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Tax Season is at a midpoint, and Social Security taxation is on many minds
Tax season is the time when many of us are reminded of the daunting impact that income taxes–state and federal–have on our financial situation. And, as the tax season rapidly moves toward its April end, not being fully aware of…
The Complexities of Survivor Benefits Explained
Social Security benefits for surviving spouses can be rather complicated so, for financial planning purposes, it’s important that couples clearly understand how the process works. As in the case of most of Social Security’s regulations, the age at which this…
Georgia Congressman Rips into Labor Department ESG investment rule
Rep Rick Allen (R-GA), co-signer on H.J.Res.30 introduced February 7, 2023 by Rep. Andy Barr (R-KY), spoke on the House Floor against the Biden Administration Labor Department rule regarding ESG investment in long-term investment funds. Citing the Administration’s emphasis on…
The “Retire Early” Question, Again. Some Reasons on the pro side
The general question of when to file for Social Security benefits is, without question, one queries fielded most frequently by our staff here at the AMAC Foundation Social Security Advisory Service Staff. And our responses always start with the frustrating…
Delaying Social Security? Don’t Neglect Your Savings
Maurie Backman explain the different ages one can take Social Security, from 62 at the earliest, to full retirement age (now 67), to the maximum age 70, or any age in between. Waiting until 70 yields a permanent monthly benefit…
Social Security Survivor Benefits
Jim Blankenship explains in depth a common question among married couples– what happens to my benefit if my spouse dies? A surviving spouse is eligible to begin receiving early benefits at age 60 (rather than 62 for regular or spousal…
Is an Early Retirement Within Reach?
It requires a fair amount of planning, is the caveat that would accompany any desire to retire early. Maurie Backman notes those that save or have consistently saved 20% or more of their income are in a good position. Not…
Social Security Reform Starting to Take Shape
Jessica Hall of MarketWatch combines much reporting this week here on a bipartisan group of senators working to ensure Social Security solvency led by Angus King of Maine and Mitt Romney of Utah. Plans being considered included slowly raising the…
Social Security Here to Stay. But Challenges Persist.
Much recent news of late has discussed the financial troubles of the Social Security program. While they are real, Congress can and likely will fix them, even if just before insolvency hits around 2032. Maurie Backman explains the demographic problem…
5 Social Security Strategies To Secure Retirement
It’s a complicated program for sure, but Robin Hartill focuses here on five partiucular strategies that people need to know. Getting the maximum possible monthly Social Security benefit is what people should strive for. This means working 35 years or…