Financial Literacy

Increase your Social Security payments with these tips

Figuring out when to apply for Social Security benefits and what benefits you’ll be eligible for can be surprisingly complicated. The best strategy for maximizing your benefits depends on factors such as your marital status, age, earnings, and financial needs. The Balance recommends several Social Security calculators, including a free one from AARP, that can help you create a personalized claiming strategy.

Financial Wellness Series

Managing financial wellness can be a challenging do-it-yourself endeavor for many Americans. However, no one must do it all alone! Naperville Public Library’s upcoming financial wellness events provide the opportunity to learn from a financial expert about Social Security and Tax Planning. Dates, times and locations are listed below. No registration or library card is required to attend these programs.

Increase Your Financial Literacy During Money Smart Week

While most Americans probably wouldn’t try to manage their own medical or legal affairs, many are shouldering growing responsibilities for making personal financial decisions. They face a vast array of savings options for retirement, college and other goals (Roth vs. traditional IRAs, 529 plans and more) as well as a dizzying choice of credit vehicles (credit cards, home equity loans, reverse mortgages, etc.). At the same time, the proportion of private workers covered by a defined benefit retirement plan (traditional pension) has fallen sharply over the last few decades.