Bad News: Social Security is Slowly Running Out of Money

It’s something no one wants to hear or even talk about.  But just because it is ignored, rest assured President Biden and every member of Congress and their key staffers know about Social Security’s insolvency problem.  Payments are larger than the take…

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Social Security checks may see a huge raise next year. Will it be enough?

Clayton Jarvis of Yahoo Finance explains the recent spike in inflation and projections of up to a 6.1% cost of living adjustment for Social Security beneficiaries.  That would be the largest increase since 1983 if it holds.  Jarvis profiles several…

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How Social Security calculates raises and why it should change

Maurie Backman of The Motley Fool notes that seniors are in line for big boost to monthly Social Security benefits in 2022.  But the way inflation is calculated to compute the cost of living adjustment (COLA) continues to be a…

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Examining the “Improving Access to Retirement Savings Act”

BenefitsPro contributor John Ruth takes a look at the “Improving Access to Retirement Savings Act” (also known as SECURE 2.0) now moving through Congress, providing a recap of the overall intent of this legislation to address the problem of Americans…

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COLA Watch, Part 2

Yesterday, we highlighted the projection that Social Security’s 2022 COLA could spike to a level between 400% and 500% higher than 2021’s 1.3% adjustment. Whether or not this actually happens, though, depends on the CPI-W numbers from third quarter 2021…

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“Ask Rusty – Disability vs. Survivor Benefit”

Dear Rusty: I have a question regarding Social Security. I’m 54 and applying for disability. I’ve had rheumatoid arthritis since I was 19. My son, 16 years old, receives survivor benefits from my deceased ex-husband. We were married for 20…

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