The ages between 62 and 70 matter, regarding Medicare and Social Security, all of these ages are crucial. These demographics are central to the heated argument about stabilizing large entitlement programs’ finances.
Category: Social Security
Poor Health May Force You Into Early Retirement, Before Applying Consider This First
Regrettably, only some people enter retirement in excellent health. When you’re in your early 60s, and you have several health problems, you may believe you won’t live very long, which may motivate you to file for Social Security benefits early.
Learn how Divorce and Social Security can impact your retirement income.
Remarrying and other life changes can add layers of complexity to the process of determining Social Security spousal benefits. Let’s look at a few illustrations.
Achieve Your Retirement Goals: It’s Not Too Late to Start Saving
There are a lot of folks who wish they could stop working sooner rather than later. However, it is common for workers to need to begin contributing to their savings at a relatively young age to make this a reality.
Here Are Your Options For Retirement Income Sources
Retirement is a stage in life that every working individual looks forward to, but it can be scary for unprepared people. Many factors should be considered when planning for retirement, including how you will support yourself financially. Fortunately, many retirement income sources are available to help you plan and save for the future.
SECURE Act 2.0 Helps Younger People Save for Retirement.
The SECURE Act 2.0, passed in December 2022, includes approximately 90 new measures. New federal laws may increase retirement account contributions and reduce eligibility restrictions for younger workers, which is good news for people just starting to save for retirement.
How to Plan for a Cash-Flow-Driven Retirement Income.
You may wonder how to build a reliable retirement income portfolio as the U.S. economy teeters on the edge of recession.
You Might Regret Claiming Social Security at 65
Many believe that if they save enough money for retirement, they can reduce their reliance on Social Security later. On the other hand, you can’t be sure that your nest egg will provide a comfortable retirement.
What to Expect When You Turn 62 and Start Receiving Social Security
When to start collecting Social Security is an important life choice, and it’ll have a lasting impact on your regular paychecks. To begin receiving benefits, you must wait until you reach age 62, but doing so will increase your monthly payouts.
The Pros and Cons of Working While Retired
You would not be alone in entertaining the thought of continuing to work after retirement. The Bureau of Labor Statistics estimates that by the time we reach 2030, the percentage of adults aged 75 and more who are employed will have increased by 96.5 percent.
