socialsecurity

Deciding When to Retire? Consider the Future First

For seniors, delaying retirement can have a big payoff in Social Security benefits. And a new study finds it's easier to decide to wait if you think about the advantages of holding out before you consider the pluses of retiring early.

Your Social Security Benefit: $29.02 a Day

Could you live on less than $30 a day? If you don't have a pension or adequate personal savings, that's what the typical retiree will get in 2036, even setting aside the near-term risks facing Social Security. But don't despair: There are ways to boost your benefits, and ensure that old age doesn't equal penury.

Debt Ceiling: Is U.S. Being Honest About Deadline?

There is emerging evidence that the Treasury Department may have money to pay U.S. obligations beyond the August 2 deadline. While the real date may still be in August, an extra week or two could have a big impact on consumers' wallets, as well as stocks.

How to Retire Rich Without Relying on Social Security

Even if Social Security weren't falling apart -- which it manifestly is -- the average retiree benefits essentially amount to about what you'd earn working full time at a minimum wage job. That's hardly the retirement lifestyle you want. Here's a plan that will allow you to retire comfortably.

Who Shouldn't U.S. Pay If Debt Deal Isn't Reached?

The debt ceiling debate is raging inside the Beltway, but many Americans are tuning it out. And among those paying attention, a majority would ignore the consequences and let the U.S. default. Find out who they'd chose to stiff first -- and tell us who you think the country shouldn't pay if it has to skip out on some of its obligations.

Social Security IRAs: A Partial Fix to Reform Problem?

While Congress and President Obama battle over ways to "fix" Social Security, the small conservative seniors group the Association of Mature American Citizens sees a possible solution to part of the reform brouhaha -- a Social Security IRA. In a recent poll, 80% of the members of the small group that bills itself as "the conservative alternative to AARP," said they support the idea of a Social Security IRA being part of a comprehensive Social Security reform package.

Social Security: Why Seniors Are Just Plain Angry

If Congress fails to raise the debt ceiling soon, come August, the White House warns that tens of millions of Social Security recipients may find their mailboxes empty when they go looking for their checks. Even though some describe it as a "fear tactic," protests by seniors and their advocates are getting much louder.

The Financial Landscape: Is Italy the Next Greece?

As the eurozone sovereign debt crisis continues, focus is shifting to Italy as the next potential victim. But for worries closer to home, consider this: $37 billion in U.S. government benefits designed to help people through the downturn will expire by the end of 2011, leaving a hole twice that size in the economy.

GS Deal Exposed; BofA Deal Nixed

Two surprises in the finance biz: A small group of bond investors has thrown a wrench into Bank of America's massive mortgage securities settlement, while the Fed revealed a secret $15 billion loan it made to Goldman Sachs in 2008. But in retail, there are no bad surprises on same-store sales so far.

Could You Retire on 64% of Your Income?

Take your pretax income -- say it's $60,000 -- and imagine living on less than two-thirds of it: $38,400. Now cut that by more than half to $18,000 a year. Are you ready to retire on that? Without Social Security, that will be the reality for millions of Americans.

Why More and More Seniors Are Shacking Up

Shacking up isn't just for young folks anymore. Plenty of unmarried retirees are spending their golden years together. And while skipping the "I dos" can seem like the easier course, just living together can be complicated at this time of life. But we've got some tips to help you avoid the pitfalls.

How to Take Your Retirement for a Test Drive

It's more than a question of "Do I have enough money?" Practicing retirement is a way to dip your toe into the post-work waters and see if they're too hot, too cold, too "just not you yet," or just right. Are you really ready financially -- and emotionally? Here's how to find out.

Jean Chatzky: Beware, the Cost of Identity Theft Is Soaring

While the number of incidents of identity theft has dropped, the cost to get your identity back is rising. Personal Finance expert Jean Chatzky explains who is after your identity (it could be someone you know) and gives great advice on steps you must take now to protect yourself.

Makeover needed: Social Security

Everyone knows that Social Security is seriously in need of reform. But now that the retirement savings of so many Americans have been decimated by...