Signal Winter 2019 Newsletter

6 www.alliancecom.net What You Need to Know About Social Security You’re eligible to apply for Social Security benefits if you’re 61 years and 8 months old. If you’re there, or getting close, you might want to bookmark the Social Security Retirement Benefits site (ssa.gov/benefits/retirement) . There you’ll find information about how to apply for benefits and related information. Some things to keep in mind: • You may start receiving benefits as early as age 62 or as late as age 70. • The longer you wait, the greater the amount you’ll receive. • Your “full retirement age” (the age at which you may receive full benefits) depends on the year you were born. • Before you reach full retirement age, continuing to work may affect your benefits. • Your spouse and other family members may qualify to receive benefits on your record. Thoroughly review this site and speak with a financial planner before deciding when to apply for benefits. (Note that some banks, investment brokerages, and financial nonprofits provide free or reduced-fee financial planning services for seniors.) Dollars and Sense for Retirees QUOTABLE QUOTE: “Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.” — Mark Twain W hether you’ve been a serious saver all your life, or life circumstances have put you behind in your savings goals, there are ways to make your money last. Check out these sites before and during your retirement years. Social Security Benefits Estimator (ssa.gov/benefits/retirement/ estimator.html) Retirement planning should start with what you expect to receive in Social Security benefits. Use this tool to find out what your monthly payments are expected to be. National Council on Aging ( ncoa.org/economic-security) This section of the National Council on Aging site will help you find training and jobs, access benefits, and better manage your money. New Retirement ( newretirement.com ) For comprehensive financial retirement planning, visit this site to develop a free personalized plan, or, for more features, sign up for an affordable monthly service. Find a Job (USA.gov) (usa.gov/find-a-job) Want to keep working after retirement? Great! Lots of people do it. This site offers a good starting point for your search including job listings, training, and work-at-home options. It includes special sections for vets and those with disabilities. Seniors on Social Security (seniorliving.org/finance/ social-security) If you weren’t able to save—or save enough—for retirement, this SeniorLiving.org resource can help you find ways to live comfortably on a limited income. SmartAsset Retirement Calculator (smartasset.com/retirement/ retirement-calculator) This calculator asks a few easy questions, then shows your expected retirement savings. You can change various factors (such as what age you’ll retire) to see how to save more.