KXLY
May 6, 2021 2:37 AM newsfeedback@fool.com (Christy Bieber)
Posted:
Updated:
Claiming Social Security at 65 may sound like a good plan.
After all, when Franklin D. Roosevelt created the benefits program in 1935, 65 was set as the “standard” retirement age. Any retiree who chose it would get their full Social Security benefit.
But it’s not 1935 any more. And today, starting your checks at 65 may
actually not be the best choice. There are a few reasons you could end up rethinking the decision to start your benefits then and instead claiming them later (or earlier) than anticipated.
Image source: Getty Images.
You may not be able to stick it out until 65
WKBT
May 5, 2021 5:15 AM newsfeedback@fool.com (Christy Bieber)
Posted:
Updated:
May 5, 2021 9:33 AM
Thinking of celebrating Cinco De Mayo with a margarita? Depending on where you live, whether or not you make the drink yourself, and how fancy you choose to get, your festive drink could set you back anywhere from a few bucks to over $20.
After a tough year, we could all use a little celebrating so splurging on a few margaritas may well be a great use of your cash. But did you know that you could actually invest in some of the biggest companies in the world for the same price as a fancy mixed drink?
KXLY
May 3, 2021 6:16 AM newsfeedback@fool.com (Christy Bieber)
Posted:
Updated:
May 3, 2021 12:54 PM
Social Security was established way back in 1935 to provide a safety net for seniors. While it has kept millions of retirees out of poverty and still serves as a financial lifeline, the program has undergone some important changes and not all of them are good ones. In fact, here are three changes you may not know about that have had an adverse impact on the value of your benefits.
These are changes you need to be aware of whether you’re a current or a future retiree. By paying attention, you can adjust your budget or ensure you save more to supplement your Social Security checks.
Author Bio
Former college teacher. Textbook contributor. Personal finance writer. Passionate advocate of smart money moves to achieve financial success.
Preparing for retirement is more complicated than ever.
People are living longer, rising inflation is threatening the buying power of retirement savings and Social Security benefits, and there s a looming threat of Social Security cuts on the horizon. Faced with these challenges, you ll likely want a generous nest egg to ensure a comfortable retirement.
For most people, $2 million would qualify. Saving $2 million would provide about $80,000 in retirement income (assuming you follow the 4% rule), but it s going to require diligently investing money to hit that target.
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