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Marriage and retirement
Most people think life after retirement is full of excitement and fun, endless golf games and pickleball. You can spend a lot of time with your spouse and cross things off your bucket list, but things can be otherwise if…
Does your state tax Social Security benefits?
The Internal Revenue Service announced Jan. 29, 2024, as the official start date of the 2024 tax season when the agency will begin accepting and processing 2023 tax returns. Some retirees will not need to file if their total income…
AFGE Issues Urgent Appel for Increased Funding
The American Federation of Government Employees, representing three-quarters of a million federal employees, yesterday declared the Social Security Administration (SSA) to be “an agency in crisis,” outlining its case for $20 billion in a proposed supplemental funding package over the…
Paying FICA Tax While Drawing Social Security Benefits
Many folks remain in the workforce after claiming their Social Security retirement benefits, some on a part time basis, some full time. Often one of their beliefs is that continuing to be subject to the payroll tax—the FICA tax—will increase…
GOP Frontrunner Trump Maintains “Don’t Touch” Stance on Social Security
In a post yesterday on finance.yahoo.com, contributor Vance Cariaga offers an update on Republican presidential candidate Donald Trump’s position on campaign hot button Social Security. The update, in essence, is that there has been no change in Trump’s position that…
Candidate Haley Lays Out Four Specific Fixes for Social Security and Medicare
In a FoxNews Channel/YouTube video circulating today on the internet, 2024 Republican Presidential candidate Nikki Hakey chided her opponents for taking a “hands off” stance on the need for Social Security and Medicare reform. She outlined her plan to address…
Social Security’s Looming Insolvency–Know the Facts
Most folks tuned into current economic affairs are well aware of the projections that Social Security’s trust fund reserves, valued at nearly 3 trillion dollars just a few years ago, will be depleted by 2033 (or 2032, depending on the…
Is a Social Security Perpetuity Tax Coming?
Ted Jenkin, CEO and co-founder of oXYGen Financial, writes for Fox Business that a Social Security tax on all of your income is a real possibility under a second Biden term. He notes Biden has called for putting the combined…
Op-ed: Moves to maximize Social Security benefits in 2024
Lea Ann Knight, co-owner and managing partner at Better Money Decisions, writes for CNBC about being strategic in taking Social Security, an important income stream for millions in retirement. Waiting until age 70 is the usual best advice to gain…
Spotlight on Social Security Tax– 200+ People Have Already Paid Theirs in 2024
Teresa Ghilarducci, a former economics professor, highlights the Social Security wage cap in this Forbes piece. Only the first $168,600 in wages in 2024 are subject to the combined employee and employer 12.4% tax, and many of the uber rich…