Planning When to Jump: Tools for Estimating Social Security Retirement Benefits

Posted on Apr 1, 2016 in Featured, Peoples Bank News |

Retirement planning is often mind-numbingly complex. Financial planners and advisors can reduce some of that load, but still, many decisions and financial considerations are required for one or more scenarios. It’s a headache that far too many people put off – to their peril. However, one simple thing that anybody can do is get a reasonable idea of what their estimated retirement benefit will be, depending on when they retire. Every 5...

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Five Questions and Answers about New Social Security Claiming Rules

Posted on Feb 4, 2016 in Featured, Investing, Peoples Progress e-Newsletter |

When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might affect you. What’s changing? The provision of the budget bill called “Closure of...

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Social Security Claiming Strategies for Married Couples

Posted on Apr 30, 2015 in Investing, Peoples Progress e-Newsletter |

Deciding when to begin receiving Social Security benefits is a major financial issue for anyone approaching retirement because the age at which you apply for benefits will affect the amount you’ll receive. If you’re married, this decision can be especially complicated because you and your spouse will need to plan together, taking into account the Social Security benefits you may each be entitled to. For example, married couples may...

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Myths and Facts About Social Security

Posted on May 1, 2014 in Investing, Peoples Progress e-Newsletter |

Myth: Social Security will provide most of the income you need in retirement. Fact: It’s likely that Social Security will provide a smaller portion of retirement income than you expect. There’s no doubt about it—Social Security is an important source of retirement income for most Americans. According to the Social Security Administration, more than nine out of ten individuals age 65 and older receive Social Security benefits. But it...

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