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"10 Powerful Self Defense Tips For Women"
In the USA, every two minutes a woman is being raped. A 1993 survey revealed that 50% of Canadian women have experienced an incident of sexual assault or physical violence. In Australia, 19% of women aged 18 to 24 experienced an act of violence...
Only You Can Prevent Money Problems
People experience money problems for a variety of reasons. Maybe you lost your job, used your credit cards too much, have a bunch of medical bills, paid too much for your dream home or any number of other reasons. What ever the reasons for your...
Self Esteem
Self Esteem, how does one find it, low self esteem, how
does one get it?
Esteem: (definition according to Websters Dictionary) to value,
appraise, estimate, to have great regard for; value highly;
favorable opinion, high regard
To have...
Springtime Money Laundering
Summer is right around the corner and most of us have our to-do-lists figured out, mentally, if not written down yet. Bible camp for the kids, plant a large garden, and a trip to the lake. What about financial housekeeping, shouldn't that be on...
Wouldn't It Be Nice if TIME Grew on Trees?
The top two things that people seem to want more of are money and time. As a matter of fact, more money and more time are the top two issues people come to life coaches for (they also happen to be the top two excuses people use for not hiring a...
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Your Social Security
It seems like everyone I talked to has a different opinion on
when they would be eligible for Social Security. Some younger
folks said that they couldn't retire until they were at least
70. A lot of older folks believe that they can't start drawing
their Social Security until they reach 65. They are all
partially right.
I'm not going to get into whether or not Social Security will
survive the next few years. There are too many factors that
could save it or destroy it, and most of them live in
Washington, DC. I am simply going to give you the current
status of your Social Security eligibility.
It is true that there are different full retirement ages
depending on when you were born. However, each person paying
into Social Security can start drawing their partial retirement
at age 62. The chart below indicates at what age you can
retire and receive your full benefits.
Year of Birth
Note: Persons born on January 1 of any year should refer to
the previous year.
Full Retirement Age
1937 or earlier - 65
1938 - 65 and 2 months
1939 - 65 and 4 months
1940 - 65 and 6 months
1941 - 65 and 8 months
1942 - 65 and 10 months
1943--1954 - 66
1955 - 66 and 2 months
1956 - 66 and 4 months
1957
66 and 6 months
1958 - 66 and 8 months
1959 = 66 and 10 months
1960 and later - 67
Visit http://www.ssa.gov/retirechartred.htm to see the complete
chart of Social Security Full Retirement and Reductions by Age
By the chart above someone born in 1955 can start receiving the
full benefits at age 66 years and 2 months. If they choose to
retire between age 62 and 66 years and 2 months this benefit
will be reduced based on the number of months they retire early.
If
they chose to retire after age 66 years and 2 months the
benefit will increase.
Each person has to decide at what age they want to start
receiving their Social Security based on their individual
circumstances. Here is something to consider: Based on my own
situation, if I wait until I am 66 years old to draw my full
Social Security I will be about 72 years old before I draw as
much money as I would have if I had started drawing my partial
Social Security at age 62. It's something to think about.
Besides retirement benefits, Social Security also covers
disability and death benefits. This is a fairly complicated
program but it might not hurt to learn as much as you can by
visiting the Social Security web site. You can also request a
Social Security Statement which includes a record of your
earnings history and an estimate of how much you and your
employer paid in Social Security taxes Estimates of benefits
you (and your family) may be eligible for now and in the
future.
Social Security was never intended to be your only source of
income after you retire. In most cases your monthly check will
only be a fraction of what you were earning before retirement.
It would be wise to start a savings and investment program as
soon as possible to ensure that you have enough money when
retirement rolls around. This link may help get you started:
http://beginnersinvest.about.com/mbody.htm
About the Author
Terry Rigg is the author of Living Within Your Means - The Easy
Way http://www.homemoneyhelp.com/ebookadpage.html and editor
of The FREE Budget Stretcher Newsletter and Budget Stretcher
web site http://www.homemoneyhelp.com. He has 25 years of
experience counseling individuals and families concerning their
personal finances.
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