Latest News
Is the Social Security issue even worse than reported?
The latest (June) report from the Trustees of Social Security predicts that the SS Trust Funds will be fully depleted in 2033, unless Congress acts soon to reform the program. But, according to at least one retirement research outfit, the…
What Would a 23% Cut in Social Security Mean?
The Trustees of Social Security have warned Congress: There will be a 23% cut in everyone’s Social Security benefit in 2033, unless Congress reforms the program. Hopefully, Congress will act soon to prevent cuts from happening – but what if…
Some Sacrifice needed to save Social Security
As most Americans know from media articles on the topic, the Social Security program is forecasted to experience financial trouble soon. The Social Security Trust Funds, which now contain over $2.7 trillion in assets, will be depleted in 2033, according…
Your Social Security benefit won’t be cut in 2026
If you are worried about your Social Security payment going down in 2026, you likely should not be. Your monthly benefit is based upon your lifetime earnings while working and, except for cost-of-living adjustments (increases), your monthly payment will not…
About the Annual Cost of Living Adjustment (COLA)
Although you may have seen early predictions, it is too soon to know for sure how next year’s Cost of Living Adjustment (COLA) will increase your monthly Social Security payment. That news will actually be revealed in mid-October, after completion…
Paper Social Security Checks Are Changing to Electronic Payments Soon
The Social Security Administration is changing how benefits are paid for about half a million beneficiaries. About 520,000 people, who now receive their monthly Social Security payment by a paper check received in the mail, will need to switch to…
A Quick Summary of the Insolvency Problem
Social Security’s steadily deteriorating financial situation receives considerable attention in the press, with pundits continually assessing the causes, assigning blame, and discussing the potential implications. At this point, the vast majority of folks receiving Social Security benefits or aging into…
A push for a better COLA calculation…and a catch-up payment
Despite recent indications of a potential rise (slight) from the 2.5% COLA projections for next year, the concerns continue to surface about the inadequacy of the living cost adjustment. According to a post by Matt Durr on mlive.com, The Senior…
The downside of “fixes” for Social Security insolvency
It’s not going to be easy, and everybody knows this. After all, the can has been kicked for the past four decades, and the Board of Trustees noted that the kicking can only go another seven years before the cuts…
Is delaying retirement becoming the norm?
According to a survey by F&G Annuities & Life, Inc., the trend toward early retirement appears to be in a period of reversal. In a post on prnewswire.com, F&G’s editorial staff reports that “More than two-thirds (70%) of pre-retirees over…