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Would You Share Your Home To Earn Income in Retirement?
Social Security replaces just 40% of pre-retirement income. Financial planners and experts have advised for years that savings and pensions (or 401k plans) are needed to make up the difference so people can enjoy a fruitful retirement over mere existence. Gabrielle…
Five Expenses May Offset Social Security Payment Increases
Kelsey Ramirez of Fox Business notes the highest cost of living adjustment (COLA) in 40 years for Social Security recipients, at 5.9%, still has a downside. Increases are designed to protect buying power, but as she notes, many seniors are still falling…
Social Security 2100 Act – Just Old Wine in a New Bottle?
Alicia Munnell of MarketWatch dives into Rep. John Larson’s (D-CT) 2021 version of his 2019 Social Security 2100 Act. The new bill produces only about half the revenue as the 2019 proposal, mainly because the payroll tax is not raised. This…
Senior Conundrum: Inflation is Higher Than Upcoming COLA
What is one to do? Yes, the 5.9% cost of living adjustment scheduled to take effect January 1, 2022 is the highest in 40 years for Social Security recipients. But prices are rising faster than that. Kelsey Ramirez analyzes different inflation data,…
Simplify Retirement Planning with Social Security’s New Statement Changes
The Social Security benefit statements that people can access on-line are about to become more helpful and informative. Kelsey Ramirez explains the changes announced by the Social Security Administration in October. A few changes to the redesigned Social Security Statement are these: Ability to…
Another Chilling Look at the Future of Social Security
The solvency problem facing our Social Security System is a generally acknowledged fact, as supported by the program’s Trustees in their most recent Annual Report to Congress. Actually, if you go back in history, you’ll see that the problem has…
Proclamation on Veterans Day, 2021
Many of our readers are aware that AMAC and the AMAC Foundation hold support of the Veteran Community to be a revered priority. Indeed, over the years both entities have actively promoted many causes relating to those who have served…
Social Security Outlines Veterans Statistics
In preparation for the upcoming Veterans Day Holiday, the Social Security Administration (SSA) yesterday published a recap of the program’s service to the Veteran community. SSA notes that the Veteran population encompasses more than 8.5 million beneficiaries, or about 15.4% of all adult…
Social Security’s Ongoing Solvency Discussion: CRS Weighs In
The long-term solvency problem facing Social Security is getting renewed attention now, with the re-introduction of the “Social Security 2100: A Sacred Trust” (H.R. 5723/S. 3071) bill two weeks ago. Shortly after this bill was dropped in the 117th Congress, the Congressional…
Drawing Social Security Benefits at 62: Now A Declining Trend
Many financial advisors for years have been advising clients to hold off on filing for Social Security benefits until their full retirement age or, if they can, until age 70, when the delayed retirement credits stop adding to the payout.…