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With some simple planning, you can maximize your Social Security benefits
Social Security will only replace about 40 percent of your working income. However, over 21 percent of married couples and about 45 percent of unmarried persons rely on Social Security for 90 percent or more of their income. If you…
A new projection for Social Security Trust Fund depletion date
The nonpartisan Congressional Budget Office (CBO) has updated its projections on the depletion date of the Social Security and Medicare Trust Funds. CBO is stating the Social Security Trust Fund is slated to be exhausted in 2032, which is one…
Social Security is overwhelmed
The majority of Social Security offices were closed and the personnel telecommunicating since the start of the COVID-19 pandemic; however, some managers had to report to their offices to handle mail duties. The Office of Inspector General, SSA recently issued…
Only 10 percent of Americans plan on maximizing their Social Security benefits
A fraction of non-retired workers ages 45 and up say they plan to wait until age 70 to begin drawing Social Security. In the recent Schroders’ 2021 U.S. Retirement Survey, only 10 percent of the respondents said they plan on…
Why are local Social Security offices still closed? Other government buildings are open.
Hannah Catlett of cleveland19.com investigates and explains how the Social Security Administration is failing the American public with this expose in the Cleveland, OH area. Think you can walk into a local Social Security office to get a new card…
Social Security’s Problems Should be Above Politics and Pandering
A plethora of bills are routinely introduced in every new Congress, mostly by Democrats, promising higher benefits, whether in the form of cost of living adjustments, one-time payments, or permanent minimum benefit increases. The problem with all of the proposals,…
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…
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…
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…
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…