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Three Rules to Higher Social Security Benefits

By Laurence Kotlikoff, Forbes.com Social Security benefit provisions are so devilishly complex that I’ve come to believe that Satan, himself, had a hand in their construction.  The ‘simple’ formula for determining the total benefits received by a married spouse involves 10 distinct mathematical functions, one of which is in four dimensions.  And there are additional […]

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3 Social Security Shockers from the CBO’s Latest Report

By Chuck Saletta, The Motley Fool On Tuesday, The Congressional Budget Office updated its annual projections on the health of Social Security and its Trust Funds. In essence, if you’re still working and you’re depending on that program to cover your retirement — you’ll be in for a shock. Or three. Shocker No. 1: It’s […]

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“Chaining” Inflation Gauge Would Hurt Social Security Recipients

By Steve Vernon, CBS MoneyWatch News Analysis (MoneyWatch) Among the policies lawmakers are considering as part of the “fiscal cliff” talks in Washington is to change how the government measures inflation in Social Security payments. President Barack Obama has proposed adopting what is known as a “chained” Consumer Price Index, or CPI, as part of […]

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When Should You Take Social Security?

By Allan Roth, CBS MoneyWatch (MoneyWatch) The foremost question for Americans approaching retirement age is when to start collecting Social Security. It’s a complex topic, and personal finance expert Mike Piper does an excellent job of clarifying the decisions in his short book, Social Security Made Simple. Here are three key points to keep in […]

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Elder Couple with Bills

The States Least Prepared for Retirement

By Samuel Weigley and Alexander E.M. Hess, 24/7 Wall St. 10. Colorado 401(k) balance to annual income: 42.6% Median balance: $23,583 (23rd lowest) 401(k) growth 2008-2011: 29.4% (18th highest) Debt to income: 744% (13th highest) Average total debt: $221,648 (10th highest) Despite a median household income of $55,387, almost $5,000 above the national median income, […]

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