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Social Security Benefits for Children
Sure, Social Security is well known as a retirement benefit program for American seniors, but it is actually much more. Almost from its inception, Social Security was intended to also provide financial security for eligible dependents of retired seniors who…
2023 Medicare Part B Premium Increase May Be Mitigated
It’s too early to say for sure, but the 2023 increase to Medicare’s Part B premium may be somewhat mitigated, or perhaps even zero, as a result of the Centers for Medicare and Medicaid Services (CMS) overestimating Medicare costs for…
Tips that ordinary people can use to find their personal retirement numbers
U.S. workers aren’t saving enough for retirement. The annual Retirement Confidence Survey found that: “More than half of workers report they have less than $25,000 in total savings and investments, including 29 percent who have less than $1,000.” Planning for…
Avoid these common myths to make the right choices in retirement.
Every person knows of at least one terrifying urban legend they tell around the campfire late at night. As with all folklore and mythology, the designation suggests nothing about the truth; but merely that it is in circulation, exhibits variation…
Some proposals to strengthen Social Security
The Social Security Trust funds will be able to pay scheduled benefits on a timely basis until 2035. At that time, the combined funds’ reserves will become depleted, and continuing tax income will be sufficient to pay 80 percent of…
Americans may be considering claiming Social Security early due economic concerns
You can begin your Social Security retirement benefits as early as age 62. However, there are advantages and disadvantages to taking your Social Security benefit before your full retirement age. The advantage is that you collect benefits for a longer…
The key number you need to know
Are you aware you can start receiving your Social Security retirement benefits as early as age 62? However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full…
Dealing With Social Security’s Uncertainty
Social Security’s looming insolvency has been a factor for many years, and has been cited by the program’s trustees annually as a cause for concern and something that requires congressional attention to resolve. Indeed, the most recent trustees’ most recent…
COLA Watch 2023: Another Extraordinary Forecast…With a Look at the Downside
We’re almost one month into the measurement period for calculation of next year’s Social Security cost-of-living adjustment (COLA), and projections are consistently surfacing of an increase north of 10 percent. The CPI reports for the July, August, and September will,…
Understanding Your “Breakeven” Point on Social Security Benefits
“When should I file for Social Security benefits” remains the most frequently asked question we receive here at the AMAC Foundation Social Security Service…almost a quarter of the thousands of inquiries we receive each year raise this perplexing question. As…