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Marital Status and Its Affect on Your Social Security Benefits
For those beginning to explore the Social Security benefits that will be available when they elect to claim, the issue of marital status becomes a pretty important factor. For example, benefits for a spouse may be available if the spouse’s…
“Influential Money Expert” Advocates Claiming Benefits at Age 62
Many of the posts we shared on this website through the years deal with the persistent question of which age is the best for claiming benefits. Most analyses focus on the simple math, and that says the longer you defer…
Survey Says: 79% of Americans Agree that a Retirement is At Hand
The National Institute on Retirement Security (NIRS) recently released the results of a survey of working age Americans conducted late last year, revealing that 79% of the more than 1200 respondents aged 25 and older agree with the Chair of…
Here we go again…Government shutdown on the horizon. What about Social Security?
The March 1 deadline for funding legislation would mean a partial shutdown, as explained in a post on the gibsondunn.com website. Following the “laddered” continuing resolution enacted in January, the partial shutdown would affect a limited number of agencies and,…
Approaching Social Security and still confused? You’re not alone!
A recent online quiz offered by MassMutual produced yet another dismal view of how much–or how little–folks aging into Social Security eligibility understand about the basics of this massive program. To be fair, it is not only massive and it…
Understanding Retirement Age and Its Implications for Your Social Security Benefit
Deciding when to claim Social Security benefits is an individual issue, and it depends on some key factors. What’s the best age for one claimant may not be the best age for others, so a complete complement of conditions, like…
Exploring a Myth: Social Security’s COLA is Guaranteed
Let’s start with some background…each year’s cost of living adjustment (COLA) results from comparing the third quarter average Consumer Price Index each year to the same average from the preceding year. The result of dividing the current year’s average by…
A Retrospective of The Need for Social Security Reform Measures
In a post yesterday od Vettafi Advisor Perspectives, content contributor and retired actuary Ken Steiner offers an analysis of what has happened over the past 40 years regarding deterioration of Social Security’s financial situation, and provides conjecture on policy actions…
Understanding Spousal Benefits…And Why They May Not Exist for You.
For married couples looking ahead to retirement finances, the issue of spousal benefits can become a major factor in the planning process. For this reason alone, it’s good to have a clear understanding of how the calculations work and what…
Social Security Insolvency–What If It Actually Happens?
Over the past few years (actually for decades, now), the Social Security trustees have been sounding the alarm on insolvency. Back in 1983, Congress adopted a slate of amendments intended to sustain the program through the mid- 2050’s, although economic…