Headlines
Social Security’s cost-of-living adjustment (COLA) for 2019 will be 2.8 percent
The Social Security Administration announced today that 63 million beneficiaries, including retirees, disabled workers and their eligible dependents and surviving family members, will receive a 2.8 percent increase in benefits next year, the largest annual cost-of-living adjustment since 2012. The…
Before you file for your Social Security benefits early, think about what you’ll be giving up
The average senior today collects roughly $1,400 a month in Social Security, but if you’re not smart about when you file for benefits, you could end up with a lot less. Although your benefits themselves are calculated based on your…
How the Retirement Enhancement and Savings Act of 2018 will help employees of small businesses
Many economists believe that America is in the midst of a financial crisis – a retirement savings crisis. Despite all the positive economic news, statistics show that 14 percent of Americans have no money saved for retirement, while another 42…
Working Longer May Not Be the Answer
The retirement savings dilemma seems to be one of the most enduring topics covered in media outlets these days. From those approaching retirement with meager accumulated wealth to those forced out of careers just as they entered the “wealth accumulation”…
What if Social Security paid “lump sums” to entice people to defer benefits?
This is a fascinating article written and based on research by Olivia Mitchell, a Wharton professor of business economics and public policy. First, Social Security is facing insolvency by 2034, meaning it will no longer be able to pay benefits…
Social Security and Age 62: Three Things to Know
It is literally one of the most important decisions one can make in retirement, and perhaps even in one’s lifetime– when to take Social Security benefits. Imagine realizing years after electing to receive a monthly Social Security payment for life…
Brace for the all important COLA announcement October 11
Over 62 million people receive Social Security benefits, of which more than 43 million are retired workers. Over 60 percent of retirees are reliant on Social Security for a majority of their monthly income, and 1/3 depend on their checks…
Social Security & Reform: Can we tax our way to a solution?
In this very comprehensive analysis, Dan Caplinger of The Motley Fool takes a hard look at how Social Security is currently funded and what it would take to address the solvency issue solely by adjusting its taxes. Caplinger notes the…
“Looting” Social Security’s Trust Fund Dead Wrong and an Obstacle to Reform
John Attarian is a freelance writer who has completed a book on Social Security. In this piece, Attarian takes on the persistent myth of the Social Security Trust Fund, producing a thorough history of Social Security. As he notes, there…
Surprise! Your Social Security Benefits May be Taxed
For many folks entering the retirement world with an understanding of what their monthly Social Security benefit payment–the benefit they’ve earned through a lifetime of work and FICA tax contribution–will be, it comes as a surprise at tax time to…