5 Common Social Security Mistakes To Avoid – Waiting To Tap Nest Egg


In the previous post, 5 Common Social Security Mistakes To Avoid – Ignore Spouse, we realized thousands of dollars for our retirement benefit can be lost by not considering spousal benefit.  Many Americans continue to fail in this area as we are not maximizing the benefit of Social Security.  In this post, a fourth common mistake will be shared, which you can avoid and maximize your Social Security income.  You will find out you can actually save retirement money by tapping into your tax deferred retirement accounts (ROTH IRA or 401K) early. Continue reading

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5 Common Social Security Mistakes To Avoid – Ignore Spouse


In the previous post, 5 Common Social Security Mistakes To Avoid – Earning Test, you learned about how much we can throw away the money by not fully understanding the Earning Test.  Many Americans continue to work beyond age 62 while also start claiming Social Security benefit.  In this post, a third common mistake will be discussed, which you can avoid and maximize your Social Security income.  You’ll soon find out how much important it is to coordinate with your spouse when it comes to Social Security. Continue reading

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5 Common Social Security Mistakes To Avoid – Earning Test

In the previous post, 5 Common Social Security Mistakes To Avoid – Claiming Early, the importance of waiting before taking Social Security claim to maximize your retirement income stream was illustrated.  Many Americans continue to fail in this area as we are jumping too quickly into claiming Social Security checks.  In this post, second common mistake will be shared, which you can use to benefit your situation.  I call it the Earning Test IlliteracyContinue reading

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5 Common Social Security Mistakes To Avoid – Claiming Early


Did you know that Social Security claim has become the biggest retirement asset for most Americans?  Just to give you a sense of magnitude regarding the amount of money an average American can receive from Social Security, an average married couple can receive more than $1 million over their lifetime after starting to collect Social Security as their retirement income.  The money, however, does not come easy as you should expect Social Security is a very complex system and should not be taken lightly.  One wrong mistake in your claiming decision can leave you literally hundreds of thousands of dollars on the table for the government to keep. Continue reading

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Are You Saving Enough For Retirement?


Saving money is such an arduous task for us Americans.  Bottom line is that we all need to save money and send less especially when we are young in our twenties and thirties.  Are you currently saving 12%-15% of your income to your 401k?  Stash away at least 12% annually to your 401k and if you receive company matching, say 4%, then your savings contribution to 401k can be lower than 12%.   Continue reading

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Put Retirement Savings A Priority

If you are currently not thinking about retirement and as a result, not saving for your retirement, then you are not alone.  So many young people who are in their twenties or even thirties are not putting retirement as a priority, which can be very dangerous.  Young people tends to put higher priorities to immediate needs, not to something that is in the future.   Continue reading

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