DON'T LET SOCIAL SECURITY STEER YOU WRONG
Techlife News|September 25, 2021
Few retirement decisions are as critical, or as easy to get wrong, as when and how to take your Social Security benefits.
DON'T LET SOCIAL SECURITY STEER YOU WRONG

The rules can be so convoluted that many people rely on what they’re told by Social Security employees, but that could prove to be an expensive mistake.

Certified financial planner Kate Gregory of Huntington Beach, California, uses sophisticated Social Security claiming software to recommend strategies that maximize clients’ lifetime benefits. Gregory advised one of her clients, a widow, to apply for her own small retirement benefit first so that her survivor benefit could grow, then switch to the larger benefit later. When the woman contacted Social Security, however, she was told she could get the survivor benefit only.

“That left her really flustered,” Gregory says.

The widow eventually was able to get the benefits she’s entitled to in the correct order, but Gregory and other financial planners worry about people who don’t get professional advice and who could be led astray.

“Most people are going to say, ‘Well, that’s what the government told me’ and let it drop. And that’s unfortunate,” says CFP Mary Beth Franklin, author of “Maximizing Social Security Retirement Benefits” and a contributing editor for Investment News.

THE COST OF MISTAKES

A lot of money is potentially at stake. The difference between the best-claiming strategies and the worst could add up to $100,000 over the lifetime of a single person and $250,000 for married couples, says William Meyer, CEO of Social Security Solutions, a claiming strategies website.

Esta historia es de la edición September 25, 2021 de Techlife News.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición September 25, 2021 de Techlife News.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE TECHLIFE NEWSVer todo
SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS
Techlife News

SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS

South Korea’s privacy watchdog this week fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers.

time-read
2 minutos  |
November 09, 2024
CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS
Techlife News

CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS

Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said.

time-read
2 minutos  |
November 09, 2024
CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS
Techlife News

CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS

Corning is facing European Union antitrust scrutiny after the bloc’s watchdog said this week it’s investigating the speciality glass maker’s exclusive deals for its Gorilla Glass used in cellphones.

time-read
1 min  |
November 09, 2024
NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
Techlife News

NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT

CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.

time-read
2 minutos  |
November 09, 2024
NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE
Techlife News

NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE

Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.

time-read
1 min  |
November 09, 2024
AS THE DATA CENTER INDUSTRY BOOMS, AN ENGLISH VILLAGE BECOMES A BATTLEGROUND
Techlife News

AS THE DATA CENTER INDUSTRY BOOMS, AN ENGLISH VILLAGE BECOMES A BATTLEGROUND

Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history.

time-read
4 minutos  |
November 09, 2024
THE BEST SMALL SUVS FOR CITY DRIVING
Techlife News

THE BEST SMALL SUVS FOR CITY DRIVING

SUVs are popular in part due to their elevated ride height, commanding view of the road, and roomy interiors.

time-read
3 minutos  |
November 09, 2024
GOOGLE MAPS ADDS AI FEATURES TO HELP USERS EXPLORE AND NAVIGATE THE WORLD AROUND THEM
Techlife News

GOOGLE MAPS ADDS AI FEATURES TO HELP USERS EXPLORE AND NAVIGATE THE WORLD AROUND THEM

Google Maps is heading down a new road steered by artificial intelligence.

time-read
2 minutos  |
November 09, 2024
TESLA SHARES SOAR 14% AS TRUMP WIN SETS STAGE FOR ELON MUSK'S ELECTRIC VEHICLE COMPANY
Techlife News

TESLA SHARES SOAR 14% AS TRUMP WIN SETS STAGE FOR ELON MUSK'S ELECTRIC VEHICLE COMPANY

Shares of Tesla soared following an election that will send Donald Trump back to the White House, an outcome that has been strongly backed by CEO Elon Musk in the closing months of the race.

time-read
1 min  |
November 09, 2024
APPLE BREAKS OUT OF RECENT SALES SLUMP AS IT GEARS UP TO MAKE ITS LEAP INTO THE AI CRAZE
Techlife News

APPLE BREAKS OUT OF RECENT SALES SLUMP AS IT GEARS UP TO MAKE ITS LEAP INTO THE AI CRAZE

Apple snapped out of a recent iPhone sales slump during its summer quarter, an early sign that its recent efforts to revive demand for its marquee product with an infusion of artificial intelligence are paying off.

time-read
2 minutos  |
November 09, 2024