Two Simple Choices Can Impact Your Social Security Benefit
Statistics from the Social Security Administration (SSA) show that 48% of married elderly beneficiaries, along with 71% of unmarried elderly beneficiaries (61% combined), are reliant on their monthly Social Security benefit check for at least half of their income. And according to the July 2017 snapshot from SSA, the average benefit check to retired workers a month was $1,369.97 or $16,439.64 annually which is above the federal poverty level ($13,860 for one person) but not by much.
In Sean Williams’ column appearing on www.madison.com , he states there are two simple choices that working Americans can make today that could have a remarkably large impact on their Social Security benefit amount once they retire. Read article here…
Dear Dan Weber,
My husband and I are AMAC member living in Monument, CO.
We are both in our mid-70’s and retired. We have reviewed your proposed AMAC Social Security Plan. Since we are ‘elderly’, we have some concerns pertaining to the Plan.
1. As you mentioned, there was no SS COLA in 2009, 2010, and 2016 despite most expenses went up basically for Seniors (food, insurance, medical,etc.)I believe that we should be compensated for at least 3 years for a at 2% COLA increase;
2. As of “Enhanced Survivors Benefits”, I believe that proposed benefits (starting 2022- “75% of the decedent benefits in addition to their own” SS benefits) should be extended to all Retirees, not just newly retired persons;
3. Social Security benefits should NOT be taxed at all! The government has been taxing our SS benefits now and over the years which they promised NOT to do (what happened to the Lock Box). The government told us our SS money would not be touched for anything other than the Retiree, but, as you know, the ‘politicians’ took from this fund time and time again reassuring the taxpayers that they would be ‘reimbursed’! All I know is that our SS benefits are only backed up with I.O.U.s from politicians which were NEVER re-paid!’!!
Please consider my proposals and let me know your opinion.
Thank you for your time and consideration.
Maria T. and Martin P. Wade
Monument, CO