Retirees lose out on Social Security

Many retirees are claiming their Social Security benefits too early and losing out on their chance to maximize benefits, according to figures compiled by the Social Security Administration. It’s latest statistics covering 2010 show that almost 44 percent of men took their benefits as soon as they were able to at age 62. Another 26 percent took benefits after 62 but […]

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Do not go into retirement without addressing the risks

Retirement can be the most exciting and rewarding time of all, but, like any other stage in life, there are unique financial risks that need to be addressed. Longevity, inflation, health care needs, the death of a spouse, problems with living independently—all can affect a retiree’s quality of life. Changes in laws and social welfare programs can have dramatic effects on a […]

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Is this the last generation to use 401ks?

The 401k retirement savings account offered by employers has become ubiquitous over the last 30 years. But some retirement planning experts predict that 401ks will be overtaken by a new form of retirement savings in the future. The reason is simple: the accounts don’t help lower income employees who lack the ability to save for retirement, and they put each […]

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Global bonds and stocks are the answers for 401k savers

Employees who contribute to their 401k and other retirement plans are missing the boat when it comes to worldwide investment diversification, says OppenheimerFunds. Its recent survey of 1,000 investors found a distinct “home market” bias among employees investing for retirement. It says employees routinely misunderstood the risks and rewards of investing overseas in international stocks and bonds. Many thought the […]

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When should you take Social Security?

A crucial retirement planning decision for many workers involves deciding when to begin Social Security benefits. Anyone can begin collecting as early as age 62, but that means the retiree receives a permanent reduction in benefits that can reach 25% or more. Retirees can also wait until normal retirement age, which currently ranges from 65 and 10 months to 67, […]

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