Social Security, retirement planning, and annuities.
Most of us don’t really know what our Social Security number means. Why is one person’s number so very different from someone who was born in the same hospital a few years later? Do they recycle Social Security numbers? What do those three sequences represent? And what is a Social Security number? According to the […]
Choosing where to live in retirement can be tough. How’s the health care system? Is it close enough to friends and family for regular visits? Is the weather nice? Are there lots of social activities for older residents? These questions barely scratch the surface of the things to consider — it can be a lengthy […]
If you’re looking at living as frugally as possible in your retirement, you may be considering moving to a state where the cost of living is more affordable. In the United States, the average retiree needs about $904,000 to cover their living expenses in retirement. Some states, like Hawaii, can cost twice that amount, but […]
Introduction Americans have always struggled to save. Many live paycheck to paycheck, on the very edge of financial security. Historically, that savings shortfall has been all the more dramatic when it comes to saving for retirement. But with the coronavirus pandemic and the havoc it has wrought on the economy, that retirement savings gap may worsen. […]
Coronavirus has affected almost every part of our everyday lives – but one, in particular, is critically important for millions of Americans: Social Security. The crisis and uncertainty has already impacted the 61 million Americans collecting Social Security benefits today. For example, Social Security offices are closed and scam callers with supposed ‘news about your benefits’ are […]
Where you live in retirement can have a big impact on your annual expenses. While the average annual cost of living in the U.S. is $51,624, that figure can fluctuate significantly — from nearly double that amount in the most expensive state to just under 90 percent in the least expensive. Consider the average retirement […]
Former wives (and all spouses, for that matter) of a worker who dies can receive Social Security divorced spouse benefits, as either spousal or survivor benefits. Moreover, they can receive benefits at the same percentages as widows and widowers), as long as the marriage lasted at least 10 years. That changes if the surviving spouse remarries before age […]
It may seem logical that if you never worked — and therefore never paid into Social Security — that you would not be eligible to receive Social Security benefits. Well, that’s not the case. In fact, there are several different scenarios in which a person can receive Social Security benefits without ever having paid into the system, […]
Where you choose to live, particularly in retirement, can have a big impact on your bottom line. Some states have higher property taxes than others. Some states tax things like food. Some states have no income tax at all, while others tax income including Social Security benefits. Many Americans mistakenly believe that Social Security is not taxable, so […]
Navigating Social Security can be confusing. If you’re wondering how to apply for Social Security benefits, our Application Checklist breaks down what you need to know, step by step. Application Checklist to Apply for Social Security Benefits #1 Calculate the best age to claim Social Security retirement benefits #2 Pick the right date to […]