Catherine Ziegler | Digital vision | Getty Images As inflation kept prices high in 2022, Social Security recipients can expect a record cost-of-living adjustment in 2023. “Your Social Security benefits will increase by 8.7% in 2023 due to an increase in the cost of living,” the Social Security Administration says in the annual statements it …
Ending a marriage can be emotional and challenging at any age, even if both parties agree it’s the right decision. When couples over 50 divorce, they are often faced with the additional task of supporting two separate retirement plans using the assets intended for their combined nest egg. If you find yourself in this situation, …
PERSONAL FINANCES: Saving for retirement in case of divorce later in life Read More »
Financial planners generally advise you to work as long as you can, so you can increase your retirement savings while waiting for a larger Social Security check. But such advice assumes you have the luxury of deciding when to stop working. Tens of millions of Americans do not. Here’s the truth: retiring early, even at …
Can’t afford to retire? Why “working longer” isn’t good retirement advice. Read More »
A new study has found that most Americans should wait until they’re 70 or older before they start claiming Social Security benefits or they could lose thousands of dollars. A National Bureau of Economic Research study (pdf) found that when Social Security recipients claim their benefits too soon, they receive no more than $180,000 in …
Most Americans lose $180,000 in Social Security benefits due to key mistake: study Read More »
