Giant Corporation, which was always going to be there, it always had been, would keep issuing that retirement check to you until the end of your lifetime.
But in 2000 Congress added a provision allowing a worker to file for Social Security at 66, so his spouse could collect, and then "suspend" his own benefits, thereby earning a bigger delayed retirement check for himself and, very likely, his widow.
Growing up I heard of a U.S. Postal worker named Homer Hahus, a WWII veteran and the hardest working member of the Sutter County, California, post office, who passed away within two weeks of retirement having never cashed his first retirement check.
While a bucket strategy may be more time intensive, it may also structure a regular retirement income plan check-up through the redistribution.
Make a call to an advisor and give your retirement account a healthy check-up.
Any increase in home care wage for caregivers means more money flowing out of the Social Security check or retirement savings of seniors.
Be sure to check with a qualified retirement advisor to see which one is best for you.
Note that a wife who hasn't worked outside the home can collect "spousal" benefits, but not until her husband either draws his own Social Security check or reaches full retirement age.
If you wait to collect your retirement benefit after you reach your full retirement age, but before you hit age 70, you have to wait until the next January to see your full delayed retirement credit show up in your monthly check.
To find that magical place, check out the commercials for some retirement financial services.
Instead of increasing the retirement age, could we not reduce the monthly check by 2% or 3% per year?
If, like Carla, you have a workplace retirement plan, such as a 401(k), check to see whether your employer matches the money you contribute.
FORBES: With Retirement Savings, How Do You Compare To Others Your Age?
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