I think I get more questions about benefits for spouses than I do about any other kind of Social Security benefit. And even though I’m using the gender-neutral term, “spouses,” these questions almost always come from women wondering what benefits they might be due on their husband’s—or ex-husband’s—Social Security record. Or they come from men…
The Good News About Social Security Administration Customer Service
Q: In a recent column, you highlighted some harsh words from a guy who was critical of the government in general and the Social Security Administration in particular. I just wanted to tell you that my recent experience with the SSA filing a claim for retirement benefits could not have gone more smoothly. I used…
How to Avoid Paying Taxes on Annuities
June 24, 2023
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Annuityavoid paying taxesBrightFixed Incomepaying taxespersonal financequalified annuityretirementtaxWealth Management
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Taxes can be a major burden for retirees and people saving for retirement, so choosing the right investment vehicle is essential. However, once you retire, one of the most important things to consider is how you will receive your income. Many people choose to annuitize their retirement savings, which can be a great way to…
You’ll Probably Live Longer Than You Think
June 12, 2023
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BrightbudgetingFixed IncomeFuture Planninglongevitypersonal financeretirementretirement planningSocial Security
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Women often don’t score as well as men in surveys of financial literacy. One area where we seem to do better is “longevity literacy,” or understanding how long we’re likely to live. Longevity literacy is essential to smart retirement planning. Overestimate your longevity, and you could retire too late or scrimp too much. Underestimate it…
My ‘Ivory Tower’ Is in the Basement of a Suburban Split-Level
I got an interesting email (actually, it was more like a rant) from a guy who was upset about an encounter he had with the Social Security Administration. It went on for a couple pages. I’m used to rants. After all, you just can’t please everyone all the time. But here is the part of…
What a Divorced Woman Needs to Know About Social Security
My wife and I are celebrating our 49th wedding anniversary this week. (Although at our age, “celebrating” means maybe an extra scoop of ice cream on our next trip to Dairy Queen!) I know we are fortunate to be reaching almost five decades of wedded bliss because I get a lot of questions from divorced…
All You Need to Know About Living Off Dividends
May 29, 2023
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Preparing for retirement may take more time, money, and effort than you think. It is especially harder to transition this year as inflationary pressures intensify. Although it may benefit savers and lenders, its impact is less desirable than we think. It erodes the value of dollars and, in turn, hurts the purchasing power of consumers….
Social Security for Younger Retirees
Conventional wisdom has it that to get the most out of your Social Security, you should wait as long as possible to start your benefits. That’s good advice for some, but not for all. There are a variety of reasons why you might want to take your benefits at 62 (the earliest you can start…
Your Social Security Payments Outside the US
As I write this, my wife and I are about to leave on a one-month trip to England. This has been one of our “bucket list” plans for a long time now. We’ve been back and forth to Europe about a half dozen-times over the years. But most of those trips were of the “if…
Social Security Benefits Rounded Down
Q: I’ve heard that Social Security is cheating me and millions of other Americans out of Social Security benefits they are due because they round down to the nearest dollar when they are supposed to be rounding up. Is this true? A: Well, it’s true … and it’s false. It’s true when you say that…
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