Daily Retirement News Update
August 30, 2020
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Three Great Reasons to Take Social Security at Age 62 Most financial planners and other experts tell you to wait as long as possible to claim your Social Security benefits. There are, though, reasons to claim them as soon as soon as you can. Here are three great ones. See them here!
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The Smart Way to Claim Social Security Benefits During a Pandemic With the pandemic closing Social Security offices, meeting with a counselor to discuss how to claim your benefits is not option. So here are the things you need to do to start the claims process. See them here!
Does Your Credit Score Matter Once You Reach Retirement? If you reach retirement and think you are done borrowing money - no need for a new car or a new house - then you might think that your credit score no longer matters. Most financial advisors say, however, that a good credit score is essential, no matter what your age. Find out why!
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Five Top Destinations Where $30,000 a Year (or Less) Can Support a Nice Lifestyle The U.S. is an expensive place to live, particularly if your income drops at retirement time. Here are five destinations where you can have a comfortable retirement on about $30,000 per year. Best yet, you might have a beach outside your front door or live in a beautiful UNESCO World Heritage town.
Who is Most at Risk of Retiring Broke? Unfortunately, many Americans have not saved enough for retirement and face a bleak post-working financial life. One group in particular may struggle more than most.
Have You Heard About This Latest Social Security Scam? In addition to the standard phone scam in which a criminal pretends to be from the Social Security Administration, now thieves are faking documents with SSA letterhead and emailing them to beneficiaries. These emails often include threats.
How Does Your 401(k) Balance Compare to the Average? To ensure a comfortable retirement, employees should be contributing about 16% of their income, including an employer match, to their retirement fund account. In reality, employees contribute about 8% to their retirement fund vehicle, typically a 401(k). So how does your 401(k) balance compare to the average?
How Can You Increase Your Social Security Check? Nearly 65% of retirees rely on Social Security for the bulk of their income after they stop working. It's therefore important to make sure that your benefit check is as large as it can be. How do you do that? Are You Ready for These Three Expensive Potential Retirement Situations? You might have a financial retirement plan in place, confident that you have everything covered for the day you stop working. But as they say, men (and women) plan, and the universe laughs. What are three expensive potential events that you might not have thought of that could throw your retirement off course?
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