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Can Social Security Actually Go Broke?
Maurie Backman addresses the all important question surrounding the upcoming insolvency of America’s most popular but troubled retirement program. But the answer is no. It’s not going broke, as in bankruptcy. As long as even one person is working, funds…
Social Security Math – 3 factors NOT to overlook
Dana Anspach of MarketWatch discusses how people talk about their Social Security claiming plans just before retirement, noting that so-called “napkin math” is costing people tens of thousands. She gives examples of claiming ages noting the obvious– it pays to…
3 Reasons You Might Regret Retiring in Your 50s
Kailey Hagen has a piece here on how early retirement is growing in popularity, with more than a third of millennials and nearly half of Gen Z workers hoping to retire before age 60, according to a recent Goldman Sachs survey. Social…
Failing to prepare for retirement can mean ‘generational deficits’
Grace Williams of Yahoo Finance writes about the alarming number of Americans ill prepared for retirement. She discusses the issue with Derek Ferguson, chief administration officer at TIAA. Nearly 40% of Americans risk running out of money in retirement, he said,…
Why Would One Claim a Smaller Social Security check at 62?
Maurie Backman acknowledges the literature on delaying Social Security to get more. Claiming at age 62 means benefit cuts of up to 30% for life. Health issues and unexpected job loss are reasons people may need to claim early. Full…
Average Retirees Can Collect $740/mo More With This Simple Move
The age at which you file could make or break your retirement according to Katie Brockman. Most retirees will rely on Social Security to some degree in retirement. Note 88% of current retirees depend on their benefits, per a Gallup…
Overcoming the 3 Biggest Barriers to Retirement Savings and How to Overcome Them
With Social Security set to replace only about 40% of pre-retirement income, people must do their own part in their working years. Kailey Hagen advises workers to address a lack of cash by reducing expenses, increasing monthly income, or both.…
A Bigger Problem With Social Security Than Benefit Cuts?
Chances are you’ve read about the automatic benefit cuts all will endure in a decade if Social Security is not reformed before then. But Maurie Backman says a more pressing issue now and in the near term are COLAs that…
A Little History on Social Security COLA 1975-2023
Matt Frankel provides a COLA history in this piece. Since the modern method of determining the Social Security COLA went into effect in 1975, the average has been 3.77%. This is the result of adding all the historic COLAs since that…
The Latest on 2025 COLA Watch
Adam Levy notes The Senior Citizens League updated its cost of living adjustment (COLA) forecast after the most recent consumer price index (CPI) data from May. It now surmises seniors will receive a 2.57% bump in their Social Security checks…