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Questions to Ask Yourself About Retirement in Your 50s
Many of us didn’t put much thought into our retirement when we were in our 20s, 30s, or even 40s. But now, we are in our 50s and retirement is probably just a decade or so away. Now, it’s time to…
Congress must act now to avoid big Social Security cuts later
The just-released Social Security Trustees’ Report carries a dire warning: If Congress doesn’t act soon, steep cuts in benefits will be kicking in about 17 years from now. To some, 17 years sounds like a long time off, so they say…
It’s time to fix Social Security’s financial issues
On the heels of the Trustee’s Report on Social Security, it’s time to look the problem squarely in the face and take action to fix it. Social Security’s two trust funds – Old Age & Survivors, and Disability – are…
The 2017 Social Security Trustee’s Report
Social Security’s Board of Trustees released their 2017 annual report yesterday, including a forecast that there is no change to the projected date the OASI (Old Age & Survivors) and DI (Disability) Trust Fund asset reserves, now totaling $2.85 trillion, will…
Though well-intended, Social Security agents sometimes get it wrong
Given the complexity of the subject, the Social Security Administration’s agents dealing with the public don’t always provide correct information to potential beneficiaries. They certainly all mean well, but with over 2700 pages of rules and regulations, it’s not at all…
If you owe Uncle Sam money, they could take it from your Social Security check
Nearly 50% of retired couples and over 70% of single retirees depend on Social Security for about half of their retirement income, and nearly all recipients depend, to at least some degree, on their benefit to make ends meet. Be aware…
When a young worker dies, the rules for survivors benefits are less strict
Though most view Social Security as a program only for older Americans, it’s also a program for the survivors of workers who tragically die at a young age. In these cases, surviving spouses and young children can receive benefits from Social Security,…
Should you claim Social Security at 62, or not?
62 is the “magic age” when most are eligible to start collecting their Social Security benefits, but is it wise to do so? Well the answer is, “It depends”. As with many things in life you have choices, and whether…
Fixing Social Security’s financial woes
You don’t have to be a political junkie to know that the Social Security program is having some financial difficulties. The interesting thing is that both political parties have active bills in Congress that could address those issues, with varying…
Getting the most you’re entitled to from Social Security
With hundreds of claiming strategies and thousands of rules governing Social Security benefits, it’s no wonder that some folks just throw up their hands in frustration and take what seems easiest. But stepping back and doing a careful and deliberate evaluation…