Friday, 5 December, 2025
To avoid outliving your retirement savings, you need to take a strategic approach that involves careful planning and disciplined spending. Below are specific tips with dollar amounts based on a person with an average lifetime salary of $75,000 a year. 1. Understand Your Living Expenses Rent/Mortgage: If you’re paying $1,500/month […]
A growing number of Americans aged 50 and older are feeling uneasy about their financial security in retirement—particularly when it comes to whether their Social Security benefits will keep pace with inflation. According to a recent AARP survey, nearly 90% of people in this age group—whether already receiving or expecting […]
Retirement is meant to be a time of comfort and financial stability, but many retirees find themselves puzzled when it comes to how their various income sources—such as rental income, pensions, IRA withdrawals, and inheritances—affect their Social Security benefits. If you’re one of the many retirees planning for or living […]
Withdrawing from a 401(k) while delaying Social Security benefits can be a strategic approach depending on individual financial needs, tax implications, and long-term retirement planning. Let’s break down the rules, pros and cons, and provide an example for someone withdrawing $2,000 per month from their 401(k) at age 65 compared […]
When determining the optimal time to claim Social Security, most individuals strive to maximize their retirement income. However, despite the potential for higher benefits, the majority of individuals claim their benefits before turning 70. According to the Social Security Administration (SSA), less than 10% of the roughly 3.4 million people […]
A person can collect Social Security benefits while working, but there are some rules and considerations to be aware of: Earnings Test: n 2025, if you’re younger than your full retirement age (FRA) and earn more than $23,400 annually, your Social Security benefits will be reduced by $1 for every […]
When it comes to Social Security claiming options for couples, there are several strategies to consider that can help maximize your benefits. The best strategy depends on your individual circumstances, including your ages, health, life expectancy, income needs, and other retirement resources. Here are some key options and strategies: Key […]
Here’s a detailed explanation and example of how Social Security survivor benefits are calculated and what factors determine the benefit amount: 1. Key Factors in Survivor Benefit Calculations The deceased’s earnings history: Social Security survivor benefits are based on the earnings record of the deceased. The survivor’s age: The age […]
Retiring at Full Retirement Age (FRA) rather than waiting until 70 can be influenced by several factors beyond financial planning. Here are some key considerations: Health and Well-being Health Status: As people age, health concerns can become more prominent. Retiring at FRA allows individuals to focus on their health and […]