Headlines
Social Security Reform Must Be “On the Table”
Often referred to as “the third rail of American politics,” reform of the nation’s Social Security program has been elusive for decades, largely because Congress has been unable to muster the bipartisan spirit needed to make needed changes. Simply put,…
Retired, but moving abroad?
You worked your whole life, contributing to Social Security, and now want to retire outside the United States – but can you receive your Social Security payments while living abroad? Well, usually yes, unless you move to one of several…
The “Trust Funds” for Social Security and Medicare
If you pay attention at all to print and electronic media, you’ve likely heard a fair amount of noise about the “Trust Funds” which contain surplus money reserved to pay future Social Security and Medicare benefits. But the media noise…
Need Help With Prescription Drug Costs?
Let’s face it, we all need a little help now and then and America is a very generous country, always focused on how to provide assistance to the needy. Case in point: under the auspices of federal Medicare, Americans below…
COLA Expectations Must be Tempered for 2024
Trevor Jennewine reviews the large 8.7% cost of living adjustment (COLA) granted to Social Security beneficiaries in January 2023. It was the result of very high inflation not seen in several decades. But inflation has slowed greatly, which will translate…
Americans Are Underestimating Their Social Security Benefits
Andrew Lisa has a fascinating piece here that details the opposite conclusion from what one might think. We know Americans tend to be over-reliant on Social Security from other research, by not saving as much on their own and not…
Peak 65. Haven’t heard of it? It’s coming in 2024.
Cyrus Bamji, guest contributor to the street.com, explains that in 2024 the U.S. will mark a historic demographic milestone called Peak 65. That’s when our nation will experience more Americans turning the traditional retirement age of 65 than at any time…
High Earners Not Taking Retirement Seriously Enough
High-earning households should understand that Social Security will replace a smaller share of pre-retirement income. That’s the nature of the progressivity built into the program, which has always been at its core, an anti-poverty program. Brian O’Connor states in this piece that…
Biden’s 4-Point Plan to Change Social Security Barely Moves Needle
Sean Williams writes often about Social Security and other finance issues. He describes President Biden’s four point plan to change Social Security, which is facing insolvency in just 10 years. The problem is the plan barely moves the needle. An…
Is Gen X the broke generation?
In a recent survey of individuals born between 1965 and 1980, Gen Xers found 56 percent of them said they have less than $100,000 saved for retirement, and 22 percent said they have no retirement savings. Almost two-thirds of the…