Check this link for 13 slides explaining Social Security. Thanks to Emily Brandon writing for US. News and World Report. https://money.usnews.com/money/retirement/social-security/slideshows/10-social-security-rules-everyone-should-know?slide=1
August 25, 2020
10 Social Security Rules Everyone Should Know
Calculators to help you decide when to claim Social Security retirement benefits
"One of the most important retirement decisions you will make is when to apply for Social Security. Several retirement calculators have been developed to help you determine the optimal retirement age to start Social Security payments." (Thanks to Emily Brandon writing for US News and World Report).
Here are 10 Social Security calculators worth trying:
"These calculators can help you begin thinking about what you can do to maximize the amount you will receive from Social Security in retirement."
Take note! "When out to maximize the benefits that both spouses collect, that's different than maximizing when each person claims their own benefit," says Wei-Yin Hu, vice president of financial research at Financial Engines. "It turns out to be quite important to look at both spouses in a household together, because there are some interesting interactions about when the two should claim benefits in terms of both spousal benefits and survivors benefits playing a role in the picture."
Read the full article for more information about these calculators: https://money.usnews.com/money/retirement/social-security/articles/social-security-calculators-that-can-help-you-decide-when-to-claim
August 11, 2020
Misisng your stimulus check?
Thanks to Michelle Singletary, financial writer for the Washington Post, for this helpful info. Lots of Americans may have thrown out what looked like junk mail but really contained not a stimulus check but a stimulus debit card. The cards were sent in May and June from MetaBank and came in a plain envelope with no governmental IRS or Treasury markings. Just another glitch in these trying times.
So the Treasury is sending out reminder letters with a return address: Economic Impact payment Card, PO Box 247022, Omaha, NE 68124-7022. The letter provides instructions to call customer service: 800-240-8100 to report the card lost or stolen or to get a free replacement card.
Your financial path to college graduation
The Consumer Financial Protection Bureau (CFPB) offers lots of help for college students. https://www.consumerfinance.gov/paying-for-college/
Check out:
"Your financial path to graduation" https://www.consumerfinance.gov/paying-for-college/your-financial-path-to-graduation/?utm_source=newsletter&utm_medium=email&utm_campaign=gradpath&houx=826&fdx=340&clhx=87&trnx=324&hltx=121&entx=94&retx=22&taxx=-6&othx=385
This tool can help you:
- Understand your financial aid offer
- Plan to cover the remaining costs
- Estimate how much you’ll owe and if you can afford that debt
- Compare offers from different schools
- Decide what to do next
Keep coming back as your plan evolves.
For many students,
planning how to pay for school is complicated. It may require multiple
conversations with family, advisers, and the school financial aid office
to get more information. As you figure out your best options, come back
and update your plan as many times as you need!
This tool does not save your personal data. Learn how we got the numbers and guidelines for our calculations.
To start, you will need:
- Your financial aid offer(s)
- An idea of how much money you and your family can put towards school
- A private loan offer (if you have one)
- The phone number or email address of someone in the financial aid office – it’s their job to answer your questions!
You may want to use this tool with someone you trust who can help you weigh your options.
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