Headlines
GAO Report Cites Inadequacy in SSA Claiming Advice
A report issued by the Government Accounting Office (GAO) to the U.S. Senate’s Special Committee on Aging earlier this month points out substantial deficiencies in the Social Security Administration’s (SSA) handling of the claims process on behalf of applicants. While the report…
New Hearing Being Held on Solvency Issue
The Subcommittee on Social Security in the House Ways and Means Committee will be holding a hearing today on “understanding Social Security’s Solvency Challenge.” This hearing will compare estimates on the finances of the system by both the Congressional Budget…
How Budget Cuts Effect Social Security
Recent budget cuts meant lay-offs in the Social Security Administration. Although this did not mean there were any benefit cuts, it did negatively affect many beneficiaries. With fewer staff came longer wait times and closed offices across the country creating…
Chance for COLA Increase in 2017
Current projections show that a .2% increase in benefits is likely for Social Security in 2017; however, there is still a month before the official announcement. This would be an average increase of $2.70 considering the median monthly benefit is…
Steps to Take for Stable Retirement
Social Security is not meant to fully fund your retirement; it is meant as a supplement. For this reason, it is important that you take the steps to ensure your own savings, especially these days as company pensions become a…
Looking at Retirement–What Scares You the Most?
While many people typically think the likelihood of exhausting one’s finances in retirement is their biggest fear, there are other concerns that tend to weigh on people as they look to their “golden years.” Morningstar.com readers were asked “What is your…
Social Security and Younger Americans
Social Security does not only cater to those at retirement age, the Disability and Survivors Benefits also help younger Americans. Many minors with disabilities benefit from Supplemental Security Income but have a hard time transitioning to adulthood. When they turn…
A Closer Look at Retirement Savings
The tone of most discussion surrounding the state of retirement saving in this nation paints a pretty grim picture. Most sources state that Americans are terrible at saving for retirement and come to rely on Social Security as their sole…
Affording Retirement
The most common advice when it comes to collecting Social Security is to wait until the age of 70 to start collecting benefits. By doing this you are ensuring that you get the maximum monthly payments. However, most cannot afford…
Baby Boomers Are Propping up the Economy
Baby Boomers are still arguably the most influential generation in America. Just looking at the current political landscape can tell you as much, where Boomers dominate in positions held in every branch of government, including as candidates for the next…