Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
When it comes to Social Security, workers and retirees need to know as much as they can about how their benefits work so they can understand the amount of resources they will have available, determine how much to save and figure out when to claim benefits.
This week, the White House launched Aging.gov to provide older Americans, their families, friends and other caregivers a one-stop resource for healthy aging, long-term care and retirement planning information along with quick links to the government's Medicare and Social Security websites.
To offer a more comprehensive outlook for your retirement, the Social Security Administration is also now partnering with three digital financial advisory services—Betterment, Financial Engines and HelloWallet—who will integrate the SSA's data file to help consumers more accurately estimate how much they'll receive in their expected Social Security benefit.
That's good news for older Americans afraid they may be leaving money on the table. Financial Engines, which launched its free Social Security planner in June 2014, says it has identified more than $10 billion in additional Social Security benefits for customers in the past year, and the median amount of additional benefits for a typical married couple has been more than $100,000.
Before estimating your Social Security benefits, here are five basic facts that you should know:
What's my full retirement age? It's not 65 for many Americans. The full retirement age is increasing and can go from 65 to 67 depending on when you were born. Go to the retirement age calculator on the SSA's website to find your full retirement age.
It generally takes 10 years of work to qualify for retirement benefits. Your monthly benefit is calculated based on the 35 years in which you earned the most.
Your maximum Social Security benefit depends on the age that you retire. For someone who reaches their full retirement age in 2015, the maximum monthly benefit is $2,663.
You can get your first monthly check when you turn 62, but think carefully before taking your benefits early. Collecting Social Security benefits before your full retirement age can reduce your benefit by as much as 30 percent.
If you are working longer or don't need the money, you may want to wait to collect your monthly benefit. Waiting until you're 70 to collect can increase your Social Security benefit by as much as 8 percent a year.