Results for "social security"

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Richard Thaler wants to use 401(k)s to boost Social Security payments

April 18, 2019

Nobel laureate Richard Thaler wants to mesh 401(k) plans with Social Security benefits to help Americans simplify what is perhaps their most daunting and complex financial issue: drawing down retirement assets. Mr. Thaler, who won the Nobel...

Update on Social Security reform

March 26, 2019

Well, it's a start. A House panel held hearings in mid-March on a bill that would expand Social Security benefits and stabilize the long-term finances of the nation's premier retirement system. But don't get too excited. The Social Security...

Choosing between a retroactive lump sum and a bigger monthly Social Security benefit

March 19, 2019

Jim Perry, a financial adviser with Edward Jones in Coral Gables, Fla., was surprised to learn that retirees who claim Social Security benefits after their full retirement age are eligible for up to six months of retroactive benefits paid in...

Future retirees ponder Social Security strategies

March 6, 2019

I often get questions from people who were born in 1960 or later about whether it would make sense for them to delay claiming Social Security benefits beyond their full retirement age of 67. My usual answer is I don't know. Much of that decision...

2019 is a key year for Social Security

February 20, 2019

I'd like to try to clear up some confusion about Social Security claiming strategies that was triggered by one of my recent columns.​ In last week's column, I wrote that people who reach their full retirement age of 66 in 2019 are the last...

Rules for claiming Social Security at 70

February 11, 2019

By now, most financial advisers and many consumers realize that delaying Social Security benefits until age 70 can pay off big time. For every year individuals postpone claiming benefits beyond their full retirement age, they earn an extra 8%...

Don't wait too long to claim Social Security

February 4, 2019

If delaying Social Security benefits for a few years results in a bigger check, then delaying a little longer should result in an even bigger one, right? Wrong! This is one of the false assumptions I encountered last week during my annual trip...

Social Security and gray divorce

January 2, 2019

Over the holidays, a financial adviser contacted me with questions about how to help one of his newly divorced clients, a classic example of the growing trend of gray divorce, which occurs when a long-time marriage dissolves in or near retirement....

Calculating Social Security survivor amounts

December 19, 2018

Some of my favorite column ideas come from readers' questions. This is one of them. A financial adviser wrote to me recently regarding a client who wants to wait until age 70 to claim his Social Security retirement benefit to ensure that his...

Couples should coordinate Social Security, Medicare decisions

December 12, 2018

Young couples who marry, and even older couples tying the knot for the second time, may be prepared to utter the traditional wedding vow of 'til death do us part. But how many of them realize that their entwined lives will dictate key retirement...

Countdown to Medicare and Social Security checklist

November 24, 2018

Age 62 Earliest age to apply for reduced Social Security retirement benefits, subject to earnings restrictions if working. Age 64 Research Medicare options. Age 65 Enroll in Medicare. Those who claim Social Security benefits early are automatically...

For some women, widowhood produces a windfall — and plenty of headaches

November 17, 2018

Because of women's longer average lifespans and likelihood of widowhood, most discussions about women's retirement planning tend to focus on the financial risks of aging alone and the fact that single women over the age of 65 are more likely...

Future retirees focus on taxes

November 1, 2018

In the past, retirees relied on their accountants for tax advice. But future retirees increasingly are looking to their financial advisers for guidance on how to maximize their spendable retirement income by minimizing their taxes, according...

Social Security and the fear of missing out

October 15, 2018

Fear of missing out, or FOMO, is generally associated with millennials who worry that something exciting is happening elsewhere when they're not there. But baby boomers are not immune from FOMO — a word officially added to the Oxford Dictionary...

Social Security COLA for 2019 will be 2.8 percent

October 11, 2018

The Social Security Administration announced Thursday that 63 million beneficiaries, including retirees, disabled workers and their eligible dependents and surviving family members, will receive a 2.8% increase in benefits next year, the largest...

Mary Beth Franklin: Slowing drug costs temper health care inflation

October 3, 2018

The latest projection of retiree health care cost trends is a good news-bad news story that can arm financial advisers with appropriate inflation estimates to crank into their retirement income plans. In a positive development, overall annual...

Mary Beth Franklin: Ways to modernize Social Security benefits

October 3, 2018

Frankly, I am amazed and disappointed that the nation is only a month away from midterm elections in November and virtually no candidates from either party have mentioned Social Security. Ignoring the obvious does not diminish the fact that...

Determining if a message from Social Security is a scam

September 19, 2018

A financial adviser contacted me recently to ask if the email he received from the Social Security Administration reminding him to review his estimated benefits statement online was valid. "Does Social Security send out these types of emails,...

2019 Social Security cost-of-living adjustment now expected to be 2.8 percent

September 14, 2018

Update: Social Security COLA for 2019 announced; will be 2.8 percent​ It looks like Social Security benefits will increase by about 2.8% in 2019. Although that's down slightly from an earlier estimate, it still would be the largest benefit...

Inaccurate info from Social Security Administration a challenge for widows

September 12, 2018

Losing one's spouse is one of life's most difficult and overwhelming experiences. Claiming Social Security survivor benefits apparently ranks as a close second based on a frantic phone call I received from a close friend this week. My friend...

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