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Customer Service at Social Security
As a non-government Social Security Advisory Service, our staff here at the AMAC Foundation deals almost every day with Americans who are frustrated with their experiences trying to deal with the Social Security Administration. Many have tried and given up…
Important Facts About Social Security and Your Retirement
According to the recent annual report from the Trustees of Social Security, reserves held in the Trust Fund are sufficient to pay full benefits up to about 2034. That’s either troubling or good news, depending on how you view it,…
Social Security Won’t Be Enough To Live On
Social Security was never intended to be your sole source of retirement income. Indeed, the average Social Security retirement benefit is about $1666 per month, and the average couple’s combined benefit is about $2739 per month, hardly enough to make…
Waiting Until 70 To Claim Social Security Isn’t Always The Best Choice
Nearly every financial advisor will counsel their clients to wait as long as possible to claim their Social Security benefits, even up to age 70 when those benefits reach maximum. And that’s often very sound advice if the person’s personal…
About Cutting Social Security Benefits
Anyone who follows Social Security matters knows that the Trustees of the program have been forecasting for years that the Trust Funds will run dry in the mid-2030s, potentially precipitating an across the board cut in benefits. The likelihood of…
State Taxation of Social Security Benefits
It sometimes comes as a surprise, especially for those new to Social Security, or seniors who move to another state – some states levy a state income tax on Social Security benefits. That’s in addition to the federal taxation of…
About Working In Your Retirement
Working during retirement is something that a surprising number of seniors do, for a variety of reasons. For some, getting out of the house and enjoying the camaraderie of coworkers has value on top of the paycheck. For others, working…
Your Age When You Claim Social Security Sets Your Benefit Amount
Pretty much everyone knows that they can start collecting Social Security benefits at age 62, and reality is that most people actually do claim at that age. But by doing so, they (often unwittingly) take a significant cut in their…
Social Security 101
With Social Security, it’s pretty easy to get caught up in the weeds of this program with over 2000 rules, but sometimes it is a good idea to look at the basics. And that’s what this U.S. News article by…
Your Share of Costs with Medicare
Far from being a free healthcare benefit, the standard Medicare program has deductibles and only pays 80% of the Medicare-approved amounts for services Medicare covers. Those deductibles and the extra 20% “copays” are your responsibility, and many Americans choose to…