Claiming Social Security earlier means more time receiving benefits, but that action will permanently reduce them, which can threaten financial health at older ages.
Thinking about your eventual retirement? If you're relatively well-off, you're probably confident that your tax-deferred savings will provide your major source of income. But if you're at the other end of the income ladder, you're more likely to count on Social Security benefits to tide you over.
It's not only politicians who have mixed reactions to a different way of calculating cost-of-living adjustments to Social Security benefits. Newspaper editorial writers and columnists are conflicted, too.
We're shelling out about $2,000 a year more in Social Security taxes in 2013 (based on $50,000-a-year earnings) now that the tax break expired. But guess what? Most workers say they don't mind paying into the Social Security system, and in fact, they're willing to dig deeper into their pockets to…
In 2011, the number of Americans taking early Social Security benefits dropped to a 35-year low, according to a new report from the Urban Institute. For the second consecutive year, those taking benefits fell (to 27% of the number of eligible older adults). That's down from 31% in 2009, reestablishing a 12-year downward trend interrupted only by the recent recession.
Record numbers of Boomers and older adults took Social Security retirement benefits at the height of the Great Recession, in large part to supplement their faltering income as joblessness rose. But a new report out this month finds that the financial situation of older workers may have turned…
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