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Savings Bonds for Retirement and College

We are finally finishing up our series on the ways families can save for their most important financial priority (retirement), yet still have some money for future college costs and maybe qualify for need-based financial aid. We’ve already talked about contributing to at-work retirement plans, IRAs, and Roth IRAs, and you should probably use those vehicles before considering any other ways to save. But there’s one more vehicle that will appear to boring, yet has a certain attractive feature for families who start saving early enough. Read More...

Helping Young Adults Save for Retirement

Last week we noted that Millennials (usually thought of as Americans age 18 to 35) were aware of the need to save for retirement, but weren’t optimistic about their odds of eventually becoming financially independent. Read More...

More Reasons to Take Social Security Sooner

Now that the stock market has quieted down a bit and it appears that the world isn’t going to end any time soon, we can return to our series on when one should take Social Security. It’s usually better to wait as long as you can, but a few weeks back we listed several reasons you might want to take it sooner rather than later. Here are a few more for you to ponder.


Taking Social Security Sooner

We’re still debating the merits of taking Social Security now, instead of delaying the benefits. So far we’ve argued that the longer that you wait, the bigger the checks will be. And living off of other sources of income (i.e. your IRA) could lower your overall tax bill in retirement. But those benefits still might not outweigh having a proverbial bird in the hand instead of two in the bush. Here are some reasons that you may want to take your Social Security retirement benefits at an earlier age.


Waiting to take Social Security

In response to questions sent in by readers, we’ve been discussing the strategy of retirees waiting to take Social Security as long as possible, and instead living off of any savings, IRAs, and pension payments.

The benefits are many, but the drawbacks can still be enough to give a person pause.