Headlines
Many people chose to retire early during the pandemic but…
The COVID pandemic wreaked havoc on many people’s lives and caused financial hardship for millions of Americans. However, according to a recent Seattle Times report, “many people chose to retire early during the pandemic but surprisingly decided to put off…
Why Social Security is underfunded—and why it matters
The Social Security program protects against the loss of earnings due to retirement, death, or disability. The financial operations of this program are handled through the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds. Both funds are…
Potential new challenges as a retiree
According to United Nations, the average life expectancy in the United States is 78.9 years. What does this mean to your retirement? A longer life expectancy means your retirement could last 20 years or more, and without proper financial planning…
Would You Share Your Home To Earn Income in Retirement?
Social Security replaces just 40% of pre-retirement income. Financial planners and experts have advised for years that savings and pensions (or 401k plans) are needed to make up the difference so people can enjoy a fruitful retirement over mere existence. Gabrielle…
Five Expenses May Offset Social Security Payment Increases
Kelsey Ramirez of Fox Business notes the highest cost of living adjustment (COLA) in 40 years for Social Security recipients, at 5.9%, still has a downside. Increases are designed to protect buying power, but as she notes, many seniors are still falling…
Social Security 2100 Act – Just Old Wine in a New Bottle?
Alicia Munnell of MarketWatch dives into Rep. John Larson’s (D-CT) 2021 version of his 2019 Social Security 2100 Act. The new bill produces only about half the revenue as the 2019 proposal, mainly because the payroll tax is not raised. This…
Senior Conundrum: Inflation is Higher Than Upcoming COLA
What is one to do? Yes, the 5.9% cost of living adjustment scheduled to take effect January 1, 2022 is the highest in 40 years for Social Security recipients. But prices are rising faster than that. Kelsey Ramirez analyzes different inflation data,…
Simplify Retirement Planning with Social Security’s New Statement Changes
The Social Security benefit statements that people can access on-line are about to become more helpful and informative. Kelsey Ramirez explains the changes announced by the Social Security Administration in October. A few changes to the redesigned Social Security Statement are these: Ability to…
Another Chilling Look at the Future of Social Security
The solvency problem facing our Social Security System is a generally acknowledged fact, as supported by the program’s Trustees in their most recent Annual Report to Congress. Actually, if you go back in history, you’ll see that the problem has…
Proclamation on Veterans Day, 2021
Many of our readers are aware that AMAC and the AMAC Foundation hold support of the Veteran Community to be a revered priority. Indeed, over the years both entities have actively promoted many causes relating to those who have served…