Update: Good news for the millions of Americans who rely on Social Security – they will be getting a raise in 2012, the first time since 2009. The Social Security Administration (SSA) announced that the cost of living allowance (COLA) increase for 2012 will be 3.6%. According to SSA, the average monthly benefit for retirees [...]
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As you get closer to retirement one of your top questions is probably when and how to apply for Social Security benefits. Should you submit your Social Security application at age 62 or 66? What are the steps to apply for Social Security once you’ve decided to start collecting retirement benefits? We’ll address these questions and more in the following paragraphs.
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Spouses who do not work or who have substantially lower earnings than their spouse may be able to collect Social Security benefits based on their spouse’s earnings. Below is a common question about spousal benefits when one spouse is a homemaker.
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A popular question that I hear from baby boomers getting ready to retire is “how are Social Security benefits calculated?” This is an important question because it could affect how long you need to work, whether you should continue to work during your retirement years, or other aspects of your retirement plan. First, please note [...]
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Spouses who do not work or who have substantially lower earnings than their spouse may be able to collect Social Security benefits based on their spouse’s earnings. Below is a common question about spousal benefits.
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You’re getting ready to retire and you’ve made the decision to start collecting your Social Security retirement benefits. What’s the next step? You need to actually apply for your benefits (they aren’t automatic). Probably one of the most common Social Security questions is how to apply for Social Security benefits. There are three ways to [...]
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Most people underestimate the impact that Social Security retirement benefits will have on their retirement. They either assume it won’t be there for them, or that it won’t be enough to make a difference. The truth is that Social Security will be there for you (although I suspect it will be revised several times to [...]
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Earlier this year, retirees on Social Security saw one of the largest COLA increases they’ve seen in years – since the 1980s to be exact. Unfortunately, the Social Security COLA is expected to be zero for the next few years. If you’ve been receiving Social Security for a while, you know that your benefits are [...]
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How to Maximize Your Social Security Benefits Now that you understand a little more about how Social Security retirement benefits work, and how important this income stream can be to your retirement, here are some tips to help you get the maximum Social Security benefits you are entitled to: Maximize Your Social Security Earnings Your [...]
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As Baby Boomers are getting closer and closer to retirement, they have many questions about Social Security retirement benefits, such as… Will Social Security be there for me when it’s my time to retire? We’ve heard for years that Social Security is going broke. Millions of Americans rely on Social Security to fund all or [...]
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