socialsecurity
The Social Security program is critical to many Americans’ retirement plans. However, recent announcements from the Social Security government website have indicated that benefits will be reduced by 20% starting in 2034. This news has sparked a wave of concern among soon-to-be retirees, prompting them to question when they should begin receiving their Social Security benefits. As a certified financial planner, I aim to clarify this issue and guide you through the decision-making process. Understanding Social Security benefitsSocial Security benefits are a government-provided safety net for ret...
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An increasing number of older Germans are relying on state benefits to top up their pensions, according to figures from the Federal Statistics Office. The data was shared at the request of the left-wing BSW Group and reported on by German newspaper "Neue Osnabrücker Zeitung". In the first quarter of 2024, a record number of 719,330 pensioners received basic social security support. That's an increase of almost 35,000 since March 2023, and a jump of around 511,915 since 2015. Germany is currently raising its pension age from 65 years to 67, with the upper threshold now applying to anyone born a...
Euronews (English)
TikTok recently unveiled new artificial intelligence (AI)-powered tools designed to assist users with content creation. The new features include a virtual assistant, a video creation tool, and digital avatars, which are all powered by generative AI. In a blog post, the company demonstrated the capabilities of the new AI-powered virtual assistant, called Symphony Assistant. It functions like a chatbot and can be prompted to provide different information such as on TikTok trends or best practices. The virtual assistant is also available in several languages other than English, including German, ...
Euronews (English)
When you think of retirement, what comes to mind? Are you looking forward to a time of freedom, relaxation, and pursuing your passions? Regardless of what springs to mind, some planning must be done before you chillax on the beach. At the very least, this can be about your future income streams, healthcare, and how you’re going to spend your newfound free time. Lucky for you, there’s a wealth of knowledge at your fingertips in the form of books. For retirement planning, here are 15 must-read books: 1. Retirement Planning for Beginners: A Comprehensive Guide to Building Savings, Maximizing Inco...
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ValueWalk
ValueWalk
Social Security is a significant part of retirement planning for many individuals. It provides a steady stream of income that can help cover essential expenses during your golden years. However, one of the most critical decisions you’ll need to make is when to start collecting your Social Security benefits. This decision can significantly impact the total amount of benefits you receive over your lifetime. Choosing when to collectThe Social Security Administration allows individuals to start collecting benefits as early as 62 years old or delay it until they’re 70. The timing of when you choose...
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ValueWalk
ValueWalk
For retirees, disability survivors, and people with disabilities, Social Security is a vital safety net. Nearly 67 million people, or around 1 in 5, receive Social Security benefits. According to a survey by the Senior Citizens League, Social Security benefits have lost 36 percent of their purchasing power since 2000. That number is actually an improvement over 2022 when it was 40%. It still means that today’s dollars are worth considerably less than two decades ago. In other words, for retired workers to regain the same buying power they had at the turn of the millennium, they need an increas...
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