Tag Archive: retirement plan

Tips to Adopt A Healthy Lifestyle on Social Security Only!

You receive the benefits from the government in the name of social security on the event of your retirement. These benefits are also for disabled persons in order to provide them with financial solutions. This has been used widely across the US. Some people don’t find it enough income to live a healthy life. However, if you are the one who plans to live on social security only after retirement, you can definitely adopt a healthy lifestyle.

Following tips would help you to live healthily and happily with your social security income only.

Get your mortgage paid off:

Once the mortgage of your house is paid off before your retirement, you can use the amount of social security in other expenses. The expense of a house is the largest one and try to eliminate this from your bill before your retirement. You would have to pay thousands of dollar per month for housing and a married couple receives $2,682 in Social Security. If you exclude the mortgage payment from social security, you can comfortably cover other expenses. Otherwise half of your SS payment will go in the mortgage.

Do not claim social security before your retirement age:

Claiming social security before your retirement age can reduce the payment you receive. Full retirement age is usually 66 for baby boomers. You would get a 25% smaller payment even if you claim your social security at the age of 62. If you are eligible for $1,000/month at age 66, you will get $750/month if you claim it at age 62. This is quite a difference. Going for early payment is wise only if you are sick and going to die and need money. Otherwise, wait till the full age of retirement.

Consider signing up at 70:

It gets vice versa if your delay signing up for social security. If you wait until you are 70, there would be a boost in your social security payment. You can increase your monthly payment by 32%. The amount of $1000 you will be receiving at 66 will be increased to $1320 at 70. You should definitely give it a thought to defer taking the benefit.

Watch out the taxes:

You will also have to pay taxes if your only income is coming from social security. Keep that in mind too.

How to find nearby social security office?

It sometimes gets difficult to find out the location of the nearby social security office. Or, you have moved to a new place you don’t know much about. There are places on the internet where you can get the answer to social security office near me. You can find the largest list of social security office location on social security pledge. They have given a list of links that can take you to the nearby office. You can also get help related to many other things like getting a new social security card, checking the application status and applying for Medicare.

Social security offices are at your service and help you deal with the problems you have. All you have to do is find a nearby office and book an appointment with them. Social security pledge is there for you no matter in which corner of the US you are. It provides web’s largest directory. You would also find answers to various questions related to social security on this web address. This website has all the content you might need such as Medicare benefits, replacement of lost SSN card, retirement saving plans and much more.

5 Secrets to a Happy Retirement

We all dream to have a happy and fulfilling retirement – not to have just the freedom to sit around and do nothing, but more importantly, to have the ability to become the person that we’d like to be and enjoy the things that we really want to do. But of course, we’re all aware that things like those don’t just happen by themselves. We have to do something to get that life we’re dreaming. The following are some tips to help you increase your chances to become happy when you reach your golden age:

Increase your financial stability.

It’s true that one of the things that makes your retirement happy is having money. When you have enough funds, you’re able to do things that you enjoy and buy things that you like. So while you’re not yet reaching your retirement age, find other ways to build your retirement funds and improve your financial status. These can include getting part-time work, building a small business, or investing in stocks.

Happy Retirement

Invest in a retirement plan.

Of course, it is not enough that you just make some extra earnings to get a fulfilling retirement. You also have to make sure that those funds are properly secured so that when you reach your golden age, you’ll have something that you can use. One good way to get financial security is by investing your money in retirement accounts, such as in IRA, 401(k), or SMSF. (For more information about SMSF, visit smsfselfmanagedsuperfund.com.au) Putting your money in retirement plans will not just help you save for your future, but it will also help you earn more benefits to make your retirement even more fulfilling.

Make life plans.

Of course, while money is important, it’s not just something that you have to think about when planning for your retirement. You also have to plan for the non-financial aspect of your retirement living. What do you want to do when you reach your golden age? Where do you want to go or plan to live? What activities do you like to pursue? Do you want to study new language, go fishing, or visit remote places? Make a list. Make a plan. Don’t just sit there and wait until your retirement comes.

Have a positive attitude.

As you get closer to retirement, you’ll face a lot of challenges, which can affect the way you live and feel. These are known as “life transitions”. And perhaps, the greatest challenge is the physical change that you will experience. As you age, your hair and body also start to change. These changes will naturally give you some discomfort, but there’s no need for you to feel worried or sad. Keep in mind that your attitude plays a big role in whether or not you’ll find satisfaction in retirement living. If you feel sad or stressed, seek for professional help.

Remain healthy.

Having a lot of retirement money is worthless if your health is not good, so take good care of yourself. Stay active, eat healthy, and avoid unhealthy habits. When you feel good, you’ll be able to enjoy more of your retirement living.