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The Amount of Available Savings Will Influence Your Claiming Decision…Here’s How
For many, it’s one of the most gut-wrenching decisions that needs to be made: When to claim Social Security benefits? And one of the main factors that influence one’s final decision on this issue is, logically, the amount of savings…
The Importance of HSAs in Retirement Savings Plans
Traditionally, most folks these days look to deferred compensation plans–IRAs and 401ks–as a primary source of wealth accumulation for retirement. This is especially relevant to the company-sponsored 401 k plans that offer an employer match. While all of this is…
SSA–Keeping You Safe from the Antics of Advertisers and Scammers
In a post on manisteenews.com, public affairs specialist for west Michigan Hillary Hatch clarifies the steps that the Social Security Administration takes to protect the public from the scammers and imposters preying on folks dealing with the Social Security program.…
Assessing the “When to File” Question in the Face of Projected Benefit Cuts
The persistent question of when to claim Social Security retirement benefits–early or as late as age 70–perplexes many folks, and as we explain here at the AMAC Foundation it’s not a simple decision. There are a number of factors to…
Bipartisan Social Security Fix May Fall Victim to Old-fashioned Politics & Partisanship
Laura Litvan summarizes what the U.S. Senate has been working on regarding Social Security reform to stave off the 20% or greater automatic cuts to all that are coming in a decade. She quotes GOP Sen. Mike Rounds of South…
Where Congressional Reform of Social Security Stands
The good news is that some members of Congress are talking about Social Security and Medicare’s financial insolvency issues. The bad news is there is little agreement on the medicine to cure the patient. Julia Mueller and Stephen Neukam writing…
Overview of the Social Security Taxable Earnings Base
The Congressional Research Service is out with a document this past week that provides a broad overview of the Social Security Taxable Earnings Base. Some history of the amounts over time is included. The issue makes news when reform proposals…
Social Security Benefits Will Be Less Robust in Future, Even with Reform
Vince Cariaga takes readers through the insolvency issue here, well known by now to most. Reforms tend to include a higher retirement age and/or payroll tax increases to stave off the automatic cuts coming around 2032-33. But that may not…
Good Reasons to Delay Retirement
While there are likely many to list, Maurie Backman lists three reasons to delay retirement, particularly the start date for Social Security benefits. You get the highest monthly Social Security benefit for life at age 70 even though one can…
3 Things to Know if New to Social Security
Understanding the basics of how Social Security works is more important that just grabbing one’s benefits as soon as possible without thought. Maurie Backman address cost of living adjustments here. She also explains that Medicare Part B premiums are deducted…