Latest News
Proposed Solution for Social Security Insolvency
U.S. Senator Sheldon Whitehouse, Chairman of the U.S. Senate Budget Committee, spoke at the Social Security hearing today. His remarks offer a perspective and a proposed solution to the Social Security insolvency issue. Read here… Similar to many consulting organizations,…
Another COLA Prediction
Although the actual COLA percentage won’t be officially announced until mid October, predictions continue to come forth. These have varied a bit recently, but seem to be settling down to around 2.6%. We will see what it is in mid…
H. R. 82 regarding WEP and GPO Making Progress
Congressman Clay Higgins is forcing a vote on HR 82, which has been lingering without action for some time. There may be good news for government workers who earned a pension while not paying into Social Security. Read here… The link…
Social Security Benefits: Then & Now
How have benefits changed over the last 20 years? Katie Brockman notes the average retiree receives far more in benefits each month today than in 2004. The maximum benefit 20 years ago at full retirement age was $1,825 per month.…
Working While on Social Security? Watch out.
For those beyond full retirement age (now 67), this warning does not apply. But, Katie Brockman advises those who work while collecting benefits between 62 and 67 to be aware of income limits. Social Security reduces benefits once certain thresholds…
Tips to Be a Roth IRA Millionaire
With Social Security replacing a mere 40 percent of pre-retirement income, Maurie Backman provides 3 tips on becoming a Roth IRA millionaire here. Federal Reserve data from 2022 shows the average American aged 64-74 had about $609,000 in retirement savings.…
Will Kamala Harris address Social Security’s COLA flaw?
Maurie Backman eludes to the big cuts coming to Social Security checks in about a decade absent reform. But of more immediate concern is how Social Security cost of living adjustments (COLAs) are based on only 3rd quarter changes in…
What do Statistics Say Is Best Age to Claim Social Security?
As Katie Brockman notes, the age you sign up for Social Security is one of the most important factors influencing your benefit amount, and it can affect your payments by hundreds of dollars per month. You can claim as early…
Why do retirees take Social Security when they do?
Katie Brockman seeks to find out why people take Social Security when they do, since the options range from age 62 to 70. When asked why they chose to take benefits at the age they did, 47% of current beneficiaries…
The Risk of Claiming Social Security at 70
Achieving the highest possible monthly Social Security benefit possible means waiting until age 70 to claim. This is because benefits compound at 8% annually between 67 and 70. But one must consider all the lost checks not collected from 62…