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The Likely Permanence of Tax on Social Security Benefits
It’s an irritant to more than half of today’s Social Security beneficiaries, but all indications are that taxation of the benefits they’ve earned through a lifetime of participation in America’s workforce is here to stay. In fact, with Social Security…
Social Security’s Importance
Although many media sources hasten to point out that Social Security will not be sufficient for many retirees to enjoy a retirement completely free of financial anxiety, the fact remains that the benefits represent a means to “keep an estimated…
The debate about Social Security’s age thresholds
With the now well publicized financial difficulties predicted in Social Security’s future, the debate is ongoing about how to fix the program to ensure solvency well into the future. Usually somewhere in that debate, the subject of changing Social Security’s…
Social Security and Medicare advice for couples
While many people tend to think of their individual situation when it comes to Medicare and Social Security, the fact is that couples should pay a lot of attention to coordinating their benefits when it comes to both programs. Not doing…
SSDI – The ultimate safety net for workers
Statistically, one in four workers now 20 years old will become disabled at some point in their working career. And with the American workforce evolving to a so-called “gig economy” (contractors & part time workers vs. traditional employees with benefits), knowing that about…
Scammers now targeting Social Security beneficiaries
In a devious twist to an old scam, criminals are now targeting Social Security recipients in their efforts to relieve you of some of your money. Not long ago, scammers claiming to be from the IRS used their tricks and…
Social Security Spousal Benefits: How they are computed
The spousal benefit and how it is computed is clearly one of the most confusing and misunderstood aspects of the Social Security program. Many people think that a spouse simply gets 50% of the other spouse’s benefit amount, but it’s much…
Crucial tax deadline is approaching fast, are you ready?
An important deadline is approaching fast: December 31 is the last day to take your required minimum distributions (RMDs) from your traditional 401(k) or IRA. If you are age 70 ½, this is the amount you must withdraw annually from…
Waiting isn’t always going to be the best option
Based on an analysis from the Center for Budget and Policy Priorities, out of the more than 62 million current recipients, Social Security is responsible for keeping an estimated 22.1 million individuals above the federal provider line every month. Because…
How to use and interpret online retirement calculator
Yes, it’s impossible to predict the future on how much money you’ll need down to the dollar in your retirement, but you can make an educated guess by using a retirement calculator. In Kailey Fralick’s article for the Motley Fool, she…