Headlines
Your Social Security Payment is Going Up Next Year
By now you may have heard – your Social Security benefit will be going up by 8.7% starting with the payment you receive in January 2023. That is, of course, excellent news for those of us already suffering the insidious…
When Should You Claim Social Security?
This question – “When should I claim my Social Security? – sits right on top of our list of most frequently asked questions here a the AMAC Foundation’s Social Security Advisory Service. Rightfully so, because deciding when to claim is…
Be Wary of Social Security Giveaways with Insolvency Coming
Proposals by Democrats are aplenty each congressional session promising enhanced Social Security benefits, whether as cost of living adjustments, one-time payments, or permanent minimum benefit increases. The problem with nearly all, which are intentionally written to be enticing to the…
How to Avoid Sabotaging Your Retirement
Jordan Bishop has a lengthy, comprehensive piece here that seeks to demystify the confusing enterprise that planning for retirment is to many people. On why to save, he notes Social Security benefits alone will not be enough and that retirement…
Kevin McCarthy, the debt limit, and spending cuts
Eugene Scott of The Washington Post writes that if Republicans win control of the House, the GOP will use raising the debt limit as leverage to force spending cuts — which could include cuts to Medicare and Social Security. He…
Retirement & The 2022 Market Correction
With Social Security replacing only about 40% of pre-retirement income, the market plays a key role for most people’s golden years. Eric Brotman of Forbes notes the reasons behind any correction are always unique, but our reactions shouldn’t be. He…
How has the Public Been so Wrong About Social Security?
John Rekenthaler begins with the 1989 Gallup poll that showed about half of Americans did not expect Social Security to be there for their retirement. His piece notes that everyone who pays into the system, including the youngest, will get…
Social Security: A Political Football Again in Campaign Season
It’s become quite predictable for Democrats to say, “Republicans want to cut Social Security” every two years. But is there any truth to the line? Alexandra Hutzler of ABC News examines the issue, given that two GOP senators have suggested…
2023 COLA Announcement
The news we’ve all been waiting for has finally arrived from the Social Security Administration! Consistent with what many pundits have been predicting, Social Security benefits will be going up by 8.7% starting in 2023 – welcome news for all…
2023 COLA: Not All It’s Cracked Up to Be?
If you watch the news headlines at all, you’ve no doubt heard that the Cost of Living Adjustment (COLA) for 2023 will be historically high – great news, of course, for seniors on Social Security who are struggling to make…