Tensions with Russia, slowing global growth and falling consumer confidence mean the region’s biggest economy struggled to grow in the past 3 months, and may turn out to have shrunk for a 2nd quarter running.
Across the Eurozone as a whole, recently released data showed that economic sentiment dipped in September for a 4th month in a row.
Questions abound about whether this could lead into a vicious circle of falling prices and stagnation.
I’ll continue to watch this closely and make some macro recommendations for my clients as this continues to unfold.
Pimco is a mutual and ETF firm with a huge bond fund that has been the player in that space for the past 40 years. Bill Gross founded the firm in 1971, and it is now around $2 trillion dollars under management.
Last week Bill Gross decided to leave the fund and move to Janus. This is important because of the disruption to the bond market as huge sums could (and I say could) move from one firm to another.
The bond market doesn’t get as much coverage as the stock markets, but this is a pretty big change, equal to the Denver Offensive team picking up and going to Oakland. Heaven forbid.
I don’t know about you, but growing up I loved my Saturday morning cartoons. My favorite was Superfriends (by far), but I loved Scooby-do and other shows too.
Sadly, an era has come to an end. You’ll be glad to know it ended for me 30 or 35 years ago anyway, but for kids today they no longer have a sustained time frame to veg-out in front of the TV. Sadly, they can do that vegging 24/7 with all the options to watch.
The CW was the final broadcast network to program a Saturday morning block, and it aired for the last time this past weekend. 🙁
The earliest you can start receiving your social security is at age 62, full retirement age is 66 (for people born between 1943 and 1954), and the latest you can delay it is until age 70.
At full retirement age 66 you’re entitled to 100% of your amount, but if you take it early at age 62 you receive 75% of that amount. If you wait until age 70 then you get 132% of the full retirement amount.
So, when should you take it?
Let me just say there is no exact right time to take it that is applicable for everyone. For one client’s circumstances it might make sense to take it early, but in another it makes sense to wait.
If you live a long life and you draw upon other sources of income until age 70, then it becomes very attractive to wait. But, we don’t know if you’ll live a long life until after the fact, so there is some supposition around this.
Less than 2% of people wait until age 70, but mathematically that’s the best option (76% more than what you’ll receive if you take it at age 62), and that’s 76% more each year just for waiting 8 more years.
Do not do anything without talking with a financial professional to review your specific case. I run calculations and advise on this all the time, so I’m quite familiar in the various options for clients.
Please contact me if you feel I can help you with your social security planning.
