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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…
Newly Divorced? What You Need to Know About Social Security
With divorce being as common as effecting 50% of the population according to most statistics, Social Security benefits may not be top of mind but perhaps should be. Kailey Hagen covers three areas in this piece as follows: 1. You…
Social Security and Debt Default– Here’s What to Know
The United States has never defaulted on its debt. But, the U.S. government has hit the top threshold called the debt ceiling that Congress has set. Of course all Congress has to do is raise it again, as it has…
Often Overlooked: Medicare Insolvency
With most media reports focusing on Social Security’s financial issues expected to hit in the mid-2030s, an equally troubling financial problem is often overlooked – Medicare’s Trust Fund for hospitalization coverage is projected to run dry in 2028, a scant…
Call Social Security? Or Call the AMAC Foundation’s Social Security Advisory Service?
This CNET article by Nina Raemont encourages those with questions about their Social Security benefits to call the Social Security Administration for answers. That’s decent advice, but may not be a panacea which gets all your Social Security questions answered.…