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Harry Sit
When to Claim Social Security: How Much Does It Matter, Anyway?
Social Security gives everyone an official “Full Retirement Age.” It’s 67 for those born in 1960 or later, but you can claim as early as age 62, as late as age 70, or anywhere in between. The tradeoff is between a lower monthly benefit for more years and a higher monthly benefit for fewer years. The uncertainty lies in how long you’ll live.
Whenever there are choices and uncertainty, people try to
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My Financial Toolbox: The Nuts and Bolts of Managing Your Money
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Explore TIPS: A Practical Guide to Investing in Treasury Inflation-Protected Securities
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* Note: these are all the books on Goodreads for this author. To add more, click here.
“1% or 2% sounds small until you multiply it by the size of your investments. 1% on $500,000 is $5,000 per year, every year. 1% on $1 million is $10,000 per year, every year. As your investments grow with the market, the fees automatically grow. Especially for retirees with large accumulated assets, paying a percentage of investments is very expensive.”
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
“Although both 0.1% and 1% look like small numbers, paying 1% versus 0.1% makes a big difference over one’s lifetime. If you invest $10,000 a year for 40 years, and you pay 1% a year versus 0.1% a year, all else being equal, you’ll have 20% less at the end of 40 years.”
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
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