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The Amnesty Numbers Game
A case study in politicized statistics. Immigration policy is fraught with trade-offs. There is the welfare of citizens versus non-citizens, distribution versus efficiency, diversity versus cohesion, liberty versus security — the list goes on. There is no policy formulation that…
Creating an income plan from your savings
You’ve saved for years. Now that retirement is here (or near), how do you create an income plan from your savings? There are five steps. We, as an industry, constantly talk about the need to save for retirement. Put money into…
6.5 Million New Reasons to Worry About Your Social Security
Worldwide, there are estimated to be somewhere between 300 and 450 supercentenarians — people at or above age 110 — alive today. Unfortunately, a recent report from Social Security’s inspector general reveals that Social Security’s records indicate that about 6.5…
New unit will investigate Social Security disability claims
Rhode Island’s attorney general and the Social Security Administration have established a new unit to investigate and prevent fraudulent Social Security disability claims. Attorney General Peter Kilmartin and the Social Security Administration, Office of Inspector General, announced that two full-time investigators…
Democrats Embracing Social Security Expansion
In the wee hours of [Friday] morning, when most people were sleeping, the Senate took a vote that has momentous implications for who will win in 2016 and beyond. In three resounding votes over the last two days, Democrats rediscovered…
Social Security and You: When maximizing really minimizes
I thought I was done, at least for a while, writing columns about Social Security maximizing strategies. But as I’ve pointed out in past columns, probably 80 percent of the emails I get from my readers have to do with…
What Is the Maximum Social Security Tax for 2015?
With the onset of tax season, Americans are getting an unpleasant reminder of precisely how expensive the Social Security system is to fund, with employment taxes eating up as much as 12.4% of an individual’s earnings every year. But the…
Long Night in Senate, but Real Budget Work Awaits
Emerging from an all-night session that was more exhausting than dramatic, Senate Republicans on Friday squeaked through a budget blueprint that would repeal the Affordable Care Act, fundamentally remake federal health care for the poor and elderly, and push the…
Grim News On Health Costs In Retirement
If you need a reminder that Medicare covers only a portion of retiree medical expenses, check out this report. Released Wednesday by HealthView Services, a Danvers, Mass., company that provides retirement health-care cost data and tools to financial advisers, it finds that…
Social Security: How Divorce and Remarriage Affect Your Benefits
Social Security is a complicated program, with twists and turns in its rules that can trip people up even in the simplest of circumstances. For those who have gone through divorce or are remarrying, it can be even tougher to navigate…