financial planning
Only 8.7% Wait Until Age 70 for Social Security—Here’s Why It Could Mean Thousands More Every Year
- calendar_month Wednesday, 29 Jul 2026
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Key Takeaways Social Security benefits can be claimed as early as age 62, but each year you delay receiving them increases your monthly payment—up to age 70. In 2024, the average monthly benefit for those who waited until 70 was $3,235, which is $1,900 more than if they had started at 62. Waiting often makes […]
Millions of Future Retirees May Underestimate Health Care Costs by Thousands of Dollars
- calendar_month Tuesday, 28 Jul 2026
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New data on health care costs for seniors might mean it’s time to revisit your retirement plan. According to a recent estimate from Fidelity Investments, health care costs are expected to rise significantly, and these expenses could quickly eat into retirement savings. The 25th annual Retiree Health Care Cost Estimate suggests that a 65-year-old who […]
Claiming Social Security Early? The “Double Whammy” That Could Cost You Thousands
- calendar_month Sunday, 28 Jun 2026
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Understanding the Risks of Claiming Social Security Early As a certified public accountant, you have a unique perspective on financial planning and risk management. Your concern about advising clients to claim Social Security early is valid, especially given the uncertainty surrounding the future of the program. The Old-Age and Survivors Insurance (OASI) trust fund is […]
Retiring in 2026? 3 Money Moves That Will Make or Break Your Retirement
- calendar_month Sunday, 28 Jun 2026
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Key Steps to Take Before Retiring in 2026 As the end of 2026 approaches, it’s time to start thinking seriously about your retirement plans. The decisions you make now can significantly impact your financial future. Here are three essential steps to consider before officially retiring. 1. Develop a Retirement Withdrawal Strategy If you’re retiring with […]
