5 Social Security Mistakes to Avoid

For many Americans, Social Security is, or will be, a significant portion of their retirement income. However, a recent Motley Fool article cautions against thinking it’s as simple as claiming your benefits and then receiving a monthly check. Five of the Motley Fool’s retirement contributors offered their thoughts on what would-be Social Security recipients should keep…

 

When to Claim Social Security Benefits Earlier Rather Than Later

Most articles that I read about when to claim Social Security benefits say that it is better to delay as long as possible to maximize your monthly payment. However, a recent Motley Fool article outlines some situations where it may be better to take Social Security earlier rather than later. With the new Social Security laws just passed…

 

Implications of Social Security Strategy Changes

  On CNBC.com, Sharon Epperson discusses Congress’ new budget deal that ends “file and suspend” and “restricted application” options for Social Security. However, retirees have a six-month window before these changes go into effect, and not acting before then could have serious financial ramifications. According to the article, making these decisions before they are “could…

 

Budget Deal Would End Popular Social Security Claiming Strategies

InvestmentNews reported that a budget agreement by congressional leaders and the White House would end popular Social Security claiming strategies. Once it becomes law, it could cut off payments for beneficiaries, according to those familiar with the deal. According to the article, the legislation contains several entitlement reforms. One of them would end the ability…