Here’s a question for you. How accurate is the “estimate” of your future Social Security retirement income that is shown on your annual SSA statement? The estimate of your future Social Security retirement income on your annual SS statement takes into account your earnings history so far and extrapolates it out assuming moderate wage growth. The most accurate estimate would be for a person who turns full retirement age in 2015. Their primary insurance amount (PIA) was actually calculated back … Continue reading
How accurate is your estimated Social Security retirement statement?
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Should single folks delay SS benefits?
How would Americans who are not married, benefit from suspending their monthly retirement benefits after filing for Social Security at their Full Retirement Age (FRA)? The biggest reason why a single person might want to do this is to benefit from the 8% annual delayed retirement credits until they reach age 70. This will give them up to a 32% boost in lifetime SS income. Plus when COLA’s (cost of living adjustments) are applied, the actual monthly income grows faster on a larger check than it does a smaller one. … Continue reading
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The 2 Doors to Retirement
There are only 2 doors to go through at retirement. Find out what they both are in my latest 60 second video. CLICK Below to watch it: http://youtu.be/UbKCfosugGY all the best… Mark
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An interesting stock market chart
Here is a chart that I found (SEE BELOW) that I found pretty interesting. It shows the S&P 500 returns over the last 35 years. 27 of those 35 years were positive. But the average intra-year drop in value was -14.2%. In other words, even though most years have gains, the average loss within those years was in double-digits. Of course, some years had bigger drops and some had smaller drops within the calendar year. But to me, the most interesting thing that the chart … Continue reading
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Is a 529 Plan the best college savings option?
The 529 Plan has long been one of the most popular vehicles to save for your children’s (or grandchildren’s) education. For many families, it is clearly the best choice – especially for those funding it with less than a few hundred dollars a month. However, there are many little-known disadvantages of a 529 plan and these are the reasons many of my clients use a smart alternative. 529 College Savings Plans have: 1) Financial Aid: A 529 plan counts as an important asset in determining the level of … Continue reading
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