Get largest Social Security Dollars
31/07/08 11:45 Filed in: Biggest Social Security Benefits
Find Your (SOCIAL SECURITY) Break-Even Age
Many factors enter into finding the right start-date to maximize your total lifetime benefit. They include whether you plan to earn income from work after age 62, your health status and family medical history, and the amount and type of retirement resources you and your spouse will have to live on in addition to Social Security.
The difference in the amount of benefits you actually receive over the years derives from some basic Social Security rules. First, you may start collecting payments at age 62, but for the rest of your life the only benefit increase you'll receive is the cost-of-living–adjustment (COLA). Second, the longer you wait to start your benefit, the higher your monthly take will be—up until age 70. That's because each year you get an additional benefit bump up. Between your full retirement age (between 65 and 67, depending on the year you were born, which you can check here and age 70, the extra money amounts to about 8% a year. Finally, if you wait until age 70, there's no incentive to delay the benefit. The only future increases you get will be from the COLA, which applies to all Social Security benefits.
This may sound terribly complicated to figure out. But there is one simple exercise you can do to move you closer to an answer: Use the Social Security Web site calculator to come up with your "break-even age." That's the age when, if you start taking your benefit, you are likely to end up receiving the greatest amount of money from Social Security over your lifetime.
Many factors enter into finding the right start-date to maximize your total lifetime benefit. They include whether you plan to earn income from work after age 62, your health status and family medical history, and the amount and type of retirement resources you and your spouse will have to live on in addition to Social Security.
The difference in the amount of benefits you actually receive over the years derives from some basic Social Security rules. First, you may start collecting payments at age 62, but for the rest of your life the only benefit increase you'll receive is the cost-of-living–adjustment (COLA). Second, the longer you wait to start your benefit, the higher your monthly take will be—up until age 70. That's because each year you get an additional benefit bump up. Between your full retirement age (between 65 and 67, depending on the year you were born, which you can check here and age 70, the extra money amounts to about 8% a year. Finally, if you wait until age 70, there's no incentive to delay the benefit. The only future increases you get will be from the COLA, which applies to all Social Security benefits.
This may sound terribly complicated to figure out. But there is one simple exercise you can do to move you closer to an answer: Use the Social Security Web site calculator to come up with your "break-even age." That's the age when, if you start taking your benefit, you are likely to end up receiving the greatest amount of money from Social Security over your lifetime.
Do Seniors like being defrauded?
30/07/08 14:37 Filed in: Internet fraud
The security experts at cNet tell us that according to Consumer Reports a fraud alert placed on your credit history requires an issuing entity to contact you first before opening a new account. Fraud alerts need to be renewed every 90 days unless you are a documented victim of identity fraud, in which case you are entitled to additional protection for up to seven years.
Watch out: the financial institution does not have to make a reasonable attempt to contact you, so the fraudulent account may still get opened. Even with a credit freeze, some financial intuitions won't contact you. There's no way to prove or disprove an institution called you, said ITRC's Foley.
Why not place a credit freeze on your credit history.
Experian, Trans Union, and Equifax are the leading credit bureaus. By law they each provide a complementary credit report from all three reporting agencies, continuous monitoring of credit activity and any online use of your personal information, and some insurance against identity fraud abuse. The plans range from $11 to $14 per month, with annual and family plans available for less. They do not, however, place alerts or a freeze on your credit history.
The Achilles' heel in all of these plans is that the financial institution does not have to make a reasonable attempt to contact you, so the fraudulent account may still get opened. Even with a credit freeze, some financial intuitions won't contact you. There's no way to prove or disprove an institution called you.
Until now.
A company called DEBIX WILL PROTECT YOU FOR $24 PER YEAR. 30,000 Debix-secured transactions during a two-month period at the end of 2007. Of those, 380 were identified as fraud and were stopped immediately. Overall, the rate of new account fraud among Debix customers was zero percent. If a bank, or other institution failed to alert you, by calling you, Debix maintains a record and can prove the institution in question did not attempt to call the customer.
And it gets better.
One adult can sign up for $24 a year; families with up to three adults and four children can sign up for $72; and families with up to five adults and four children can sign up for $144 a year. That's much less than similar plans being offered by Experian, Trans Union, Equifax, TrustedID, and LifeLock.
So get fraud safe for $24 per year, get DEBIX and secure your ID protection for minimal cost.
Watch out: the financial institution does not have to make a reasonable attempt to contact you, so the fraudulent account may still get opened. Even with a credit freeze, some financial intuitions won't contact you. There's no way to prove or disprove an institution called you, said ITRC's Foley.
Why not place a credit freeze on your credit history.
Experian, Trans Union, and Equifax are the leading credit bureaus. By law they each provide a complementary credit report from all three reporting agencies, continuous monitoring of credit activity and any online use of your personal information, and some insurance against identity fraud abuse. The plans range from $11 to $14 per month, with annual and family plans available for less. They do not, however, place alerts or a freeze on your credit history.
The Achilles' heel in all of these plans is that the financial institution does not have to make a reasonable attempt to contact you, so the fraudulent account may still get opened. Even with a credit freeze, some financial intuitions won't contact you. There's no way to prove or disprove an institution called you.
Until now.
A company called DEBIX WILL PROTECT YOU FOR $24 PER YEAR. 30,000 Debix-secured transactions during a two-month period at the end of 2007. Of those, 380 were identified as fraud and were stopped immediately. Overall, the rate of new account fraud among Debix customers was zero percent. If a bank, or other institution failed to alert you, by calling you, Debix maintains a record and can prove the institution in question did not attempt to call the customer.
And it gets better.
One adult can sign up for $24 a year; families with up to three adults and four children can sign up for $72; and families with up to five adults and four children can sign up for $144 a year. That's much less than similar plans being offered by Experian, Trans Union, Equifax, TrustedID, and LifeLock.
So get fraud safe for $24 per year, get DEBIX and secure your ID protection for minimal cost.
Energy saving dollars
26/02/08 15:30 Filed in: Energy saving dollars
Kiplinger's has a list of 15 quick, cheap and easy ways to cut your electricity, heat and water use while also cutting your expenses by hundreds of dollars.
Compact fluorescent bulbs
Appliances that include a clock or operate by a remote, as well as chargers
Is your coffee mug more insulated than your water heater?
SERVICE THE FURNACE
An Energy Star programmable thermostat ($70 at www.livingincomfort.com)
Use cold water to wash your clothes and save 50% of the energy
Set your water heater at 120 degrees Fahrenheit.
Install occupancy sensors or timers on lights in areas you use only occasionally
Install a low-flow shower head
check it all out:
http://www.kiplinger.com/printstory.php?pid=13391
Compact fluorescent bulbs
Appliances that include a clock or operate by a remote, as well as chargers
Is your coffee mug more insulated than your water heater?
SERVICE THE FURNACE
An Energy Star programmable thermostat ($70 at www.livingincomfort.com)
Use cold water to wash your clothes and save 50% of the energy
Set your water heater at 120 degrees Fahrenheit.
Install occupancy sensors or timers on lights in areas you use only occasionally
Install a low-flow shower head
check it all out:
http://www.kiplinger.com/printstory.php?pid=13391