Headlines
Spousal benefits are a valuable source of retirement income for millions
Social Security pays a combined total of $1.8 billion in spousal benefits every month. More than 2.4 million Americans collect these valuable benefits, but many people won’t qualify for them and the amount paid in benefits will vary significantly among…
The barrier to early retirement
Many Americans dream of retiring early but not everyone gets to realize that dream. According to a new TD Ameritrade survey, Americans identify healthcare expenses as their primary barrier to early retirement. Among the survey of U.S. adults age 45…
Social Security’s Minimum Benefit Explained
The average Social Security benefit is about $1,400 per month, enough to keep a single person above the federal poverty level, though not all Americans who collect make this amount. Social Security’s special minimum benefit was created to offer a higher benefit amount…
Big Government, Robin Hood, and Social Security
Green New Deal. Free child care. Higher Social Security payments. Carrie Lukas, president of Independent Women’s Forum, writes here about a liberal zeal to expand government spending. Social Security’s long-term fiscal health is not good. The program will only be…
Social Security: What Does Insolvency Actually Mean?
The dictionary definition of insolvency is, “the inability to pay one’s debts” So, when The Social Security Trustees report that Social Security will be insolvent in 2034, what does that mean? To begin, Social Security is not going bankrupt. Political…
Income taxes on Social Security unpopular, but raise a lot
Few things about Social Security get seniors more upset than paying income tax on part of their benefits. Benefits became taxable first with a change in the law in 1983 followed by a second change in 1993. Under the taxation…
Expanding Social Security benefits – A pipe dream?
With great fanfare in the opening weeks of the 116th Congress, the Social Security 2100 Act was introduced, promising expanded benefits through higher taxes to resolve the program’s financial woes. According to projections, Social Security is slated to pay out…
Social Security alone won’t cut it
According to a 2018 Northwestern Mutual study, 21 percent of Americans have no retirement savings and according to GOBankingRates, 42 percent have less than $10,000 socked away for the future. Everyone is certainly aware that if you don’t build any…
Effective ways to save for retirement
As the workforce continues to move away from pensions and toward defined-contribution plans, including 401(k) and 403(b) plans, Americans are responsible for funding their own retirement. It is estimated by 2035, nearly 20 million retirees will be living in or…
Planning for health-related expenses before retirement
Retirement should be an exciting stage in your life, but it can also come with some anxiety. Planning for healthcare as we age can be especially worrisome, since it is impossible to be certain how much and what kind of…