Women Are Flunking Retirement Planning

  • In this week's issue we share an article that may surprise or infuriate you. It's called Women Are Flunking Retirement Planning - What a quiz showed about preparations for retirement. If it makes you mad, please don't shoot the messenger. We're only reporting the results! And we're doing our best to help EVERYONE do a better job of managing their resources.

     

    One of the most important questions that both women and men face in retirement planning is when to begin collecting their Social Security benefits. Most of us have been paying SS taxes for 40+ years and how we answer that question can make a big difference in our lifestyle. It could change your income by 50%.

     

    This week I read an article on USA Today How the SS Benefit Formula Works. Here's a quote from the article:
    "Social Security is the largest retirement program in the United States, but far too many people don't understand how their retirement benefit is determined. Knowing how Social Security benefits are calculated can help you make smart decisions when it comes to claiming your own benefit, and can help you estimate your eventual retirement income for planning purposes."

     

    They proceed to explain all the ins and outs of the formula. The article is a great tool to help you understand how much you can collect. But, it's not a simple math problem. There are a number of things that make the formula complicated.

     

    Please give it a try. But if you find it a bit much for your math skills, you'll want to check out a tool explained in Could You Be Leaving $100k+ in Social Security Benefits Unclaimed? For $29.95 and the answers to a few simple questions the tool will do all the math for you.

     

    I know that we encourage you to spend your money wisely. And I trust that you do. So it's not out of place to suggest that you spend less than the price of dinner for 2 to get information that could change your retirement income by thousands and thousands of dollars.

     

    And, yes, we do get a small amount of that price if you use the tool. That's how we make all this free information available to you. But that's not why we're promoting it. I hate to see people make one of the most important decisions that will affect the rest of their lives without getting proper information. I personally know too many people who are suffering because they decided on a whim when to begin collecting SS. And now they're faced with a super tight budget because of that decision.

     

    Keep on Stretching those retirement Dollars!
    Gary


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