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Why are more individuals starting Social Security
In April, more than 72 million Americans collected Social Security benefits, according to the Social Security Administration’s monthly statistical snapshot, an increase of 195,000 from March. Why the increase? Is it because more individuals reached 65 and older, or is…
A Common Social Security Myth Explained
One of the most common and perpetual myths is that Congress stole money from Social Security. Although there are many reasons why Social Security is having financial woes at this time this is not one of them. Please read this…
Help boost the amount of your monthly check
A recent Gallup poll found that 59 percent of retirees said their monthly Social Security check is their leading source of income. So, achieving a higher monthly benefit is essential to many seniors. But what if you were many Americans…
Are you ready for retirement?
Are you ready for retirement? Not just financially but emotionally as well. Dan Haylett, director at TFP Financial Planning, believes, “People think retirement is a complicated math problem solved by spreadsheets, numbers, and cash flow, which is part of it,…
Is it worth it to take early retirement?
We all dream of early retirement, but what if someone told you the financial benefits of working just one year longer? Would you do it? Or would you say, I want to retire; I’ve been working for forty years. Jordan…
Repealing WEP and GPO…More Legislative Push
In a post on asppa-net.org, the American Society of Pension Professionals & Actuaries provides a recap of actions in two states–Alaska and Louisiana–advocating for repeal of Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) based on the…
Underscored: The Importance of Understanding Claiming Strategies
In situations where married couples have a disparity in their ages and, therefore, in their strategy options for claiming Social Security benefits, it becomes critical to know the rules. ThinkAdvisor reporter John Manganaro offers a quick recap of a situation…
Supplemental Security Income (SSI) Rule Changes Explained
Social Security Commissioner Martin O’Malley recently announced changes to SSI eligibility rules scheduled to take effect September 30, 2024. The rule change makes several eligibility changes, including expansion of the “households” definition and removal of barriers preventing acquisition of benefits…
Attitudes Toward Retirement Are Shifting
It seems the thought of picking a retirement date and walking away is a thing of the past. The 2024 Annual Retirement Study from Allianz Life seems to support this attitude change, with nearly half of survey participants indicating an…
Ways to Jeopardize Your Social Security Benefits
A steady flow of monthly income via Social Security is something claimants certainly look forward to. After all, the program has been around for over eighty years and has never missed a scheduled payment. While that consistency is certainly a…