Headlines
Do you still want to retire early?
For the FIRE (Financial Independence, Retire Early) adherents, the pandemic crisis has created an opportunity for many to slow down and reflect about their goals and priorities. The pandemic has helped clarify the viability of your financial plan; this is…
Taxation of Social Security Benefits–Can You Avoid It?
The taxation of Social Security benefits became law way back in 1983, when the program was facing severe financial stress. At that time, up to 50% of a beneficiary’s total Social Security income could be added to their gross income…
Stimulus Negotiations and Comments on a Payroll Tax Holiday
Pre-recess deliberations on another coronavirus relief package are continuing amid complex and divergent viewpoints on the size and content of further relief. From a Social Security standpoint, one of the concerns continues to be the administration’s continuing push for a…
Social Security Insolvency: 2031 Says CRFB
The Committee for a Responsible Federal Budget last week projected the point of exhaustion for Social Security’s Trust Fund reserves will arrive by 2013, according to CNBC Personal Finance Reporter Lorie Konish. Ms. Konish, in a post on cnbc.com, cited the…
COVID-19 and the Decision to File for Social Security Benefits
For many folks dealing with the financial upheaval associated with the coronavirus pandemic, looking to file for Social Security benefits may seem to be a simple solution for those not yet at their full retirement age. And it may be,…
Spinning the Job Numbers: Two Divergent Viewpoints
President Donald Trump and presumptive Democratic presidential nominee Joe Biden each took stands regarding the recent government reports on the 4.8 million jobs added in June and the downward trend in unemployment levels. As could be expected, they disagreed on…
Happy 4th of July Weekend!
We at Social Security Report have a little historical trivia here for July 2-4. First, read this letter from John Adams of Massachusetts to his wife Abigail, written July 2nd (yes 2nd), after The Second Continental Congress voted to approve a…
Fertility Breeds Instability for Social Security
Brenton Smith of Fedsmith.com explains how lower fertility is not a new problem. Politicians have known about it for decades. He ties the issue to Social Security’s long term solvency problems, which are now closer by several years due to…
A presidential candidate’s radical Social Security reform: The 6.2% Plan
Keith Speights profiles Libertarian presidential candidate Jo Jorgensen’s Social Security plan, perhaps the most radical transformation since the program’s founding in 1935. Never heard of Jorgensen? Neither has most of America. Third party candidates rarely gain traction in our history. …
Next 3 Months Are Crucial for Social Security Recipients
July, August, and September are crucial for anyone receiving Social Security benefits. That’s because the consumer spending data from only those three months are used to calculate the inflation rate. This then determines what the cost of living increase (COLA)…