Headlines
The lack of knowledge about Social Security
Social Security is a cornerstone of retirement. And for some, Social Security will be, or is, their primary source of income in retirement, according to the just-released 2021 US Retirement Survey. The study confirms that many Americans find Social Security…
The power of retirement planning
In the latest study from Fidelity’s State of Retirement Planning, many Americans who thought their retirement planning was on track before the pandemic now find their plans detoured or even derailed. The study found “most Americans (69 percent) describe themselves…
Unlike nearly 40 years ago, saving Social Security will be far harder
About 65 million people collect Social Security benefits each month, and they account for about one in five people in the United States. America’s largest government program is in trouble with the projected depletion of the trust fund around 2030.…
Biggest mistakes Americans make when it comes to Social Security
Almost all workers participate in Social Security by making payroll tax contributions. According to the Social Security Administration, 97 percent of the seniors aged 60 to 89 either receive Social Security or will receive it. Social Security, for many Americans,…
Things you need to know if you are claiming Social Security at 62
The most popular age to begin collecting Social Security benefits is age 62. However, if you choose to retire as early as age 62, it may result in a reduction in your Social Security monthly benefits by as much as…
Seniors Weigh-In on Need for Social Security Reform
Using terms like “skimping so much,” “watching where the pennies go,” and “my Social Security benefit is far too low to cover my monthly expenses,” Seniors participating in a House Ways and Means Social Security subcommittee meeting this week expressed their…
“Strengthening Social Security For Widows Act” Introduced
Rep. Tom Reed (R-NY 23) yesterday introduced the “Strengthening Social Security For Widows Act,” a bill intended to enhance the benefit available to a surviving spouse. Under current Social Security rules, the survivor would receive the larger of the two benefits…
COVID-19 and Retirement Plans…Rethinking the Future
COVID-19 has wreaked havoc on the economy in general, and it’s also devastated the personal financial situation of many individuals and families. Those are both understatements, for sure, but in addition to the immediate damage, it’s become obvious that the pandemic has also…
Another View on Social Security’s Solvency
Yesterday’s headline post offered conjecture that the expected depletion date for Social Security’s trust fund reserves might not be as close as many analysts and pundits feared. What had been thought by some to be full depletion as early as…
Social Security After COVID-19: An Improved Outlook?
Although the 2035 timeframe for full depletion of the Social Security Trust Fund reserves remains the current projection of record, and since the Social Security trustees have not yet released an update for 2021, it’s starting to look like the much-feared…