Tag: time

3 Reasons to File for Social Security on Time
Social Security Disability

3 Reasons to File for Social Security on Time

But we can actually start collecting as early as age 62 and as late as age 70.
Meet your full retirement age Here’s a quick way to see what your FRA is: Birth Year Full Retirement Age 1943 to 1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 or later 67 Your FRA matters, because you can make your benefit checks bigger by starting to collect them after your FRA and can make them smaller by starting to collect early.
Start Collecting at: Full Retirement Age of 66 Full Retirement Age of 67 62 75% 70% 63 80% 75% 64 86.7% 80% 65 93.3% 86.7% 66 100% 93.3% 67 108% 100% 68 116% 108% 69 124% 116% 70 132% 124% Given all that, you might now be convinced that you should wait until age 70 to start collecting, for the bigger checks.
Or maybe you’re aiming to start collecting at age 62, to help you retire early.
The Social Security Administration has explained that, “If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62, full retirement age, age 70 or any age in between.”
Your higher-earning spouse is delaying collecting Another reason to start collecting your benefits on time (if not earlier) is if you’re married and your spouse has collected higher earnings from his or her jobs.
If you’re the one expecting smaller checks, you might start collecting your benefits on time, so that the two of you have some Social Security income arriving until the point at which both of you have checks arriving each month.
There are many other strategies for how best to time your Social Security benefits and for maximizing your benefits.
Because it’s a good compromise Ideally, many or most of us would retire early — starting to collect Social Security at age 62.
You may be able to retire right around your full retirement age and start collecting Social Security on time.

Trump’s new tariffs couldn’t come at a worse time for the auto industry

Trump’s new tariffs couldn’t come at a worse time for the auto industry

Auto sales in the US have already reached an inflection point after seven years of rocketing growth, and rising costs resulting from tariffs, higher interest rates, and any disruptions to global trade could all exacerbate any slowdown in the industry. “If all this was happening in 2015 it wouldn’t be as concerning because the market was growing like crazy” Karl Brauer, publisher of Kelly’s Blue Book said in an interview.
In February, US new vehicle sales declined 2.4% from the previous month.
That’s less than the expected 4% drop, but continues a trend that began in 2017 when sales peaked after a strong run.
The US auto market has grown from 10 million units sold in 2009 to over 17 million in 2016. “There’s a problem with aluminum and steel production in the global economy largely because China has grown from being a very insignificant producer to supporting a huge growth in steel and aluminum production capacity,” Kristin Dziczek, head of the industry, labor and economics group at the non-profit Center for Automotive Research, said in an interview. “Now the US auto industry does not use a lot of Chinese steel, but the effect of that is that it pressures prices downward.”
This is something US auto executives have already warned about.
“Tariffs are not good for anybody,” Steven Armstrong, head of Ford Motor Co.’s European operations, told Bloomberg Television on Tuesday.
Other European carmakers echoed Armstrong’s sentiment in Geneva this week.

UK unemployment rises for first time since Brexit vote

UK unemployment rises for first time since Brexit vote

Britain has registered its first rise in unemployment since the Brexit referendum in 2016.
It took the total to 1.47 million.
At the same time, British companies continue to create new jobs.
There were 823,000 vacancies in the three months to January 2018, 70,000 more than at the same time last year.
Economists have blamed the drop in real wages on Britain’s decision to leave the EU.
Businesses are getting increasingly worried about the confusion surrounding Brexit and the lack of clarity about Britain’s transition out of the EU, its biggest export market.
The worst case scenario, in which the UK drops out of the EU without a new trade deal, could cost the economy tens of thousands of jobs.
The financial sector could lose 75,000 jobs if there’s no deal, according to consulting firm Oliver Wyman.
To add to the uncertainty felt by British consumers, Wednesday’s jobs data showed there were 901,000 people working on so-called “zero-hours contracts,” casual arrangements that allow employers to hire without guaranteeing hours of work.
That’s 20,000 more than in June 2017.

Duckworth: 2018 is past time to get real on paid leave

Duckworth: 2018 is past time to get real on paid leave

She is an Iraq War veteran, Purple Heart recipient and former assistant secretary of the Department of Veterans Affairs under the Obama administration.
Since there are only 22 female senators — and none has ever given birth while they served in the United States Senate — I knew my announcement was going to get some attention.
And I really do appreciate all the good wishes I’ve received from my colleagues, from the media and from people all across the country.
Lack of access to affordable child care and to paid family, medical and parental leave forces people to choose between taking care of their children or a sick family member and losing their job and their health insurance.
That hurts our country.
That’s why, as we mark the 25th anniversary of the Family and Medical Leave Act, known as FMLA, which gave some new parents the opportunity to take up to 12 weeks of unpaid leave, we should pass common-sense legislation to make the workplace more accommodating for working parents.
Sen. Kirsten Gillibrand has a great bill, the FAMILY Act, that would do just that by creating a universal family and medical leave insurance program that would cost employers and employees less than $1.50 per week for a typical worker.
I have previously introduced legislation, the Military Parental Leave Modernization Act, which would ensure every service member, regardless of their gender, can take 12 weeks of paid parental leave if they are a parent of a newborn, adopted or foster child.
These bills are a great place to start and I urge my colleagues in Congress to take them up quickly.
For instance, the law is not comprehensive; many workers across the country are ineligible under the law and don’t qualify to receive unpaid time off, and the FMLA does little to help Americans who cannot afford to take unpaid time off.

Is It Time to Get Out of the Stock Market?

Is It Time to Get Out of the Stock Market?

Here are some headlines I read in the Motley Fool in 2013: “The Stock Market is Overvalued,” “Low to Negative Returns are Ahead” and “Save the Women and Children!
Were stocks really overvalued?
Here is a headline from CNBC in April 2015: “Stocks are Way Overvalued.” If you believed this expert’s very compelling case for stocks being overvalued, you would have certainly wanted to get out of the stock market and stuff all your Benjamins in the mattress.
A 50% Chance of Being Right I can choose any year and find well educated and experienced experts who are convinced the market will go down.
(Actually, since stocks go up in seven or eight years out of 10, your odds are increased just by betting on higher stock prices, but you get the idea).
Imagine that in 2013 you heeded the Fool’s advice and went to cash, but the market continued higher.
Few investors will have the nerve to get back in until things look better.
Build a Portfolio With Losses You Can Stomach in a Downturn We know that over time, stocks provide higher returns than most other investments.
Include stocks for growth and dividends, but use non stock investments such as fixed-income or real estate, which may not fall when stocks do.
The more fixed income you include in a portfolio, the less you are likely lose when the stock market falls, but the less you are likely to earn over time as well.

U.S. Economy Reaches Its Potential Output for First Time in Decade

U.S. Economy Reaches Its Potential Output for First Time in Decade

WASHINGTON – The U.S. economy is running at its full potential for the first time in a decade, a new milestone for an expansion now in its ninth year.
It was the first time actual gross domestic product had exceeded potential GDP since the fourth quarter of 2007, suggesting the nation’s economic resources are being used efficiently.
Wednesday’s report from the Commerce Department showed GDP, a broad measure of the goods and services produced in the U.S., expanded at a 3.3% annual rate in the third quarter, adjusted for inflation and seasonality.
Forecasters at Macroeconomic Advisers on Wednesday projected a 2.5% GDP growth rate for the fourth quarter.
Also, economic output is still well below its potential level based on estimates produced a decade ago by the CBO.
Actual growth has averaged a little more than 2% a year since the recession ended.
It has been rare in recent decades for the U.S. economy to expand beyond its potential level for more than a year or two before running aground on a new recession.
The output gap turned positive in early 2006 and a recession started near the end of 2007.
Output was above its potential for nearly four years at the end of the 1990s, a time of low unemployment and robust productivity growth that helped keep inflation in check.
Every business expansion comes to an end.”