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Most retirees ponder this question: “When should I start taking my Social Security benefits … at age 62? At full retirement age? Somewhere in between?” The conventional response to this question is “Wait as long as you can.” After all, those whose full retirement age is 66 will face a 25% lifetime reduction by starting at 62. They also have the option of an 8% annual boost for every year they delay benefits, up to age 70. In short, the longer you delay, the greater your benefit for the rest of your life. [click to continue…]
A 401(k) is NOT a piggy bank
I want to thank Greg McFarlane , an advertising copywriter who lives in Las Vegas and Lahaina, for today’s guest post. My hunch is that this post will whet your appetite for Greg’s recent book: Control Your Cash: Making Money Make Sense, a financial primer for people in their 20s and 30s who know nothing about money. Buy the book here (physical) or here (Kindle) and reach Greg at Greg at ControlYourCash dot com. [click to continue…]
