how this all works.
Social Security benefits are complex and you can often miss benefits you are entitled to. If you fit into one of the categories below, pay attention.
One reason retirement funding may mystify you: How do you know when you saved enough so you won’t run out of money during your golden years? The answer begins with an understanding of your day-to-day expenses, and how those expenses may change in 30 or more years of retirement.
You might think that dealing with a federal agency, such as the Social Security Administration (SSA), means long lines in some office near you. Not so: If you’re an adult, you can monitor your benefits situation with a few clicks of the keyboard and start serious planning for your retirement income.
If you plan to retire soon and you’re divorced, you may be entitled to additional Social Security retirement benefits based on your ex-spouse’s work and earnings record. Here’s how to get what you might well be entitled to.
Do additional earnings on your record after retirement age increase your Social Security benefit? The answer, as with many of these calculation-type questions, is a fully qualified “maybe.”
Cut a pie into 100 slices and what do you have? Barely a nibble. Seemingly an inconsequential share of anything, 1% can actually make a tremendous difference to your financial security. Even fractions of a percent added to investment returns over time can redefine your life in retirement or your net worth.
You may count on Social Security as a mainstay of income in your looming retirement. When you take benefits and how much you keep working can shrink that monthly check, though. Here’s what to know.
You face fewer sad events in life as emotionally draining as losing your spouse. You are often swept up in the whirlwind as you prepare the funeral and make final arrangements to say good-bye. Once you emerge, often overwhelmed and lost, what do you do next to put your financial life in order?
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.