Retirees were likely quite excited to see news that their Social Security benefits are set to rise in 2018. Gail Buckner, CFP, our personal retirement and financial planning strategist, says of course that’s a welcome development. However, she points out the 2% increase still leaves many Americans far short of what they are likely to need to meet expenses.
If you’re like many working Americans, you may be concerned about the state of Social Security and whether it will be there for you when you retire. Gail Buckner, CFP, our personal retirement and financial planning strategist, explores some myths about Social Security and eases some concerns about its future.
Every year the Trustees of the US Social Security and Medicare trust funds provide their report on the current and projected financial status of these programs.
If you're like most working people, you've probably received a statement in the mail from the Social Security Administration listing your potential future benefits. Trying to figure out how Social Security arrived at those mysterious figures requires some detective work. Here, Gail Buckner, CFP, our personal retirement and financial planning strategist, attempts to crack the code. She discusses how your benefit is calculated and offers some strategies on how to maximize it.
If you are like many busy working people with many responsibilities and stresses, you probably have little time to think about retirement. But as the wise Ben Franklin once said, “If you fail to plan, you are planning to fail.”
If you are approaching retirement, maximizing your potential income is likely on your mind, and it can pay to plan ahead.