There's no simple, one-size-fits-all answer when it comes to timing a claim — your longevity, savings and any other sources of income become important factors. And yet, knowing when to take Social Security just might be the most important decision you’ll make as you head into retirement.
For many older Americans, working in retirement is desirable either to provide extra income or to fill time with an enjoyable career. But far too many seniors are afraid to hold a job because of something called the retirement earnings test (RET).
Typically, open enrollment starts in mid-October and runs through early December, but getting a head start will help. Here are a few things to look out for.
If your tax returns don’t show enough income to qualify, you may be able to tap your retirement account temporarily to prove you can afford the mortgage. Alternatively, you may be able to qualify based on assets in that account, or explore “pledging assets” to make the purchase.
For some Medicare beneficiaries, the pandemic means worrying about more than just their increased health risk from Covid-19. It also raises the specter of large, unexpected medical expenses.
Insurance company MassMutual recently posed 12 true/false questions about the federal program to 1,500 Americans via an online poll. More than half of the respondents — 52% — either failed or barely passed the quiz. Of those respondents, 33% failed and 19% got a D. It’s a reminder of the importance in improving one’s understanding of this key program.
An unfortunate side effect can accompany a job loss: no more employer-subsidized health insurance. For people age 65 or older in that situation, Medicare is generally the solution. Here are some tips.
Pandemic or not, it’s important to consider what would happen to your bank accounts, your home, your belongings — i.e., everything you own — and, perhaps, your dependents, if you’re no longer here.
Millions of Americans received stimulus checks from the U.S. government this week to help stave off the negative economic effects of the coronavirus. But many people are still asking: Where is my money?
As the market hits the skids, you shouldn’t make rash moves with your portfolio. And that includes one retirement income source you might turn to for safety: your Social Security benefits.
Dust off your calculator and sharpen your pencils: Jan. 27 is the first day of tax season. Here's what you should do to make the process as speedy and pain-free as possible.
The rising debt poses risks. For example, it could leave the federal government with less spending power in a downturn. But it also could have some positive implications for your personal finances.
