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Social Security at the Tipping Point

2018 brought with it what The Motley Fool’s Sean Williams refers to as an “undesirable inflection point”–a term used to describe a turning point in the historical progress associated with Social Security. Here at the AMAC Foundation, our Social Security…

Surprise! Your Social Security Benefits Can be Taxed

It comes as an unwelcome surprise to many new Social Security beneficiaries, but the truth is your monthly benefit may be subject to federal income tax. In fact, it’s not only possible, it’s likely, since more than half of current…

Social Security and your future retirement

A recent Gallup survey revealed that more than half of those not yet retired doubt that they’ll get any Social Security benefits when their career ends. Although widespread, this skepticism about the program’s future may be unfounded, mainly because of the…

Don’t blame Social Security for the Federal deficit!

Some political figures as well as many arm-chair experts cite Social Security as one of the causes of the continually expanding Federal deficit. While it’s true that Social Security pays out huge sums in benefits each year to over 60…

Social Security Changes for 2019

There are some things which are inevitable, and among them are the annual changes to various Social Security benefit factors. Some changes, such as COLA (cost of living adjustment) and increases in the annual earnings limit, may mean more money…

How claiming your Social Security benefits at 62 can work out quite well

Social Security will play a significant role in your retirement, which means you’ll want to be smart about when to claim your benefits. Seniors get an eight-year window to claim benefits that begins at age 62 and ends at age…

Should you rely on Social Security for all of your retirement income?

Social Security was designed as a program to provide benefits for older Americans who no longer could provide on their own. Today, it is responsible for keeping more than 15 million aged beneficiaries above the federal poverty line. However, counting on Social…

Retirement confidence high but savings are not

Are Americans feeling more confident about their ability to retire? According to the recent survey by AllianceBernstein, it finds that 47 percent of defined contribution plan participants – 15 percent more than last year – are feeling confident about their retirement prospects. However,…

Here’s what could happen to your monthly Social Security benefit if the asset reserves disappears

Currently 62 percent of the 62.7 million Americans receiving Social Security benefits each month, 43.4 million of whom are retired workers, are reliant on their benefit check for at least half of their income. According to the latest Social Security…

Social Security is only part of your retirement income

According to data from Transamerica, the median retirement savings balance among Americans in their 60s is a mere $172,000. At first glance, this amount seems like a decent chunk of cash, but when we apply a 4 percent annual withdrawal…

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