When Social Security’s trustees issued their annual report on the program earlier this year, it forecast that costs will exceed income next year for the first time since 1982 and that, if no action is taken, the program will run out of money by 2035. Given this, is it time to rethink the common financial wisdom that says it’s best to delay collecting Social Security in order to receive higher benefits? Might it now be wiser to start collecting Social Security early? CLICK HERE.
This Social Security claiming strategy was eliminated by Congress as part of a 2015 law, but a few million Americans are still eligible to use it thanks to a grandfather clause – and those individuals (married couples and some divorced people of a particular age group) may well want to consider taking advantage of this strategy while they still have the chance. For more, CLICK HERE.
The author of today’s article – who is fortunate enough to have a pension – is concerned about the majority of Americans (including his own children) who are not so fortunate, and who will have to rely on Social Security and their investments to fund their retirements. His fear? “Even if these folks are saving regularly, they don’t really understand how to invest or how to manage their nest egg once retired.” He proceeds to outline everything involved in making a pension-less retirement work. For more, CLICK HERE.
$3.4 trillion. According to a new study, that’s how much retirees have lost, and are losing, by not making the optimal decision when it comes to when to claim Social Security benefits. That’s $111,000 per household! According to the study, “the average Social Security recipient would get 9% more income in retirement by making the ‘financially optimal’ decision about when to claim benefits.” So what is the “financially optimal” decision – and why aren’t retirees making it and leaving trillions on the table? CLICK HERE.
“Social Security is what it is — and it isn’t what it isn’t,” states the author of today’s article who argues that, while Social Security is an asset, it is not a bond – and thus investors are ill-served by considering Social Security part of their retirement portfolio’s bond allocation. What is Social Security, what isn’t Social Security – and how does the author recommend fitting it into an overall retirement portfolio? CLICK HERE.
“Money and rationality don’t always mix…That’s especially true with retirement,” notes the author of today’s article. Just one example of many: The fact that nearly half of Americans claim Social Security benefits as soon as possible (age 62), foregoing a significantly larger benefit had they waited. Fortunately, insights from behavioral finance can help “nudge” individuals towards making more rational decisions as they enter retirement. For four critical retirement decisions – related to Social Security, annuities, asset allocation and consumption rates – and how behavioral science can help nudge retirees towards more optimal decisions – CLICK HERE.
When it comes to credit scores, buying cars (and buying homes), 401(k)s (and Roth 401(k)s), savings accounts, life insurance (and auto and homeowners and long-term care insurance), wills and beneficiaries (and powers of attorney), Social Security and more, the author of today’s article poses the following question: “What does a good financial life look like?” For his 45-step roadmap to achieving one, covering all of the above and more, CLICK HERE.
With most financial experts advising that primary wage earners delay taking Social Security until age 70 (as delaying can result in payments that are 70% higher), the author of today’s article acknowledges that “for those who do want to maximize their benefits, that means utilizing other assets in the meantime which requires some strategizing.” He proceeds to outline one potential strategy – the Spend Safely in Retirement Strategy – that allows you to effectively create your own annuity or pension income stream. For more, CLICK HERE.
“Maybe your retirement plan is on track, but that doesn’t mean you can rest easy. We all exist within a society and an economy. Its problems are ours, too, as we may find out when taxes rise to help pay for others to retire,” warns the author of today’s article. He proceeds to examine the state of retirement in the U.S., including how Social Security is not enough for a secure retirement, the disturbing reality regarding Americans’ retirement savings, the “indexing problem” inherent in retirement accounts, and the “double problem” facing Baby Boomers. For more – including some strategies to help counter these concerns – CLICK HERE.
Noting the troubles ahead for Social Security, the author of today’s article warns “Don’t count on the government, your employer, or anyone else to pay for the lifestyle you want to enjoy in retirement. It’s truly up to you.” To help you in this endeavor, he proceeds to highlight two stocks that have been rewarding shareholders with massive gains – and are positioned to continue doing so for decades to come. For these two stocks – including a $94 trillion investment opportunity centered around the global expansion of the middle class – CLICK HERE.