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Savings Account Rates Are Higher. Should you still delay Social Security?
Maurie Backman takes on the common question many mature Americans are asking. Interest rates are now over 4% for savings accounts at some on-line banks. So is it better to grab Social Security early and save/invest the funds or still…
Social Security and the Gig Economy
Side hustles are becoming ever more popular, as in renting out a space or driving for Uber or Lyft. Even a consulting gig has the potential to boost one’s income. Maurie Backman writes about a Zapier report from June 2022…
Social Security’s Max Benefit Tough to Get
Robin Hartill explains the maximum Social Security monthly benefit for 2023 is $4,555. But just a tiny fraction of people will get this amount. In fact, just 10% of Social Security checks exceed even $2,600. To get the max, one…
Boost Your Social Security Check By Almost $2,000 per month
There’s no shortage of folks out there who hawk magic tricks or secret plans to get more Social Security. Many want you to pay for the advice. But it all comes down to waiting until age 70 to start benefits.…
Retire at Age 70 or Older. Why That’s a Good Idea
While a majority of American still claim Social Security at age 62, waiting until the maximum retirement age of 70 yields the highest possible monthly check for the rest of one’s life. Maurie Backman cites a recent Transamerica survey that notes…
4 Life-Changing Facts About Social Security Benefits
Trevor Jennewine explains that the vast majority of retired workers depend on Social Security benefits, but many are misinformed about aspects of the program. Common misconceptions involve early retirement penalties, the amount of income provided by Social Security, and the…
A Bad Choice Could Cost You 30% of Your Social Security Benefits
Claim it at age 62 and forget about it is what a majority of American do, but it’s a very costly decision according to Maurie Backman. Full retirement age is 67 for those born in 1960 or later. Starting Social…
Would Taxing the Rich More Solve Social Security’s Woes? No.
Democrats routinely introduce bills to increase taxes on the wealthy, mainly by increasing the amount of income subject to the combined 12.4% payroll tax. For 2023 the first $160,200 is subject to tax. Various proposals would change that to the…
Why Some Say It’s Best Not to Count on Social Security
Chuck Saletta explains the ‘pay as you go’ nature of Social Security. That of course is the very problem it faces financially, as there are increasingly too few workers to cover promised benefits for people living and collecting much longer.…
Social Security’s Worsening Immigration Problem
Put immigration and Social Security in the same sentence and most people would say something like, “If it weren’t for all the illegals collecting Social Security, there wouldn’t be any problem.” But, alas, illegal aliens cannot collect that benefit. Sean…