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The Logic of Claiming Social Security at 67
You can choose to start collecting Social Security at any age between 62 and 70. So many options can cause confusion. Maurie Backman at The Motley Fool makes a good case for taking your benefits at your Full Retirement Age…
If You Claimed Social Security Benefits too early, You Could Consider the “do over” option.
The “do over” option is a little known strategy that allows you to pay back the benefits you have received within one year of starting them and start over again at a later date. It can be helpful for some,…
Does your State Tax Social Security Benefits?
The federal government DOES tax Social Security benefits, but most states do not. Find out which states do and which states don’t here… Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address)…
Social Security rules have been consistent for the last 40 years
If you are new to Social Security the rules can seem complicated and confusing, however, there have been hardly any changes at all since 1983. The basic rules, spouse benefit rules, survivor rules and disability rules are unchanged. So, once…
The 2024 election and entitlements
Do Americans care about Social Security when they vote? Lorie Konish cites a National Institute on Retirement Security finding. The group polled 1,208 people aged 25 and older and found 87% want action to address Social Security’s trust fund shortfall. Also, 69%…
Commentary: Eliminate improper Medicare & Medicaid payments to save Social Security
Thomas M. Cassidy, a former senior investigator for the New York State Attorney General’s Medicaid Fraud Control Unit, suggests better management of Medicare and Medicaid to save Social Security from insolvency and across the board cuts in 2033. He notes…
Beware of Overspending in Early Retirement Years
Jennifer Taylor of Yahoo Finance says to start retirement with a clear knowledge of exactly how much money you have, along with a comprehensive spending plan. She cautions against overly expensive travel and supporting adult children as financial pitfalls. Taylor…
Is eliminating income tax on Soc Sec a good idea?
The idea polls well and has been around for a long time. It is gaining news coverage since Donald Trump floated the idea of removing income tax on benefits altogether. But does taking income tax off Social Security benefits have…
Social Security and alimony
Maurie Backman uses this piece to try to eliminate the confusion of alimony with spousal benefits. One is something you’re required to pay, while the other is something the Social Security Administration is required to pay. A Colorado court ruling…
COLA Watch 2025
Maurie Backman notes the current 2.63% COLA estimate for the cost of living adjustment (COLA) 2025 is higher than previous ones from earlier in 2024. Still, next year’s COLA is shaping up to be considerably smaller than the current year’s. It’s worth…