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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 live. But it will leave nothing for your heirs...

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Article
16
Jan 08

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. But is there another source? For instance, how...

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Article
31
Oct 07

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 if delaying benefits means spending down some of your...

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Article
12
Oct 07

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 for parts B and D of Medicare will gobble up 29 percent...

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Article
10
Oct 07

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, I will have more money when I die than...

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Article
31
Aug 07

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. At the risk of being rude, I’m wondering if all...

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Article
08
Aug 07

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 to estimate how much we can withdraw each year without...

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Article
27
Jul 07

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--- collectively, we’re not financial jerks. People will...

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Forum
15
Jul 07

Re: Social Security Government Pension Offset and Windfall Elimination Provision

@gak Let me see if I can give you a quick answer. I'm assuming that your wife's employment as a teacher is not covered by Social Security because she did not have SS taxes with held. I'm also assuming that your wife will have 40 quarters of credit based on non-teaching earnings on which Social Security...

Posted to Social Security (Forum)

Article
26
May 07

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 seeking new ways to increase taxes and spend...

Posted to Registered Investment Advisor (Weblog)

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All Categories » Social Security

Raise Your Living Standard---Reapply for Social Security

Where to Learn More About Your Social Security Benefits

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

The Monster That Ate Social Security

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

Joseph Vineyard, Meet Joe Six Pack

There is No Rule of Thumb for Taxes

We’re Better off than We Think

Re: Social Security Government Pension Offset and Windfall Elimination Provision

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