Headlines
The effect of taxes on your retirement savings
Many people often overlook the effect taxes have on their retirement savings. If you have the “ideal” amount of $1 million in your portfolio, it may only be worth $800,000 or even less after taxes. Your investment income can also…
Your “my Social Security” Personal Account
Here at the AMAC Foundation’s Social Security Advisory Service we hear nearly every day from those frustrated by attempts to contact Social Security to find out relatively simple information, such as what their monthly benefit will be next year. Telephone…
New Spotlight on Social Security? Even the Election Year Hyperbole is a Good Thing.
It’s certainly not surprising that Democrats, trailing Republicans in most election year polling, would resort to their old scare tactic by asserting that Republicans want to cut Social Security and Medicare and “throw Grandma off the cliff.” And. unfortunately, a…
Misunderstanding Social Security Will Hurt You
A program with over 2,700 rules and regulations might be generously described as “complicated,” but what’s an even more serious problem is the number of myths and misunderstandings which permeate public thinking about Social Security. A case in point –…
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…