The Impact of Proposed Social Security Changes, From Doing Nothing to Scrapping the Cap

Several proposed changes are being considered to help address Social Security’s looming insolvency problem. Susan Rupe, managing editor at Advisor News, explains many of the options here. As an example of the leading thoughts on reforming Social Security, the Association of…

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Cost of Living Adjustment to be Announced on October 10, 2024

After months of estimated projections, we will finally have a concrete amount for the benefits increase starting in December and showing up in January 2025 payments. That’s the”good” news. However, it’s essential to remember that an expected increase in Medicare…

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How Correcting a Simple 1972 Mistake Can Make Social Security Solvent

Dave Rose, a Senior Research Fellow at the American Institute for Economic Research, describes how a costly mistake was made in 1972 in the procedure for implementing Cost of Living Adjustments indexing of benefits to protect beneficiaries from the effects…

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Impacts of Social Security Shortfalls On Millennial Couple

Elizabeth O’Brien writing here in Barron’s describes a new report by HealthView Services on how a millennial couple could lose more than $908,000 in lifetime Social Security benefits if Congress fails to shore up the program’s trust fund. That is…

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Immigration & Social Security’s Funding Crisis

Social Security and Medicare are important issues to voters 50+, and many cast ballots based on them. Lorie Konish of CNBC writes a comprehensive piece here noting that illegal immigration does not play any significant role in the looming insolvency…

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“Ask Rusty – Will my Wife’s Survivor Benefit be Less if she Claimed Her Social Security Early?”

Dear Rusty: I claimed Social Security at 70. My wife claimed her own SS at 62, and her earnings were significantly lower than mine. I understand my wife will be eligible to claim my benefit if I pass before she…

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