Headlines
Social Security’s Future, and What it Means for Retirees
Social Security was never meant to be more than just a “safety net” for elderly and disadvantaged Americans, and was never intended to be the primary source of retirement funding. Nevertheless, there’s little argument that Social Security is a critical…
Reasons Not to Claim Social Security Early
Most folks are aware than claiming Social Security before reaching your full retirement age will result in a smaller benefit. Nevertheless, sometimes there are very good reasons to take your benefits early – chief among them poor health and financial…
Labor Day – A Truly American Holiday
To most people today, Labor Day symbolizes the end of summer – one last celebration, often characterized by street parades, parties, and back yard barbecues. It is a uniquely American celebration, made a Federal holiday in 1894 to pay tribute…
Most Americans agree that they can keep their original retirement plans
When the stock market crashed in March, many older workers worried that their retirement plans had crashed as well. Now, there’s a different sentiment. According to a recent survey by CNBC and Acorns, it found 67 percent of Americans now…
Do you need a Social Security representative payee?
A power of attorney (POA) document allows an appointed person to make financial, legal and property decisions on another individual’s behalf but can they talk to Social Security or Medicare? The answer is no, although financial power of attorney (POA)…
Want a higher paycheck from Social Security?
Social Security is a major source of income for most of the elderly. About 21 percent of married elderly couples and about 45 percent of unmarried persons rely on Social Security for 90 percent or more of their income. So it…
Will adopting CPI-E make a big difference in your Social Security check?
One of the key issues in this election is Social Security. Many retirees feel the program hasn’t kept up with inflation as Social Security benefits have lost about one third of their buying power since 2000. Why? Well, one suggestion…
The Solvency Dilemma: Should Social Security Become a Borrower?
Bloomberg Businessweek’s Peter Coy, in a post today on www.bloomberg.com, advances an interesting theory: What if the Social Security Administration (SSA) reversed the previous financing approach in which the program invested its surplus in U.S. Treasury special interest bonds, instead issuing its own bonds and in…
The Argument for Keeping WEP and GPO
The push to eliminate Social Security’s Windfall Elimination Provision (WEP) is an occasional hot topic in governmental and financial circles. In fact, legislation has been introduced often to take this provision off the books, as in the case of H.R. 3934 (Equal Treatment…
The Social Security “Earnings Test”–Unraveling Persistent Misconceptions
One of the most misunderstood of Social Security’s hundreds of filing rules involves the “Earning Test” provision (some would label it the dreaded or annoying Earnings Test). This provision is that part of the rulebook that potentially reduces retirement benefits for…