How Delaying Retirement Can Help You

Delaying retirement has been one of the most consistent pieces of financial advice for older Americans reeling from the recession. The major financial benefits of deferring retirement are the ability to continue earning money, adding to your retirement assets, deferring drawing down those assets, and delaying the date you begin to receive Social Security benefits.

Situations differ, of course, but here's a rough look at the impact of deferring retirement for five years, from age 65 to 70. Use this finding to see how your own situation would be affected if you were to delay your own retirement.

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Lies That Are Told About Social Security

FROM THE ARTICLE: "Social Security has been a hot topic lately, and, as is usual for controversial issues, the discussion includes a LOT of misinformation. It's argued that Social Security is “broke”, that it is a “pyramid/Ponzi scheme”, that it’s “doomed to fail”, that it's "too expensive", and that people get back more than they have paid in. None of these arguments against Social Security are true. " Get informed by reading the rest of the article HERE.

7 little-known Social Security benefits

In the first season of "Friends," Rachel Green looks at her first paycheck as a waitress and asks, "Who's this FICA guy, and why is he getting all my money?"

That's one hard lesson about Social Security. Another is that when it's time to claim, you can't depend on the Social Security Administration to be your personal adviser.

In an effort to save time and cut costs, Social Security employees generally don't give case-specific advice. So that means you are on your own to make the most important financial decision of a lifetime. You have to read the rules and do the research yourself.

William Meyer, whose website, Social Security Solutions, gives Social Security advice for a fee, says you also can't depend on Social Security to follow instructions you give them electronically. If you have a request that is not the most common choice, you'll need to go to the Social Security office and make the request in person, he says.

Read on to brush up on Social Security benefits that are not commonly known. CLICK HERE.

‘Embarrassingly simple’ hack could leave up to 100 million credit cards exposed

As many as 100 million credit cards in active use today contain a technology that can be tricked into exposing the users’ account to fraudulent transactions, according to a hacker who demonstrated the exploit on stage this past weekend at a conference in Washington, D.C.

Speaking at the Shmoocon hacker conference on Saturday, security researcher Kristin Paget demonstrated a hack that she called “embarassingly simple” in which she “stole” someone’s credit card data, embedded it onto a blank magnetic card, then paid $15 into her own bank account, all without ever even touching or viewing her willing victim’s card.

According to Forbes reporter Andy Greenberg, she used a cheaply available radio frequency identification (RFID) reader to procure the card number, expiration date and CCV code. Inputting that information on a small card magnetizing tool that sells for approximately $300, the card was replicated in an instant then swiped through a cheap iPhone attachment that allows users to accept credit card payments. With that, she charged the card $15, then paid her volunteer $20 in cash for the trouble.

Devices that ping any nearby RFID chips can be purchased for as little as $2 in some cases, and because credit cards have localized security instead of an encrypted response that must be validated through the company’s servers, they can be tricked into giving up their crucial details upon request.

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Where The Republican Presidential Candidates Stand On Social Security

Social Security is a tricky issue in the GOP primary: It's a program of nearly unparalleled popularity, resonates with the seniors most likely to vote, but is also a pure example of government spending and redistribution of wealth, the types of things that have become anathema to a party increasingly tied to its most passionate and extreme wing. How does a Republican who wants to win both the primary and the general election thread the Social Security needle?

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Tips for Baby Boomers Reaching Retirement Age in 2012

In 2012, the oldest baby boomers will turn 66, an important age for Social Security eligibility. At 66, boomers can claim the full amount of Social Security they have earned, and the penalty for working and claiming Social Security benefits at the same time disappears. Here are some retirement planning tips for those turning 66 next year.

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10 Things You Didn't Know About Social Security

Since Franklin Delano Roosevelt signed the Social Security Act on August 14, 1935, few workers have not been impacted by the social program. Almost all Americans pay into the system, and Social Security is the largest source of income for citizens age 65 and older. Yet this huge entitlement has many facets, some of which are not widely known. 

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10 Ways to Boost Your Social Security Checks

The age you first sign up for Social Security can impact the payout you will receive for the rest of your life. Here are some strategies to maximize your monthly benefit. 

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5 Social Security Changes Coming in 2012

Social Security recipients will see bigger payments this year for the first time since 2009. But the future of Social Security taxes for workers remains uncertain. The 2011 payroll tax holiday has been extended only through the end of February and is scheduled to increase in March under current law. Here's a look at the Social Security changes workers and retirees will experience this year.

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