Income Of The Aged

For many years the Social Security Administration has surveyed the aged population to determine their economic status. The newest edition of this, called the Income of the Aged Chartbook, has just been published online using 2014 data. The publication covers the population aged 65 or older. Social Security benefits were never intended to provide complete…
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Dib or Rib

Disability Or Retirement?

Q: At nearly age 64, I just stopped work because of a severe accident. Is it better to apply for Social Security disability or retirement? A: You can apply for either one or both at the same time. You chose what to do. Social Security disability depends on more than your immediate medical condition.  Based…
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Treasury Dept. MyRA (my Retirement Account)

A popular theme of many retirement articles is that Americans do not save enough. Not everyone has a way of easily saving for the future. Recently developed by the U.S. Dept. of the Treasury, the myRA (my Retirement Account) program is an easy, affordable way to help people start saving for retirement at small amounts.…
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Today Is Check Your Statement Day

Noted in yesterday’s post about my Social Security, today is “Check Your Statement Day.” Checking your Social Security Statement is important for retirement planning but, in my opinion, it is even more important for people many years away from retirement, especially if you have dependent children. Including survivors and disability benefits, Social Security is far…
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Once Started, Benefits Do Not Increase With Age

Q: I started Social Security retirement at age 66 several years age and have received monthly benefits since. Do my benefits increase because I am now older? A: They do not. People can start Social Security retirement at age 62 or any month up to age 70. Full retirement age (FRA), also called normal retirement age, is…
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