Money

It seems like a simple question, but I cannot get a straight answer, arrg!!! Help! If I retire at 64, and no longer work, and I decide not to take SS benefits until 67, will the SS amount continue to grow by waiting those 3 years? If it does not, I should just start taking it at 64, right?

In 2004 my car was repossessed by Triad Financial Corp., and resold. Friday, January 5th I received a letter from Business Administrative Services LLC., on behalf of Oakfield Investments LLC., offering a one-time offer of $617.26.  If I do not pay this amount Business Administrative Services is saying they will to file a 1099-C for 2023 with IRS in the amount of $6,172.58. Is there a time limit on debt collection? Can they do this and claim this as income from 2023.  I am a retired 81 year old senior.

I will turn age 70 on June 1 and plan to start taking Social Security then in order to get the highest amount. So I have a timing question: Do I have to have first turned age 70 to do this? For example, should I tell them to start me on July 1,  2024? Or if I tell them to start me on June 1, 2024 is there some  risk that they will pay me at the lower tier?

As the market continues to experience volatility, people in or nearing retirement are seeking ways to protect their savings. Fixed income investments and annuities can provide a stable source of income and help mitigate the risks associated with market fluctuations. Fixed income investments such as bonds, CDs, and money market accounts offer predictable returns. While they may not generate the same level of growth as stocks, they provide a steady stream of income that can help cover essential expenses in retirement.Annuities are contracts with insurance companies that provide guaranteed income payments for a set period of time or for the rest of your life. Annuities can offer a number of benefits, such as:Guaranteed income: No matter how the market performs, you will receive the agreed-upon income payments.Tax-deferred growth: The earnings on your annuity grow tax-deferred until you start receiving payments.Death benefit: If you pass away before you have received all of your annui