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Myth-Busting: Common Misunderstandings about Social Security
Surveys have shown that there is a fairly widespread lack of understanding about the basics of Social Security. One of the most frequently quoted studies is the survey conducted not too long ago by Massachusetts Mutual Life Insurance Co., wherein 72%…
Social Security and the Old Age Dependency Ratio
Forbes contributor Elizabeth Bauer provides an interesting perspective on the future of Social Security in America, focusing on the relationship between the number of workers providing tax income and the number of beneficiaries, using the term “old age dependency ratio” to…
Social Security and the “Baby Boom Generation”
One of the most frequently-repeated statistics quoted in the media these days is the number of “Baby Boomers”–those with birth dates starting from the early- to mid-1940s and ending anywhere from 1960 to 1964–reaching retirement age each day. Generally, the pundits…
Understanding the “Gig Economy”
It’s not a fad or a passing fancy. With a quarter of America’s workforce now considered to be freelancers, the “gig economy” is systematically re-defining the modern labor market. By media definition, this is the label applied to contract and…
Drop in Disability Claims Attributed to Economic Improvement
Social Security’s Disability Income (SSDI) trust funds are experiencing a bit of a breather, a development New York Times’ writer Nelson D. Schwartz attributes to the improving U.S. economy. The numbers published by the Social Security Administration show a roughly…
Thoughts on Re-branding Social Security
Economists and Congressional Representatives seem to be developing an increasing awareness of the problematic use of the term “entitlements” to describe Social Security benefits. Rep. John Larson (D-CT) perhaps sums it up best with this statement quoted by Benefits Pro columnist…
Social Security’s Compassionate Allowances
In a post today on Santa Ynez Valley News, Social Security Administration public affairs specialist Jackie Zaragoza shares thoughts and insights into the assistance available to cancer victims via Social Security’s compassionate allowances provisions. As her post suggests, expedited access…
What if Congress doesnt fix Social Security, what can future retirees do?
According to a recent survey by Employee Benefit Research Institute (EBI), only seven percent of American workers are very confident that Social Security will pay them benefits in retirement equal to the benefits being paid to current Social Security recipients. Yet…
Building a realistic retirement strategy
Working Americans are primarily on their own when it comes to retirement planning. According to a recent survey, 65 percent say they’re confident in their financial future but just half have a long-term financial plan. The survey also found, among…
Next tax reform may address retirement accounts
In the United States, basically there are 15 general types of retirement plans, and many of these plans have their own sets of rules on contribution limits, tax deduction limits, and guidelines when savers can contribute and withdraw their funds.…