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• Want a Good Raise? Retire

  By Scott Burns Senior citizens can look forward to a major increase in Social Security benefits next year. Unless there is a sudden rush of deflation in the current quarter, the increase will be the largest in 25 years. Yes, you read that right: the largest... Posted Aug 01 2008, 03:00 PM by admin with | with 4 comment(s) Filed under: Retirement, Social Security

• Steps for Getting a Guaranteed Lifetime Income

  By Scott Burns Q. I am 73 and have investigated buying back the Social Security benefits I took at age 62. The buyback number is $158,529. My current monthly benefit is $1,231. A total buyback would give me a new monthly benefit of $2,019. This is a difference... Posted Jul 16 2008, 03:00 PM by admin with | with no comments Filed under: Q&A (from print), Retirement, Social Security

• Raise Your Living Standard---Reapply for Social Security

  By Scott Burns If you’re retired and are interested in having a higher income for as long as you live, you have two main options. You can buy a life annuity. This will provide you with an income, with or without inflation adjustments, for as long as you... Posted Feb 15 2008, 03:00 PM by admin with | with 13 comment(s) Filed under: Social Security

• Where to Learn More About Your Social Security Benefits

  By Scott Burns Q: I just read your response to a reader concerning the impact of his Social Security benefits on his standard of living in retirement. How does one find out what the benefits will be? Sure, the government sends you a statement each year... Posted Jan 16 2008, 03:00 PM by admin with | with 2 comment(s) Filed under: Q&A (from print), Social Security

• Yes, for many, it’s better to take Social Security benefits later.

  by Scott Burns Most people take Social Security at 62, often because they must. But many have a choice and should give careful thought to delaying benefits. Why? Because it is the fastest and most reliable way to increase retirement income. Yes, even... Posted Oct 31 2007, 02:25 PM by admin with | with 2 comment(s) Filed under: Social Security, Follow On

• The Monster That Ate Social Security

  By Scott Burns If the fate of Social Security were a children’s fairy tale, it would be called “The Monster That Ate Social Security.” According to economist Alicia Munnell, retiree out-of-pocket expenditures to cover premiums, deductibles and co-pays... Posted Oct 12 2007, 03:01 PM by admin with | with 3 comment(s) Filed under: Social Security

• Why We’re All Confused about “Safe” Withdrawal Rates

  By Scott Burns Q. You confused me recently in a column about safe rates of withdrawal. I am 68 years old and 80 percent invested in CDs. My CDs are currently paying between 5 percent and 5.5 percent. If I withdraw only 4 percent or 5 percent from my investments... Posted Oct 10 2007, 03:30 PM by scottb with | with 2 comment(s) Filed under: Q&A (from print), Retirement, Social Security

• Joseph Vineyard, Meet Joe Six Pack

  On this glorious Labor Day Weekend I’d like to say a few words about the futility of work. I’m serious. Take a look around. Today, we’re all 24/7, strutting with Blackberries and Bluetooth, miles from the long-lost desk and office, not to mention home... Posted Aug 31 2007, 03:00 PM by admin with | with 1 comment(s) Filed under: Retirement, Social Security

• There is No Rule of Thumb for Taxes

  Q. I am 67 and retired. My wife will soon retire. We have several healthy IRAs to supplement Social Security income. One concern is guessing how much we can withdraw from our IRAs each year without jumping too many tax brackets. Is there a SIMPLE way... Posted Aug 08 2007, 04:30 PM by scottb with | with no comments Filed under: Social Security

• We’re Better off than We Think

  What if we’re not improvident fools? That possibility is suggested by a recent study. It received virtually no attention, perhaps because it contained no bad news. The study provides some confirmation of what I’ve been hinting at for several years---... Posted Jul 27 2007, 10:30 AM by scottb with | with 1 comment(s) Filed under: Retirement, Social Security

• Who Will Get Your Employer's 401(K) Contributions?

  Today's Rude Opinion Poll: Which description best characterizes our elected representatives in Washington, regardless of party affiliation? They are hapless boobs, constantly passing laws that contradict each other. They are scheming miscreants, relentlessly... Posted May 27 2007, 12:00 AM by scottb with | with 26 comment(s) Filed under: Retirement, Social Security, Taxes & Other Disasters, Government

• The Realities of Retirement Income

  If there is a mythical god in charge of retirement, it would have to be Janus. Best known as the Roman god with two faces--- one looking forward, one back--- Janus was the master of beginnings and endings. You and I see this every month in magazines.... Posted Apr 28 2007, 06:00 PM by scottb with | with 5 comment(s) Filed under: Retirement, Social Security

• The Impact of Future Earnings on Social Security Benefits

  Q: A recent column of yours answered an important question about Social Security. The annual statements regarding retirement payments are in constant dollars. Another question not addressed in those statements is: How does the amount of future earnings... Posted Dec 06 2006, 06:00 PM by scottb with | with 6 comment(s) Filed under: Q&A (from print), Social Security

• Social Security, Taxes and Deferral

  Q: I'm 34 years old and, despite my master's degree in public policy, a little confused by the numbers Social Security sends me in their little green and white "Social Security Statement" mailer. They say that if I retire at age 67, my payment would be... Posted Nov 15 2006, 06:00 PM by scottb with | with 11 comment(s) Filed under: Q&A (from print), Social Security

• A Real Life Case for Delaying Social Security Benefits

  If you're male, healthy and married, you've got an investment opportunity few will discuss with you. Over the next 12 months the "investment" could provide an effective return of 50 percent. Do I have your attention? The opportunity is very simple. You... Posted Sep 30 2006, 07:04 PM by scottb with | with 72 comment(s) Filed under: Social Security