Headlines
An Update on HR-82 (Social Security Fairness Act of 2021)
H.R.82 (titled the Social Security Fairness Act of 2021) proposed by Rep. Rodney Davis (R-IL) has advanced in Congress, advancing out of the Ways and Means Committee but still facing an uncertain future in the 117th Congress. In a post…
Planning for Retirement in the Face of Potential Social Security Changes
The Social Security solvency problem is continuing to gain attention in the media, and there seems to be growing optimism that resolution of the long-term deficit situation will soon get congressional attention. But for those striving to build a workable…
Thoughts on the Plight of Social Security
Just about everyone affected by Social Security is aware that the program is facing a rough financial road in the years ahead, with the current operational deficit causing mounting concern about what will happen when the program’s trust fund reserves…
What to Consider When Retiring at 62
Many Americans dream of retiring at 62; it is the most popular age to begin Social Security. But have you thought out all the details involved? Have you asked yourself these questions: How will you pay for healthcare? Will you…
The other side of the COLA coin
We have all read the headlines concerning the 2023 Social Security cost-of-living adjustment (COLA) could be the highest in 40 years. However, no one has mentioned the possible consequence of this potential historical increase: Taxes. Since 1984, Social Security beneficiaries…
Another estimate on the 2023 COLA increase
The U.S. Bureau of Labor Statistics reported the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in August. So, what does that mean to Social Security recipients? Mary Johnson of The Senior Citizens League has updated her…
New Survey Cites Retirement Concerns
The most recent edition of the Schroders 2022 U.S. Retirement Survey, released today, calls attention to a somewhat glaring contradiction in viewpoints about Social Security retirement benefits. In a post today on pionline.com, Pensions & Investments reporter Margarida Correia notes that…
Why this change to Social Security is most likely to happen
There are many proposals to resolve the Social Security insolvency problem and preserve full benefits for Social Security recipients; not all have bipartisan support. However, there is one that enjoys this support: Tax income above $400,000 to help fund Social…
The cash needed to cover health care needs in retirement
Brian O’Connor of Yahoo Finance has a piece here explaining the math one needs to know to finance health care costs in retirement, especially since Social Security replaces a mere 40% of pre-retirement income. He cites the Fidelity Retiree Health Care…
New Safety Protocols to Address Long Waits at Social Security Offices
Lorie Konish of CNBC explains how recently opened Social Security offices are dealing with the huge influx of in-person meetings in the face of summer heat and continued Covid-19 precautions. Offices shuttered in March 2020 at the pandemic’s onset, but…