You probably know that waiting to claim your Social Security benefits until your Full Retirement Age (FRA) can result in permanently higher Social Security benefits. For people born between 1943 and 1954, Full Retirement Age is age 66 but that’s slowly climbing higher for younger workers. For example, Full Retirement Age for someone born in […]
Tag Archives | Social Security
Social Security To Get 1.3 Percent Boost In 2021
Social Security benefits for approximately 70 million Americans will get a 1.3 percent Cost of Living increase in 2021, the Social Security Administration announced last week. How much does that amount to? About $20 per month for the typical single, according to Social Security. That’s enough to buy lunch for you and a friend at a fast […]
Social Security Switches To Online Services Only Due To Coronavirus
Got Social Security questions? Be prepared to spend some time online or on the phone. Social Security is cancelling in-person meetings and closing local offices until further notice to protect employees and customers from COVID-19. You can read more details in tax expert Kelly Phillips Erb’s column in Forbes. Online services are always the best option. […]
You’re Invited October 23 – Maximizing Your Social Security Income
If you’re between the ages of 55 and 70, please consider joining us on October 23 for a special educational workshop on maximizing your Social Security benefits. Space is limited, so call early to reserve a seat. Most people count on Social Security for a significant portion of their retirement income, so learn how to […]
Why Retirees Are Losing Trillions Of Dollars With Bad Social Security Advice … But Not Our Clients
We’re sorry to hear that American retirees are losing $3.4 trillion in potential retirement income by making bad decisions about when to start their Social Security benefits. Not our clients. As part of our retirement services, we help clients explore different options and optimize claiming strategies so they get the most bang for their buck. In […]
Claim Your Social Security Account Before Hackers Do It For You
Imagine that you’re finally ready to claim your retirement benefits and contact the Social Security Administration, only to find out that someone has been claiming your hard-earned benefits for years, and directing those monthly checks to a bank you’ve never heard of. It can happen. Social Security is asking more American workers to request benefits […]
Maxxing Out Your Social Security Benefits
You’ve probably heard us mention that, for most people, Social Security benefits are a very important part of your retirement income. Most people underestimate what those monthly guaranteed payments are actually worth. One recent estimate put the lifetime value of his-and-her benefits, where both members of a couple receive Social Security benefits, at over $900,000. […]
St. Patrick’s Tip: One Way For Women To Turbo-Charge Their Retirement Income
Last week, I did a talk for a Fort Lauderdale women’s group about how women can control their money rather than letting it control them. I included a totally amazing tip to help women boost their retirement income (so amazing I had to triple-check the numbers myself!). It almost seems too good to be true, […]
Social Security Recipients To Get Bigger Inflation Hike In 2019
A 2.8% inflation adjustment might not seem like a lot, but compared to previous years, it’s an epic leap. If you receive Social Security benefits, that 2.8% increase is the Cost of Living Adjustment (COLA) you’re likely to get in 2019. If that seems skimpy, just realize it would be the biggest inflation hike since […]
Behind The Curve On Saving For Retirement? Here’s A Simple Fix
Many people don’t start saving for retirement until they hit their 40s and 50s. That can make it tough to get back on track. So here’s a simple fix. If it’s hard for you to get more money into your retirement accounts, consider pushing back your retirement date instead. Recent research detailed in today’s Wall Street […]
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About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
