Today’s top story: How long you should work to max out your social security benefits. Also in the news: What your student loans are really costing you, 9 common financial myths, and paying close attention to closing costs. Social Security Benefits: How Long Should You Work to Max Them Out? Determining your magic number. Are […]
Recent Blog Posts
Q&A: Social Security and spousal benefits
Dear Liz: I just got laid off and will be collecting unemployment. In January, I will be eligible for Social Security at my full retirement age of 66. Can I collect 50% of my spouse’s benefits (he is 76) instead of collecting on my record and continue to let my Social Security benefits grow until […]
Q&A: What to do with an old IRA?
Dear Liz: I left a job several years ago to become a full-time freelancer. I have a SEP IRA and a SIMPLE IRA from that job that have basically just been sitting there. What are my options in moving this money to a better retirement investment? Answer: SEPs and SIMPLEs are just the tax-advantaged buckets […]
Q&A: What to do with a big tax refund?
Dear Liz: I got a big tax refund this year and am trying to figure out what to do with the money. Right now I have school loans with a 4% interest rate that I do not need to make a payment on until 2024 with my current payment plan, but the amount I owe […]
Social Security statements make a comeback
Until a few years ago, Social Security sent annual statements to just about everybody who was still working to let them know what they could expect to receive in retirement, survivor and disability benefits (minus a 25% or so haircut if Congress never gets its act together to fix the system). Those statements got axed […]
A Social Security “do over” you should consider
For years Social Security had a loophole that allowed people to hit “reset” on their benefits. Those who had made the mistake of starting benefits early had the option of paying back all the money they’d received from Social Security. Then they could restart their checks at a higher rate that they would enjoy for […]