Headlines
Two competing proposals aimed at Social Security solvency
With almost 62 million Americans currently collecting their Social Security benefits and about 10,000 boomers a day turn 65, the Social Security trust fund would be able to pay benefits on a timely basis until 2035, according to the 2020…
When and how to retire is one of the most important decisions
When you reach a certain age, the decision on when to retire is an important decision. Your decision will impact you and your family’s financial security and quality of life for the rest of your lives together. The decision should…
Expenses retirees face are climbing at a faster clip.
Although all consumers are grappling with rising prices for older Americans living on a fixed budget, having to absorb those higher costs can hit harder. After analyzing the Consumer Price Index data from the Bureau of Labor Statistics, Mary Johnson,…
How to reduce and pay off your debt and save for retirement
We all dream of a carefree retirement but most of us have too much debt. According to an analysis by Credible, it found that “among 60-somethings who owe student loan debt, the average balance is just over $33,000; plus add…
When should you sign up for Social Security?
You have a span of eight years to file for your Social Security benefits beginning at age 62 and ending at age 70; there’s no reason to delay filing past the age of 70. If you file for your benefits…
Social Security – What You Don’t Know CAN Hurt You
The foreword in our recently-published book on Social Security (“Ask Rusty: What’s So Hard About Social Security”) presents this daunting comment: “Let’s face it…Social Security is a massive program, with over 2,700 separate rules and regulations governing the financial benefits…
Viewpoints on the Future of Social Security
The recent introduction of the “Time to Rescue United States’ Trusts (TRUST) Act” (see this post from earlier this week) has brought a wave of commentary regarding Social Security, focusing on both its future and its solvency. For example, yesterday’s post here…
Concerns Expressed Over “TRUST” Act
Advocates for Social Security expansion have voiced concerns about the recently introduced “Time to Rescue United States’ Trusts (TRUST) Act” (see yesterday’s headline post on this site), suggesting that the approach outlined in the ACT’s design could bypass the normal legislative…
Proposed Action on the Social Security Solvency Issue
U.S. Senator Mitt Romney (R-UT), joined by a bicameral group of 16 Senators and House Representatives, introduced the “Time to Rescue United States’ Trusts (TRUST) Act,” outlining its focus to “create a process to rescue the endangered federal trust funds and rein…
Pandemic Effects on Retirees: Somewhat of a Mixed Bag
The job-related impact on older workers appears to have been more severe than the effects felt in younger segments of the workforce, as explained today in a startribune.com post by NerdWallet’s Liz Weston. “Older workers lost jobs faster and returned…