(BroBible.com)
Tuesday, May 9, 2017
This Was A Topic Of Discussion The Other Day
Here's What You'd Be Paid in Lifetime Social Security Benefits for Each Claiming Age, 62 Through 70
Your claiming decision could have a very large impact on what you're ultimately paid by Social Security.
As you can see, there's some pretty significant crossover that begins around 2034 through 2037. What this implies is that persons who claim early are, somewhere around their 78th to 81st year of age, being passed in lifetime benefits by those who've chosen to wait longer to claim benefits. For instance, an individual who claims Social Security at age 62 has, by age 85, earned approximately $28,200 less than an individual born in 1955 who waited until his or her full retirement age at 66 years and two months.
What this chart suggests
This illustration serves an important purpose for seniors, pre-retirees, and working Americans. It demonstrates the magnitude of your claiming decision.
On one hand, waiting longer will obviously lead to a larger monthly payment. However, that assumes you live to see your 85th birthday, which for all of us is more of a guessing game. When deciding whether you should claim earlier or later, you'll need to take some critical and personal factors into account, including your health, your savings, and whether or not you're taking care of anyone else financially.
Generally speaking, people in poor health, those who are buried under debt, spouses with substantially lower income than their partner, and people who can't get a job or generate income are best off filing for Social Security benefits earlier rather than later. Plus, a "mulligan" of sorts exists (Form SSA-521) that allows seniors to undo their claiming decision within the first 12 months of filing for benefits should they suddenly land a job or regret their early claiming decision.
Conversely, higher-earning spouses, people with little to nothing saved for retirement, and healthier individuals are often best off waiting until their full retirement age or later to claim Social Security.
It's a personal decision for everyone, but this should help make it that much easier.
(Fool.com)
Your claiming decision could have a very large impact on what you're ultimately paid by Social Security.
As you can see, there's some pretty significant crossover that begins around 2034 through 2037. What this implies is that persons who claim early are, somewhere around their 78th to 81st year of age, being passed in lifetime benefits by those who've chosen to wait longer to claim benefits. For instance, an individual who claims Social Security at age 62 has, by age 85, earned approximately $28,200 less than an individual born in 1955 who waited until his or her full retirement age at 66 years and two months.
What this chart suggests
This illustration serves an important purpose for seniors, pre-retirees, and working Americans. It demonstrates the magnitude of your claiming decision.
On one hand, waiting longer will obviously lead to a larger monthly payment. However, that assumes you live to see your 85th birthday, which for all of us is more of a guessing game. When deciding whether you should claim earlier or later, you'll need to take some critical and personal factors into account, including your health, your savings, and whether or not you're taking care of anyone else financially.
Generally speaking, people in poor health, those who are buried under debt, spouses with substantially lower income than their partner, and people who can't get a job or generate income are best off filing for Social Security benefits earlier rather than later. Plus, a "mulligan" of sorts exists (Form SSA-521) that allows seniors to undo their claiming decision within the first 12 months of filing for benefits should they suddenly land a job or regret their early claiming decision.
Conversely, higher-earning spouses, people with little to nothing saved for retirement, and healthier individuals are often best off waiting until their full retirement age or later to claim Social Security.
It's a personal decision for everyone, but this should help make it that much easier.
(Fool.com)
It's About Time This Model Got Eliminated
The BMW 6 Series coupe is dead
On the heels of news that Kia killed the Forte Koup, Road & Track reported the death of another two-door coupe, the BMW 6 Series. We confirmed this with a representative at BMW. He provided an official statement that said production ended back in February, but he didn't provide any information as to why the model was discontinued, or what the future holds for it. He did confirm that the 6 Series convertible and Gran Coupe are still in production, but couldn't comment on whether they may be discontinued in the near future.
(AutoBlog.com)
On the heels of news that Kia killed the Forte Koup, Road & Track reported the death of another two-door coupe, the BMW 6 Series. We confirmed this with a representative at BMW. He provided an official statement that said production ended back in February, but he didn't provide any information as to why the model was discontinued, or what the future holds for it. He did confirm that the 6 Series convertible and Gran Coupe are still in production, but couldn't comment on whether they may be discontinued in the near future.
(AutoBlog.com)
As He-Man Said 'I Have The Power!'
The Daily Man-Up
Strong men choose to see hardship not as a curse, but as a worthy challenge. They choose to control what they can, and understand that what they can’t control is simply fortune working as she does in the lives of all men.
The weak man chooses to see the hardships that come into his life as a curse, as things that happen to him out of some form of celestial spite, and rather than working hard and acting with self-reliance, he pouts and cries and curses the world that has cursed him.
It’s important to understand the power you hold over your life, which is the power to react to whatever happens however you like. I urge you to react as the warrior does, not as the coward tends to.
(CavemanCircus.com)
Strong men choose to see hardship not as a curse, but as a worthy challenge. They choose to control what they can, and understand that what they can’t control is simply fortune working as she does in the lives of all men.
The weak man chooses to see the hardships that come into his life as a curse, as things that happen to him out of some form of celestial spite, and rather than working hard and acting with self-reliance, he pouts and cries and curses the world that has cursed him.
It’s important to understand the power you hold over your life, which is the power to react to whatever happens however you like. I urge you to react as the warrior does, not as the coward tends to.
(CavemanCircus.com)
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