A Hidden Social Security Penalty

Nearly three out of four Americans start their Social Security retirement benefits at age 62. What many people don’t realize is that there is a hidden penalty for some retirees who can’t resist early-bird Social Security benefits. Younger Baby Boomers will have to absorb a greater financial hit for claiming benefits at age 62 than older retirees.

Getting More Mileage From Your Retirement Portfolio

It’s only natural for retirees to want to invest conservatively, but hunkering down with a super-safe portfolio of bonds and cash can actually boost their chances of outliving their money. As we explained in our last post, retirees should be able to preserve their nest egg for at least 30 years if they limit their annual withdrawals to 4% of their accounts. If you missed that post, here it is: