Latest News
More Thoughts on “Social Insecurity” and What to Do About it
In this post, National Association of Plan Advisors (NAPA) contributor Nevin E. Adams, JD offers thoughts on addressing the looming Social Security insolvency dilemma projected for 2035 and the accompanying benefit cut facing seniors. Adams recaps longstanding “solutions” put on…
Focusing on Early Filing for Social Security Benefits…the Downside
Filing for Social Security retirement benefits at the earliest possibility–age 62–remains the most frequent starting point for those aging in. Sure, you get payments much sooner, but don’t forget they’ll be substantially reduced–and that’s a permanent reduction. So, if you’re…
Focusing on Early Filing for Social Security Benefits…the Upside
Well, as in so many decisions you’ll make in life, it’s really an up-and-down world. So it goes with the question of when to file for Social Security retirement benefits. While the previous Latest News post on this site addressed…
Key Social Security Changes in 2022–Some Affecting SSA Funding
Everyone on Social Security is aware of at least one change in Social Security benefits–the 5.9% COLA that hit on January 1. Of course, there are other routine changes in program factors, like an increased earnings limit, an increase in…
Social Security Alert: Marriage Changes Things, but You Need to Report Status Changes to SSA
The editorial staff at gobankingrates.com yesterday posted a reminder that any changes to marital status need to be reported timely to the Social Security Administration, noting that these changes must be reported within 10 days after the end of the…
Inflation and Retirement Plans: Yes, There’s a Close Relationship
Postponing retirement has become a norm for about a quarter of Americans planning to transition from careers to a post-career life, according to the results of polls for the BMO Real Financial Progress Index published last week. Even more to…
Medicare: A Brighter Spot on a Dismal Financial Landscape, But Don’t Relax
The Medicare Trustees, in their 2022 report to Congress and the American people, note that the full depletion date for the key Medicare trust fund has been moved backward by two years, from 2026 to 2028. That means that the…
Social Security 101: A Quick Assessment of What You Should Know
Yes, Social Security is confusing to those who look at it for the first time. That’s why the AMAC Foundation operates a free service, its Social Security Advisory Service, for folks having questions about the options available to them under…
Working in Retirement? Will it Bump Up Your Social Security Benefit?
Maybe, maybe not. More to the point, probably not. A post on Community99.com provides an analysis of, first, how the benefit calculation takes place when you file for Social Security, and then how earnings after beginning to draw retirement benefits…
Did you forget your old 401(k) plan?
Many of us who have quit a job have forgotten to take something with us, be it a sweater or plant, but did you forget to take your 401(k) plan? There were nearly 25 million forgotten 401(k) accounts with an…