Social Security is a government-run program in the United States that provides a source of income for retirees, as well as for people who are disabled or the survivors of deceased workers. The program is funded through payroll taxes, and it is designed to provide a basic level of financial security for those who are no longer able to work.
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I need to run some different scenarios, as I’ve recently learned about the potential benefits of waiting to collect social security, using various other income streams in the meantime and all the vari...
My wife started taking early Social Security benefits at age 62. She has a part time job. We know there is a 2026 income limitation of $2,040 per month. If her income exceeds that amount in a given mo...
My wife will be 67 yrs old this sept, she want's to file for he SS now but will still continue to work full time she has medical insurance from work does she have to apply for medicare now or when?
claiming Social Security early has a benefit that is rarely discussed. The combined annual benefit for my wife and I is about $45,000. Drawing this amount instead of withdrawing this from our IRA, all...
I'd love some thoughts on my situation. I just turned 69, widowed since 52. Have always worked full time and still do, always for small companies so no retirement plans. Husband passed 15 years ago. I...
What if budgeting wasn't about restriction, but about giving every dollar a purpose? This week, Roger sits down with Jesse Mecham, founder of YNAB (You Need A Budget), to discuss the power of intentio...
"Ute" (SUV), "chips" (French fries), "sunnies" (sunglasses), and "mates" (friends) are just a few of the slang terms I picked up earlier this year when the Keens visited our family in Brisbane, Austra...
Retirement planning is often dominated by withdrawal rules, Monte Carlo probabilities, and portfolio‑centric heuristics. But none of these tools directly measure the core financial question every reti...
Choosing when to claim Social Security can have a lasting impact on your retirement income, but many retirees make this decision without fully understanding how the rules work. In this Q&A episode, Je...
$1,440,000 sounds like the finish line. For a lot of people it's actually where a brand new problem starts, one nobody warns you about before you get there. I've sat across the table from hundreds of ...
It's pretty common for retirees to try to measure how they're doing or how they've done so far in their life's journey. There are many ways to measure success and on this episode we discuss how someti...
How do you know when it's worth optimizing your retirement plan and when it's better to keep things simple? This week, Roger answers a listener question by exploring Aristotle's concept of the "golden...
Income from multiple sources such as pretax accounts and Social Security can result in a tax bill that might surprise you … and not in a good way.
Two groups of lawmakers proposed commissions aimed at addressing the impending insolvency of Social Security. Unless carefully designed, these panels often fail.
I've sat with 100 retirees, and the biggest regret almost never has anything to do with a bad investment. It's something I call the momentum trap. At 62, every single signal tells you to keep going, a...
I’ve got $ in mostly traditional IRAs I’m 63 looking to start SS at 65. I want to use interest to supplement my monthly income at retirement. What is the best place to do that? It would need to be an ...
We are still working - planning to retire very early next year. I'm at FRA; my husband will be in a couple of months. We are not yet taking SS or Medicare. With our income, we will certainly hit the I...
Reducing Social Security benefits doesn't just impact retirees — it hits state economies, creating a double-whammy effect of smaller checks and lower GDPs.
Delaying can increase your benefit, but whether that's worthwhile in the long run depends on other factors.
Benefits could rise in 2027, but Social Security’s worsening finances may eventually mean higher taxes, later retirement or smaller checks.
Elizabeth Warren and Bernie Moreno back a broader Social Security tax base as 2032 benefit cuts loom, including taxes on capital gains, dividends and investment earnings.
Choosing when to file for Social Security isn't about hitting age 62, 67, or 70—it's personal. Here's how to find the best filing age for you and your spouse.
Keen on Retirement listener "Joe" is 51 and his wife is 60. They are thinking about an early retirement before either of them turns 65. Joe wrote in asking about the best strategy for coordinating Soc...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast 590, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for...
The Social Security decision for the higher earner in an age-gap marriage is tricky, as claiming age can determine a widowed spouse's income for years.
Hi, r/retirement. A couple times previously, I've tapped this community to report and write articles for USA TODAY about how Americans experience retirement. (Thank you!) Now, I want to reach out with...
Social Security's trustees estimate the trust fund will run out of money earlier than they estimated last year. But the new projection still could be optimistic.
Trump’s Australia retirement idea should sit on top of Social Security, not replace it. The U.S. needs universal accounts and a funded floor.
I retired 2.5 years ago from a company. Immediately, my income went up. My current income is made up of a pension from a previous government career; income from commercial rental property; and deferre...
I turned 65 in April and was planning to retire at 67, but my mother passed in February and I inherited a fairly large estate, so I have moved my plans up. I had a decent size 401(k) and would’ve been...
David Conti has spent decades writing about retirement, Social Security, Medicare, and personal finance. After helping others prepare for retirement throughout his career—including his time at Fidelit...
I retired last spring at 62. My wife had already stepped back from her job the year before. We had saved, we had a plan, but the number that kept me awake was $1,280. That was the monthly quote for a ...
I'm preparing for RMDs. I normally make a series of charitable contributions, which are at least partially funded by Regular IRA withdrawals. From what I understand, QCDs can be beneficial in the foll...
A perennial question in the financial literature is at what age is the best to begin Social Security benefits. Here's how I decided for me. The post When to Begin Social Security Benefits — How the Ma...
Waiting until 70 to claim Social Security has its benefits, including maximizing your paycheck, but there are also valid reasons why you shouldn't wait.
Understand how projected Social Security funding shortfalls could affect your claiming strategy, potential benefit cuts and the best age to file based on your situation.
As Social Security barrels toward projected cuts, a newly launched federal savings initiative could privatize the program.
If you have a pension and $1 million-plus saved, deciding when to take Social Security is about optimizing your taxes, legacy planning and long-term income.
Wife and I are retired and trying to decide on SS timing. I'm 61, she's 64. Using open social security, it shows that the best strategy is her now (probably passed the window already) and me at 70. Th...
Erin Moriarity shares her take on Social Security timing, building a retirement income floor, and when to stop going DIY and hire a CFP. The post Erin Talks Money: What She Wants Retirees to Know appe...
After working for 27 years for the same organization, I found out in late April that my job was being eliminated as of July 1st (a story for another post) I am 64, divorced with two grown children. My...
Six Essential Tips for Any IRS Letter Before diving into the specifics of the five most common letters, we share six universal tips to ground your response: Don't Panic – IRS notices are routine, and ...
If nothing is done, Social Security benefits will need to be cut by 22% in 2033.
I recently met with a 71-year-old retiree who relies on Social Security for a sizable share of her retirement spending. She’s concerned about recent news that the Social Security retirement trust fund...
An updated model pushes the projected fund depletion back by a few months, but financial experts warn that core concerns remain unchanged.
From sticky inflation to Social Security deadlines, a look back at the 50-year evolution of our personal economies as we celebrate the Semiquincentennial.
This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
Claiming Social Security early might seem counterintuitive for the ultrawealthy, but one advisor says that when the benefits are used to fund life insurance in an irrevocable trust, the strategy could...
am I getting that right? so if you are over the full retirement age - in my case 67 - if I decide for whatever reason to go back to work, I can receive full social security benefits without any penalt...
Florida is the future retirement home. I’ve called Florida home for almost 50 years. I travel extensively for work and met BF six years ago. BF, future husband, lives in AZ. Plan is to sell both our r...