Latest News
“Cautious Optimism” about Social Security’s Future?
If you read these pages regularly, you know that Social Security will soon have financial difficulties which, if left unresolved by Congress, will result in a cut to everyone’s monthly Social Security payment starting in about the fall of 2032.…
The maximum Social Security benefit in 2026 is $5,181, though few individuals qualify for this amount.
Many people incorrectly believe Social Security benefits are based on your highest three or ten years of earnings. For 2026, you must earn at least $1,890 per quarter to receive credit for a quarter, up to four quarters per year,…
Another Idea to Help Keep Social Security Solvent
With Social Security projected to become insolvent by 2032, several solutions are under consideration. Kathryn Anne Edward proposes that employers pay taxes on subcontractors’ earnings. For instance, if an employer issues a 1099 for $100,000, they would pay a 6.2%…
One of the “Wackiest” Social Security Rumors Ever
Tom Margeneau, a retired Social Security Administration (SSA) employee, regularly shares engaging stories. In his latest article, he addresses a Social Security rumor I had not encountered before. I agree with his assessment that this is among the most unusual…
If You Think Your Social Security Benefits Can’t Be Garnished, You Are Mistaken
Private debtors are allowed to touch your Social Security benefits. Only the Federal Government can. The “can’t leave you with less than $750 isn’t always true; they can leave you with a lot less in certain instances. Your Social…
How Working at Seventy and Beyond Affects Your Social Security
People often ask whether continuing to work beyond age 70 will increase my Social Security benefit. The correct answer is that it depends on your previous earnings. Your Social Security benefit is based on your highest 35 years of earnings,…
Is a High Cost of Living Increase for Social Security Recipients Actually a Good Thing?
Seniors anxiously await the announcement of the cost-of-living increase (COLA) each year. But the truth behind COLAs is that inflation is increasing. Social Security COLA increases were not always automatic. Before 1975, Congress had to pass legislation to raise benefits,…
More and More Americans Are Relying Heavily on Social Security For Their Retirement Income
Social Security was created in 1935 to keep older people out of poverty when they could no longer work, but it was never meant to be your only source of retirement income. Currently, the average monthly Social Security income is…
The One Suggestion to Keep Social Security Solvent Most Americans Are Against
Social Security has faced insolvency before, and once again Congress will have to make some difficult decisions to keep it solvent and avoid a 22% cut to all Social Security recipients as early as 2032. The Trust Fund consists of…
Surviving Spouses Have Options For When to Claim Their Survivor Benefits
A surviving spouse becomes eligible to claim their Survivor benefits at age 60 (50 if disabled), when they would receive only 71.5% of their deceased spouse’s benefit. An ex-spouse may also be eligible for a survivor benefit if they meet…