Repay and Restart for a Bigger Social Security Check

If you are already receiving Social Security retirement benefits, you may be running out of time to boost your future benefits by using the repay and re-apply strategy. This unusual technique allows existing retirees to pay back the total Social Security benefits received (without interest) and then re-apply based on your current age. Read more

Calculating a Retirement Income Replacement Ratio

If you are like many not-yet-retired baby boomers, you want to know what percentage of your pre-retirement income you will need when you are retired. Some financial writers call this the “retirement income replacement ratio.” My advice? Do not use a percentage or ratio for this calculation. Let me explain. Read more

Consumption Smoothing – Spend ’til the End

I have read (and continue to read) many books on retirement planning. Most of them have been on the money and financial aspects of retirement. Lately, I have taken more interest in the mental and emotional parts of retirement. I am reading a book now that addresses those specific issues. I will be reviewing that book here soon.

So far, my favorite book on financial planning for retirement is Spend ’til the End by Laurence Kotlikoff and Scott Burns. This book focuses on the application of consumption smoothing to a lifetime of spending, saving, and investing, all leading to retirement. Read more

How I Review My Annual Social Security Statement

I receive my annual Social Security Statement like clockwork each fall.  The contents of the statement, particularly the estimate of my retirement benefits, were of particular interest this time because of the dramatic economic and stock market events of 2008. Read more