I’ve been thinking a lot about my post on taking social security at 62. You can read the post here. To give you the Reader’s Digest version, I performed some analysis and determined that I’d likely be better off taking a lower social security payment at 62 and investing all of it in a low-cost […]
Grok Discusses The S&P 500 Read More »
There is a ton of information online about when to take social security. While many conclude that it makes better fiscal sense to wait until full-retirement-age (67 for me) or 70, when we can get the largest benefit payment, I decided to take it as soon as possible. ssa.gov The Social Security Administration has lots
I Pulled The Trigger. Social Security At 62. Read More »
I seem to read a bit lately about angry old men (hey wait, that’s me) ranting about social security. “I’ve paid into social security my whole working life. That’s my money and you can’t take it away.” As a retiree, more sympathetic I could not be (het wait, that rhymes). ssa.gov If you haven’t already
That’s My Money! You Can’t Take My Social Security! Read More »
If you are the average American, the answer is simple. Not enough. Why is this? Well, with many Americans living paycheck to paycheck, it’s hard to put money away. This is a common answer, but it’s not the whole story. Many wealthy families are also significantly behind in their retirement saving. So what gives? Are
How Much Have You Saved For Retirement? Read More »
Most of my buddies are in retirement, or are getting close. We spend a lot of time chatting about how to enjoy our retirement, and how we might have planned differently. I thought it would be worthwhile to gather some of that info here. Read on to learn about preparing for retirement. What Do I
I’m Nearing Retirement. What Do I need to Know? Read More »
If you’re anything like me, you want to spend as little time on taxes as possible. There’s nothing worse than seeing a huge chunk of our paycheck each week going to pay Federal, State, Local (maybe), Social Security, and sometimes other taxes. Yuck! But taxes serve a purpose. It’s nice to see the poor folks
Taxes in Retirement Read More »
Two of my lunch buddies have recently gone through the harrowing experience of signing up for Medicare. Medicare is a nice benefit, but there are some important things to know before signing up. We’ll go through some key terms and decision points. Health Insurance Annual health insurance enrollment has always been a stressful time for
Navigating Medicare Read More »
OK. that’s a horrible title, but I felt horrible after reading this article today on CNBC. Here’s a snippet: Just 4% of today’s retirees said they are “living the dream,” according to a new survey from asset management company Schroders. And just as many — 4% — said they are “living the nightmare.” Most of the respondents
Retirement Stinks, but it doesn’t have to Read More »
Should I buy an Annuity? Good question. Annuities are complex financial products. In this post, we’ll try and explain what an annuity is, some of the variations, and why an investor may want to consider one. Insurance An annuity is an insurance product. Much of what we talk about on finance-abcs.com is related to investments
Should I Buy An Annuity? Read More »
Earlier this week, I posted some info on social security planning. This is a follow-up to answer a reader’s question about the impacts of delaying social security benefits until 67, and drawing down his 401k instead to cover living expenses. See original post with comments here. An Important Note About Projections The projections here are
Social Security – Now or Wait? A Follow-Up Read More »