Headlines
Social Security’s Misunderstood Funding Problem
In a post on www.dailyrepublic.com, Rate.com’s Carla Fried takes a look at the results of a recent Transamerica Center for Research Studies report indicating that almost 80% of surveyed workers expressed the opinion that ““Social Security will not be there for me.”…
Rep. Larson Reiterates Need for New COLA Measurement
In a statement following the Social Security Administration’s announcement of a 1.6% cost-of-living adjustment (COLA) for beneficiaries beginning in January 2010, Rep. John B. Larson (CT-01) acknowledged that the current process for adjusting benefits is inadequate in comparison to the…
The Retirement Savings Dilemma: Some Possible Causes
Saving money isn’t easy under any circumstances, and saving for retirement is even more difficult. It seems so far away, and other factors just keep getting in the way. Many folks tend to lean toward excuses that explain why they…
Social Security and Taxes: How Well do you Understand the Relationship?
In yesterday’s Headline post on this site, we made a glancing comment about the taxation of Social Security benefits. Referring to this often unexpected situation as “double taxation,” we linked to an article describing how federal (and state) taxes are levied…
A Quick Update for Those Approaching Social Security Eligibility
For anyone on the cusp of Social Security eligibility, there are several basic program characteristics that need to be understood. Having a clear perspective on these program fundamentals will help prepare new beneficiaries for the road ahead, from an understanding of…
“Fixing” Social Security–Understanding the “Raise the Cap” Approach
You’ve heard it before, and you’ll hear it again: “Just eliminate the Social Security payroll tax cap and the solvency problem goes away.” In fact, you’re hearing it right now via deliberations on HR-860, “The Social Security 2100 Act” now…
Holding off on filing for Social Security benefits isn’t always a good idea.
The less money you have saved for retirement, the more likely you are to rely on Social Security. For the average earner, Social Security benefits will replace about 40 percent of their former salary. We often hear from experts that…
Is a new metric needed that’s more closely tied to retiree costs?
According to a recent data from the Bureau of Labor Statistics, health insurance surged 18.6 percent from August 2018 to August 2019, which is second only to intercity bus fare. The data come from the Bureau of Labor Statistics’ Consumer…
Women lag behind men in retirement savings
According to Bank of America’s 2019 Workplace Benefits Report, men have a median retirement savings balance of $100,000, whereas women have a median balance of just $30,000. Because women tend to earn less than men, there are only saving a…
Misjudging this factor could make for a challenging retirement
A recent survey from TD Ameritrade found approximately 58 percent of Americans say they think $1 million will be enough to last through retirement. The truth is, however, those golden years are becoming more expensive, and the harsh reality is…