AARP and Knowledge Networks recently conducted an online survey of 2,053 people ages 52 to 70 who plan to claim Social Security within the next 15 years. Only 7% of respondents knew Social Security benefits are calculated based on your 35 highest-paid years of unemployment. Over half of respondents (51%) thought it was five or 10 years. A majority of respondents (89%) knew their payments would be bigger if they waited until their full retirement age of 66 instead of 62 to sign up for benefits. Only 29% knew that waiting those four extra years could increase payments between 30.5% and 41.2%. Less than half of respondents (48%) who are married, or have ever been married, knew that they’re eligible for Social Security spousal benefits.
Also, Fidelity adds to its index fund offerings.
The move follows elimination of online trading fees by Schwab, TD Ameritrade, E-Trade, Fidelity and Ally Financial.
The ETF market has surged in the past five years, but that headline growth obscures some major developments.
Sponsored by LPL Financial
Get an in-depth look at how you can lock in future value through proven tactics that will grow your bottom line.
Sponsored by Smarsh
Many companies today are making the move to Office 365. Find out whether it’s the right move for your firm.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.