The daily Astorian. (Astoria, Or.) 1961-current, June 29, 2019, WEEKEND EDITION, Image 15

The daily Astorian., June 29, 2019, WEEKEND EDITION, Page B5, Image 15

Image provided by: University of Oregon Libraries; Eugene, OR

About The daily Astorian. (Astoria, Or.) 1961-current | View Entire Issue (June 29, 2019)

Prev Page of 18 Next Prev Issue Next Text PDF JP2 (1.4 MB) Clip/Print Image

Return to Top

Prev Page of 18 Next Prev Issue Next

Newspaper Page TextB5 THE ASTORIAN • SATURDAY, JUNE 29, 2019 Study: Retirees lose by taking Social Security at wrong time instead of Social Security beneﬁ ts. “This shouldn’t be about ‘claim early’ or ‘claim late’, it should be a discussion,” Fichtner said. “If anything, just claim as late as you ﬁ nancially can.” The researchers ana- lyzed the information of more than 2,000 households in a Social Security Admin- istration sponsored sur- vey. Using info respondents provided about health, lon- gevity, ﬁ nances and other details, they used forecast- ing technology to simulate how much their households would be worth throughout retirement based on various timing options. The study did not assume any addi- tional job income in calcu- lating the optimal age. Why don’t people wait to claim later? Teresa Ghilar- ducci, a professor of eco- nomics at the New school and retirement expert, unaf- ﬁ liated with the study, says that there are many rea- sons. That includes personal dynamics within a mar- riage, ﬁ nancial advisers who would lose out if you draw from investments early, a desire to boost income as many older Americans work low wage jobs and difﬁ culty in estimating how long you have to live. While not a complete solution for insufﬁ cient sav- ings, the study’s authors say that optimizing Social Secu- rity would improve the lives of millions of retirees. By SARAH SKIDMORE SELL Associated Press It’s tough to decide when to start taking Social Secu- rity beneﬁ ts and it appears many people are shorting themselves with their choice. A new study ﬁ nds that only 4% of retirees start claiming their Social Secu- rity beneﬁ ts at the most ﬁ nancially optimal time. And current retirees collec- tively will lose $3.4 trillion in potential income to fund their retirement because they started drawing bene- ﬁ ts at a less than ideal time. That’s roughly $111,000 per household, according to the research from United Income, an online invest- ment management and ﬁ nancial planning ﬁ rm. Americans typically can start claiming their Social Security beneﬁ ts as early as age 62 and most adults do so by the time they turn 63. But the size of the monthly ben- eﬁ t grows for each year they wait, maxing out at age 70. It’s not just a ﬁ nancial equation though. Decid- ing when to draw beneﬁ ts depends on a myriad of per- sonal factors such as age, health, other savings, mar- ital status and plans for retirement. But the report’s authors say people aren’t spending enough time sort- ing through this process and policymakers could do more to encourage it. “If you have the discus- George Sheldon/Dreamstime Researchers estimate elderly poverty could be cut by 50% if all retirees claimed Social Security at the optimal time. sions, you can you optimize your decisions,” said Jason Fichtner, former chief econ- omist at the Social Security Administration and one of the report’s authors. “These discussions aren’t necessar- ily happening for everyone.” Those conversations are important because Amer- icans are increasingly in charge of their own retire- ment planning and Social Security is a major compo- nent. It accounts for about one-third of all income annually received by U.S. retirees. And many Amer- icans are underprepared to supplement their retirement with their own savings. For about one-third of retirees, Social Security is their pri- mary source of income. “It is not just about increasing your income, it’s about increasing your chances you’ll be able to afford retirement,” said Fichtner. The researchers also esti- mate that elderly poverty could be cut by 50% if all retirees claimed Social Secu- rity at the optimal time. They suggest policymakers make changes to encourage peo- ple to claim at a more ﬁ nan- cially advantageous age, such as improved education for those eligible for Social Security or changing the ter- minology to indicate that beneﬁ ts may increase with time. For example, research- ers suggest that instead of calling 62 the “early eligibil- ity age” it could be labeled the “minimum beneﬁ t age.” While there is no one optimal age, the research- ers found that 92 percent of retirees would be better off waiting to claim Social Security until at least their 65th birthday. The exact timing is tough to pinpoint, even varying within house- holds depending on age and who earned more. That being said, there are people who are better off taking the beneﬁ ts as soon as they can, such as those in poor health who have less time to enjoy their beneﬁ ts. For others, waiting for the ideal time to claim would mean losing wealth in their 60s as it would require them to live off savings or invest- ment account withdrawals THE ASTORIAN 503-325-3211 or 800-781-3214 Email: classifieds@dailyastorian.com Web: www.dailyastorian.com THE DEADLINE FOR CLASSIFIED ADS is noon the day before your ad is scheduled to run All classifieds require pre-payment 107 Public Notices Occasionally other compa- nies make telemarketing calls off classified ads. These com- panies are not affiliated with The Astorian and customers are under no obligation to participate. If you would like to contact the attorney gener- al or be put on the do not call list, here are the links to both of them Complaint form link: http://www.doj.state.or.us/ finfraud/ 204 Automobiles 251 Boats for Sale 1987 Ford Motorhome Glassply Boat For Sale 23’10” 200EFI 15hrse Outboard Motor Both Run Good w/Trailer Fully Self-Contained Standing Height Over $10,000 Worth of Work All Done, Ready to Go. Just needs a good person to run it! SPECIALTY SERVICES 1989 Honda Prelude $900 Classic. Runs, fair condition. One owner, no accidents. 1 1/2 cylinders dead in engine. (503)325-6649 W E URGE YOU TO PATRONIZE THE LOCAL PROFESSIONALS ADVERTISING IN T HE A STORIAN S PECIALTY S ERVICES . T O PLACE YOUR S PECIALTY S ERVICES AD , CALL 325-3211. Lost something precious? Looking for the original owner? Lost & Found ads are One photo is included Give The Astorian Classifieds a call today! (503)325-3211 or (800)781-3214 2012 Toyota Highlander Hybrid Limited AWD, moon roof, towing package, new Michelin all season tires, great gas mileage for SUV! Moving out of town. 101,500 miles. $16,500 971-227-2341 RENTALS Properties for Rent ............. 601-613 Rooms & Roommates................. 616 Commercial Rental ...................... 619 Vacation Rentals .......................... 622 Storage Space ............................... 628 Wanted to Rent ............................ 634 RV/Mobile Home Space ............ 637 266 Marine Supplies Fishing Permits For Sale • Columbia River/Youngs Bay gillnet permit - $5,500 • Columbia River/Youngs Bay gillnet permit - $6,000 • Oregon troll permit, good to 31.6 ft - $8,000 • Oregon troll permit, good to 42 ft - $11,000 Call 503-325-6649 Leave message if no answer. Looking for a new place to live? The classified ads offer a complete section of homes, apartments, and mobile homes to fit your needs. Check daily for new listings! 301 RVs & Travel Trailers 2011 Tango RV (306RLSS) 31 Ft. -Slide Out- Kitchen Table Well Maintained, Must See To Appreciate! $15,900 (503)440-5391 PETS/LIVESTOCK Animal Boarding .......................... 701 Feed-Hay-Grain ............................ 704 Pets & Supplies ............................. 710 Horses & Tack ................................ 713 If it doesn’t sell in two weeks, we’ll give you MISCELLANEOUS Fuel, Heating & Firewood ......... 807 Furniture & HH Goods ................ 810 BUSINESS OPPORTUNITIES TV & Electronics ........................... 811 Business Opportunities ............. 643 Antiques & Collectibles ............. 813 Business for Sale .......................... 644 Jewelry ............................................ 814 Arts & Crafts ................................... 816 HELP WANTED Help Wanted .................................. 651 APPLIANCES & EQUIP. Work Wanted ................................. 652 Tools & Heavy Equipment ........ 851 Lawn & Garden Equipment ...... 854 SERVICES Appliances ..................................... 860 Childcare/Adult Care .................. 661 Medical Equip. & Supply ........... 866 Services ........................................... 664 Farm Equipment .......................... 923 501 Open Houses OPEN HOUSE SURF PINES HOME 89532 Shady Pine Rd Saturday, June 29 10-2 See www.zillow.com for property details. 504 Homes for Sale Chinook Home & Shop For Sale by Owner 21-foot Bell Boy Boat 351c.i. with 8hp Yamaha Trolling Motor $5,500-OBO Call 702-275-1600 Sell your vehicle 2-bedroom/2-bath Manufactured Home with 30x40 shop. Walking Distance to Port—Store—Restaurants Zoned Multi-purpose. $229,000. 503-298-3389 Sell your children’s outgrown clothes and toys with a classified ad in The Astorian. Call 503-325-3211 to place your ad today! PUBLISHER’S NOTICE All real estate advertising in this newspaper is subject to the Fair Housing Act which makes it illegal to advertise “Any preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or an intention to make any such preference, limitation or discrimination.” Familial status includes children under the age of 18 living with parents or legal custodians; pregnant women and people securing custody of children under 18. This newspaper will not knowingly accept any advertising for real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. To complain of discrimination call HUD at 1(800)669-9777. The toll free telephone number for the hearing impaired is 1(800)927-9275. Classified Ads work hard for you! 604 Apartments Emerald Heights Large and small 2 bedroom newly remodeled apartments available (503)325-8221 FOR RENT: Light and spacious 3-Bedroom/1-Bath apartment in Naselle. Appliances and small yard with garden. First, Last, plus deposit. $800/mo. 360-465-2357 www.DailyAstorian.com 619 Commercial Rental East-end Astoria office with waiting room and restroom for sublease. 8 months left on lease. Longer lease readily available through owner. $550/256SF 360-484-3761. L 2 WEEKS FREE $ for only 49 95 619 Commercial Rental Astoria 120 10th st. Approx. 500 SF Office space. $450/month all utilities included. Seaside. 735 Broadway. Approx. 700 SF Two offices, reception, storage, ADA restroom 503-791-3519 634 Wanted to Rent I AM LOOKING FOR A ROOM TO RENT $200-300/ month and to share in nice home (willing to do chores for discount if necessary). Prefer furnished. I am middle-aged, quiet, considerate, easy-going non-smoker and no drugs. Have small quiet well-behaved dog (me too!). References, love cable TV and Netflix. Kaye 541-272-9089. e h V icle H r u o Y o rives r Floa D t it ere! s... FREE for the week! $6,700 Call (503)440-3369 OR (503)861-8597 $7,000 OBO CALL (541)561-3263 181 Lost & Found -Found- Fishing gear near Coffenbury lake on Sunday, June 16th. Call (541)261-3475 MARINE Special Notices ............................. 104 Boats for Sale................................. 251 Public Notices ............................... 107 Boating Parts & Accessories ..... 254 Announcements .......................... 110 Boats Wanted ................................ 257 Boat Trailers ................................... 260 PERSONALS Marine Supplies & Equip. .......... 266 Lost & Found ................................. 181 Boat/RV Storage ........................... 269 Personals ........................................ 184 Fund-raisers ................................... 188 RVs & Trailers RVs & Travel Trailers ............ 301-307 AUTOMOTIVE Campers, Utility Trailers .... 310-313 Antiques/Classic Vehicles ......... 201 Automobiles .................................. 204 REAL ESTATE SUVs/Trucks .......................... 207-210 Open Houses ................................. 501 4WD .................................................. 213 For Sale ................................... 504-513 Vans .................................................. 216 Lots & Acreage .............................. 516 ATVs/Motorcycles ........................ 219 Income Property .......................... 519 Truck/Auto Parts .......................... 222 Manufactured Homes ................ 522 Detailing ......................................... 225 Commercial Property ................. 525 Tires & Wheels ............................... 228 Real Estate Wanted ..................... 531 If to place your ad NOTICES SEL CALL TODAY CLASSIFIEDINDEX Classified $ 49.95 Doesn’t sell in two weeks We will give you two weeks for FREE! ADVERTISE TODAY 800.781.3214