Social Security
How Much Could You Have if Social Security Was YOUR Money?
Friday, May 16th, 2008Imagine you were 22 when you started working back in 1978. Do you know how much money you would have if, instead of paying in the maximum Social Security tax over the last 30 years, you were allowed to keep it? It’s probably more than you think. Take a look at the [...]
A Hidden Benefit of Social Security
Wednesday, February 20th, 2008This from an article by Scott Burns I read today:
If you’re retired and are interested in having a higher income for as long as you live, you have two main options:
You can buy a life annuity. This will provide you with an income, with or without inflation adjustments, for as long as you live. But [...]
Social Security Wage Base Now at $102,000
Wednesday, January 9th, 2008It just keeps going up…
Last year (2007), the social security wage base—the amount of income that is subject to social security tax—was $97,500. For 2008 it is $102,000. Dollar-wise, here’s what it looks like:
For 2007: $97,500 × 6.2% = $6,045
For 2008: $102,000 × 6.2% = $6,342
or, it’s 12.4% [...]
Retiring Early? When Should You Start Taking Social Security Benefits?
Thursday, July 5th, 2007I took my kids to the library the other day. While I was waiting on them I took a minute to browse the business/personal finance section. I haven’t been in that section in a while because they never seem to have anything that is younger than 5 years old. I don’t know [...]
Good Article on Social Security
Tuesday, June 26th, 2007I’m busy today but I wanted to share this article that I found in the June issue of Financial Planning with you. It’s titled The Greatest Benefit and it is about how planners can help people understand and plan for Social Security benefits. It’s a very complex issue (much more complex than it [...]