Headlines
Say what you may about the millennial workers, but….
Say what you may about millennial workers, but they are out saving the older workers. The latest Vanguard report found millennial workers are ”set to replace 58 percent of their prior earnings during retirement.” The experts point to developments within…
Why Americans do not like these possible Social Security funding solutions
Yes, the Social Security Trust fund is in trouble; however, Social Security will not run out of money since current workers fund retiree beneficiaries. Although current workers pay into the program via payroll tax, the revenue will not be enough…
When are Social Security benefits taxable?
“Certain things in life are unavoidable, including dying and having to pay taxes!” Many Social Security recipients are surprised that they may have to pay taxes on their benefits. Of course, it will all depend on whether you exceed the…
How people will be impacted by Social Security cuts
In 2023, an average of almost 67 million Americans per month receive a Social Security benefit. Social Security is the major source of income for seniors. But the Social Security Trust Fund is in trouble if not resolved; there is…
About Social Security Solvency
Over the past couple of years, we’ve reported numerous times on this page about the looming financial dilemma facing Social Security – depletion of the Old Age, Survivors, and Disability Insurance (OASDI) Trust Funds in the early to mid-1930s, and…
Storm Clouds Over Medicare Advantage?
Medicare Advantage (MA) – healthcare plans from private insurers which replace “original Medicare” – have become all the rage in recent years because they frequently offer services beyond those covered by government-administered Medicare. Medicare Advantage plans typically include restrictions on…
Social Security if a “government shutdown” occurs, plus more about SS solvency
We’ve previously posted reassurances that Social Security benefits will continue to be paid even if a “government shutdown” occurs due to Congressional bickering over the budget for the forthcoming fiscal year. Just to reiterate and emphasize – Social Security payments…
Unique Rules for Surviving Spouses
Judging by the feedback we get from those seeking our counsel about Social Security survivor benefits, even some representatives of the Social Security Administration lack a full understanding about how surviving spouse benefits work – specifically, that the rules for…
Government Shutdown? Social Security benefits, and others, will still be paid
Hyperbole abounds as we approach the end of September, by when Congress must act to provide funding for government operations for the forthcoming fiscal year. If not, then a “government shutdown” will occur. Sounds ominous, right? Well, to some extent…
Surpluses Running Dry. What do Americans Want to do About it?
Social Security faces an inability to pay promised benefits under current law in about 10 years. Selena Marnajian explains the issue, the more than 20% cuts that will occur for all, and the possible fixes. More income can be taxed.…