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Things to Know Before Claiming Social Security
One of the most frequently asked questions to The AMAC Foundation’s Social Security Advisory service is “when should I claim Social Security?” It’s a simple question but one for which the answer is that it always depends on your personal…
Filing for Benefits, Even if an SS Agent Says You Shouldn’t
Here at The AMAC Foundation’s Social Security Advisory Service, we regularly hear from people who have been given incorrect information by an agent at the Social Security Administration (SSA). That’s not meant to denigrate the agency, but rather to highlight…
Social Security Affected by Persistent Unemployment Checks
Many economists and Republican governors have been fuming for months now about the so-called “Biden bonus” of paying people an extra $300 per week not to work through early September. Opponents of this scheme, passed in the last stimulus bill…
Beware Bills in Congress That Would Exacerbate Social Security’s Problems
A number of bills are being introduced in the current Congress that promise higher Social Security benefits, whether as increased of cost-of-living adjustments, one-time payments, or permanent minimum benefit increases. Most of the proposals have been introduced by House Democrats and are intentionally written to…
The time is now for action on Social Security
The Hill contributors Jeffrey R. Brown and Mark Duggan remind readers that infrastructure is not the only pressing problem needing attention in Washington. They note Social Security is running a deficit this year for the first time in 40 years. It…
Finding Social Security Rules and Regulations in Writing
There are literally thousands of rules and regulations pertaining to The Social Security Act, such that laypeople often find themselves shut out and needing advice from federal employees of the agency, lawyers (generally for the disability program), and other financial…
Memorial Day – A Day to Remember
After a 2020 fraught with sacrifices from the pandemic, Memorial Day 2021 is set to see more picnics, barbeques, and social gatherings. But let’s not forget the day is set aside to remember the many Americans who have lost their lives in military service…
There are long-term financing problems with Social Security but it can be fixed
Mary Beth Franklin, a certified financial planner and contributing editor at Investment News speaking at a Bipartisan Policy Center event, told the audience, “Social Security is not going bankrupt… there are long-term financing problems that we can deal with.” It’s…
Benefits could increase by 4.7 percent next year?
The Social Security cost-of-living adjustments (COLA) are generally announced in October and helps offset your loss of purchasing power due to the effects of inflation. Cost-of-living adjustments are typically equal to the percentage increase in the consumer price index for…
How to delay Social Security when it makes sense
Although predicting how long you will live is impossible, things like general good health and a family history of longevity could lead to a higher probability of living a long life. So, it makes sense to delay your Social Security…