What Was New this Week on HSH?
Ah yes, time for my favorite post of the week: our weekly recap. Why is it my favorite? It means another week has elapsed, and it’s time for the weekend.
Here what was new this week on blog.HSH.com:
Friday:
Have You Considered Paying Back Social Security Benefits?
Last year we wrote about how the recession prompted many Americans to draw upon their Social Security (SS) benefits early. For those of you who are unaware, collecting SS benefits before your full retirement age — “which is based on year of birth” — results in a smaller monthly check than if you waited.
A recent article in the Wall Street Journal notes that a little-known strategy can help you get that bigger SS check, even if you choose to receive benefits “early”:
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Survey: Americans Not Giving Up Their Jobs
These days a good job is worth its weight in gold. So much of the insecurity that’s driving down consumer spending is based off of the uncertainty of the job market.
Last week we reported that the lack of employment opportunities are forcing more Americans than usual to apply for Social Security benefits before age 65. But there’s a flip side of that scenario.
A new poll from Princeton Survey Research Associates International suggests that some Americans are holding onto their jobs as long as they can — even if that means working past the typical retirement age.
More Americans Turning to Social Security At Younger Age
Social Security applications have surged more than expected in 2009 due to the recession. The increase in applications, while relatively typical during economic downturns, could likely put an added strain on the Administration’s already uncertain future, especially with the wave of baby boomers due to collect:
“We are seeing a significant increase in both retirement and disability applications as a result of the recession,” said Mark Lassiter, a Social Security spokesman.
