Retirely

Key Points In general, your benefit amount is locked in once you begin claiming. However, you can reverse your decision in some cases to earn a higher payment. The average retiree could potentially increase their monthly payment by over $800 with this strategy. The $23,760 Social Security bonus

Key Points Retiring early can result in a reduced Social Security claim. Most people know that early filing penalties reduce the amount they receive. Your Social Security benefits could also be smaller for another unexpected reason if you claim benefits early. The $23,760 Social Security bonus most

Key Points Retirees risk depleting their savings too soon if they don’t have a plan for withdrawals. You don’t want to run out of money in your senior years, so you need to limit how much you take from your accounts. There are different strategies for determining an appropriate amount of retirement

Key Points Many companies today offer 401(k) plans. Enrollment in 401(k) plans tends to be relatively high when it is automatic, but notably lower when employees have to actively decide. If you aren’t in your company’s 401(k) plan, you could be losing out on free money every single paycheck you

Key Points On Oct. 15, the Social Security Administration will unveil next year’s cost-of-living adjustment (COLA). Initial estimates are calling for a 2.7% raise, but that could change. If you’re worried next year’s COLA won’t be enough, there are steps you can take now to compensate. The $23,760