To Get Social Security Benefits Work Until You Reach At Full Retirement Age

If you are going to be retired, you are prepared to take advantage of the benefits your profession has earned you. Social Security includes if you live in America. At first, you need to know how the application scored before you apply for receiving maximum benefits from this government program.

You need to take many decisions before filling out your Social Security application. Whether you are going to apply after completing your retirement age (age 66) or apply at an early age (age 62). If you are married then it is better you must calculate your earnings. When your partners start receiving benefits? All the queries need to be answered in advance.

The first main thing you must know is that your benefits will be based on your top 35 years of earnings. But it is true that most people earn more in the last years of their job, it is really beneficial to continue working if you can add more high earning years to your account. Working more than retirement age with a good salary could considerably increase the amount of Social Security benefits you receive at the time of retirement.

It is better to take retirement after you reach at full retirement age. Work as much as you can. For each year your social security benefit will be adjusted lower if you retire early. If you retire at age 62 then you will get the maximum reduction of 25%. Whereas, waiting until you reach full retirement age will increase monthly benefits by as much as 30%.

If you choose Social Security early then there is a maximum earnings limit you must stick to if you wish to continue receiving benefits. But, once you reach full retirement age you will not get any part of your salary. This is the main reason that why you should work until you reach at full retirement  age  You have to pay Social Security taxes on your salary, but if your earnings increase after retirement your benefits will be recalculated to include your latest contributions.

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Saving for Retirement without Living Like a Pauper or Winning the Lottery

A pot of gold at the end of every worker’s rainbow…this is how some of us see retirement. How about the most of us? Will there be a pot of gold at the end of the rainbow? Truly, talking about the retirement gives me goose bumps.  Will our daughter take care of us when we retire? Our daughter is a very sweet, kind, caring and loving person but her traits are not assurance that she will take care of hubby and me because she is going to have her own family and life. Besides, we don’t want to be her burden. What hubby and I want is to harvest that pot of gold and make the most of our retirement. But how can we do that?

I was browsing the net when a paperback caught my attention because of its title “Saving for Retirement without Living Like a Pauper or Winning the Lottery”.  It is an incredibly simple step-by-step guide to investing money for your retirement written by Gail MarkJArvis, an award-winning personal finance columnist read by millions of people each week.

In this book you will discover…

  • How much you’ll need and how to get there…even if you’ve fallen behind
  • Exactly how to set up IRAs, 401(k)s, or 403(b)s in minutes and pocket your tax money
  • How to harness the money-making power of the stock market
  • How to pick the right mutual funds confidently with simple strategies and specific recommendations
  • Incredibly easy, safe investing strategies based on professional money-management techniques
  • “Gimmick-free” investing shortcuts that won’t backfire on you
  • How to keep debt from making you poor
  • How to get reliable help if you need it…and avoid incompetents or scam artists
  • How the new 2006 pension laws affect you

I can’t wait to read it and learn all the guidelines and strategies that will help us build our retirement savings.

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