Generally speaking, the average American should not be taking those benefits that early. Here are a few reasons why taking Social Security at 62 is a truly bad idea. There are also three situations when it makes sense to claim early.
One of the major perks of having federal student loans is that there are several repayment plans based upon what you can afford to pay rather than what you owe. Will student loan payments increase as the result of an inheritance?
If you're thinking about claiming Social Security, these five tips could help.
Collecting Social Security may be one good part of getting older, but if you don't make the right choice of when and how to file for this benefit, you may be leaving money on the table.
If you claim Social Security early, your checks will be permanently reduced. Consider looking for income elsewhere so that you can wait until full retirement age.
Hucksters posing as Social Security Administration (SSA) employees are calling benefits recipients across the country, Social Security's Office of the Inspector General (OIG) said in a recent consumer warning,
Will Social Security send your benefit to the foreign country you're living in? It depends on the country. What about Medicare? What if you need to conduct Social Security business:? This article answers those questions and more.
Legislation passed in the early 1980s gradually increased the full retirement age for Social Security, which is why it currently sits at 66 for beneficiaries reaching retirement age. If you're born after 1954, your retirement age will be even later than that. Here's what you need to know about your full retirement age, and what it could mean for your Social Security retirement benefits.
You probably know the significance of age 65 (Medicare!). But how about age 50? Or age 59½? Or 62? These are just a few of the important milestones that retirees and future retirees need to prepare for.
If Congress makes no changes in taxes and benefits, benefits will need to be cut in 2034.
Financial expert JB Bryan discusses Social Security benefits for retirees, as well as for those who may have disabilities.
If you have kids who won't graduate from high school until sometime after you turn 62, your family may qualify for extra dollars from Social Security. And those payments for dependent children may make it financially advantageous to file for retirement benefits earlier than you might otherwise.
The Social Security website used to have a break-even calculator, but it was determined several years ago that it could mislead applicants into claiming benefits sooner than would be in their best interest.
If you are inheriting an IRA, you need to know these 5 key provisions.
Deciding when to take Social Security is an important decision. Edward Jones has created a Social Security “LENS” framework that can help you.
Even if your retirement is decades away, you should set up an online Social Security account. If you're close to retirement, do it right now.
Social Security provides an enormous return for those who are patient. Don't get too hung up over taxes on retirement plan distributions.
There are lots of articles that offer advice about when to begin receiving Social Security retirement benefits. Few provide guidance on how to apply.
Whether you're the benefactor or beneficiary, what you don't know about an inherited IRA can foil your plans. Avoid costly mistakes by knowing these rules on IRAs.
You already know that delaying benefits may increase your monthly Social Security check. Here are four other ways to increase your monthly benefit.
While you will get more individual payments by filing early, you'll ultimately lose out on lifetime benefits if you live until your mid-80s, which is what the Social Security Administration considers the standard life expectancy for the average 65-year-old today.
The most popular age for claiming Social Security is 62. Why do so many people claim this early?
Planning on an early retirement? You may want to reconsider.
Once an option loaded with expenses, tapping your home equity with a reverse mortgage is a more viable retirement income planning strategy.
Annuities can help you avoid outliving your retirement income. But, they aren’t for everyone. Before you buy one, ask these five questions.