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Retirement planning should be a comprehensive process
You are not alone if you are worried about money, especially during retirement. According to the American Psychological Association, 72 percent of adults reported feeling stressed about money. So, to tackle the stress of financial worries in retirement, all the…
Ten retirement mistakes to avoid
The silver tsunami has begun. According to the U.S. Census Bureau figures, more than 12,000 people will start turning 65 each day, hitting an estimated total of more than 4 million for 2024. The soon-to-be 4 million retirees are making…
Donald Trump & Social Security: A Most Curious Stance
Susan Ferrechio reports that Donald Trump has abandoned his previous stances pre-2015 on shoring up Social Security with a higher retirement age and private accounts in favor of essentially leaving the program as is. “You don’t have to touch Social…
What is the “You Earned It, You Keep It Act?”
Serah Louis explains a bill being reintroduced in the House by Rep. Angie Craig (D-MN) dubbed the “You Earned It, You Keep It Act.” It would repeal the taxation of Social Security benefits, while also extending the program’s solvency by 20…
Social Security Board Nominee in Senate Hot Seat
Esther D’Amico, writing for Kiplinger.com, covers the Senate hearing for Andrew Biggs, a senior fellow at the American Enterprise Institute and a well known Social Security expert. Biggs was chosen by Senate Minority Leader Mitch McConnell to be nominated to…
Proposal: Cut 401(k) Tax Exemption to Fund Social Security Shortfall
Vince Cariaga summarizes here a paper by authors Andrew Biggs and Alicia Munnell from the Center for Retirement Research at Boston College that covers new ground. The two propose to fix Social Security’s looming insolvency problem by eliminating tax preferences included…
Social Security & Immigration: The Now & The Later
Keith Speights acknowledges the negative public sentiment around the recent massive illegal immigration and the bipartisan group of lawmakers trying to grapple with it. Illegal migrants strain public services. As for Social Security, the immediate issue, however, is not enough…
Government Pension Offset: To Repeal or Not?
Just before last Christmas, Martin O’Malley was sworn in as Commissioner of Social Security. His term will run through January 19, 2025, giving him two full years to wrestle with a lineup of troublesome matters facing this venerable program. First,…
Social Security Windfall Elimination Provision: To Repeal or Not?
Just before last Christmas, Martin O’Malley was sworn in as Commissioner of Social Security. His term will run through January 19, 2025, giving him two full years to wrestle with a lineup of troublesome matters facing this venerable program. First,…
Another Look at the Pervasive Pessimism About Social Security’s Future
Media accounts of the problems facing Social Security frequently serve as fodder for pessimism, with terms like “bankruptcy” and “broke” serving to fuel opinions that the program will be dead in less than a decade. It’s true that Social Security…