Headlines
Starting in 2020, the Social Security Trust Fund starts to shrink
According to most experts, starting in 2020 Social Security will start paying out more in benefits than it receives in revenue That means that the Trust Fund, now at $2.8 trillion and the source to make up the difference, will start…
New Medicare cards coming – watch out for scams!
Congress has mandated that, over the next two years, the Centers for Medicare and Medicaid Services (CMS) issue new identification cards which don’t use your Social Security number. While this is meant to protect beneficiaries from identity theft, it also…
When to Start Your Social Security Benefits
No matter where you are between the age 62 and 70, you can start your Social Security retirement benefits. Also remember the longer you wait within that window, the larger your monthly check will be. However, depending on your personal life…
Making the Right Assumptions in Retirement
According to a study by the Financial Industry Regulatory Authority (FINRA), only 39 percent of Americans have tried to figure out how much they need to save for retirement. For those who actually do take action sooner, they typically seek…
The Military’s “Blended” Retirement System
The military retirement system is changing and it will affect everyone joining the force and many current service members. U.S. Congress approved the changes to the retirement system in the 2016 National Defense Authorization Act. Brigadier General (Ret.) Michael Meese,…
Understanding How Social Security Works
While Baby Boomers have seen the full retirement age climb to 67, the Pew Research Center reports that half of both the Millennial and Gen X workforce already dismiss Social Security as a viable source of their future retirement income.…
In-Service Rollover
One of, or perhaps the “first step to securing your retirement is to take control of the wealth you worked a lifetime to create.” If you’re still working and 59.5 years old, you have the ability to roll over money,…
A Simple Four-Step Guide on How Much to Save for Retirement
You know you must save something for retirement, but you probably don’t know exactly how much. You’re not alone…the majority of Americans–around 81 percent–don’t know what amount of money they’ll need to retire. In Christy Bieber’s article on Northwest Indiana Times’ website (http://www.nwitimes.com),…
Social Security: What You Don’t Know Can Cost You
Senator Susan Collins (R-ME) was quoted during a Senate Special Committee on Aging hearing held last year on how to help Americans make the most of their Social Security benefits. She said: “Deciding at what age to begin claiming Social Security retirement…
Happy Mother’s Day!
The staff at Social Security Report extend best wishes to all for a Happy Mother’s Day! In keeping with our editorial objectives for the site, we’re also calling your attention to a post from the Social Security Administration addressing Social…