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Delaying Social Security Can Sometimes Cost You
it’s a common refrain from financial experts– delay Social Security, until age 70 if possible. The strategy makes sense for most, but not all, as Christy Bieber covers in this piece. Spousal benefits do not increase beyond full retirement age.…
Can Benefit Cuts be Prevented?
It’s up to lawmakers to keep Social Security whole. But it appears to be “crickets” from political leaders when it comes to staving off the 25% benefits cuts that are coming for all in about a decade. Why? Maurie Backman…
Why You Shouldn’t Count on Social Security
The “Don’t Count on it” is a tough message, and Chuck Saletta explains why in this piece. He notes the insolvency predicted in 2034-35 and corresponding benefit cuts expected of around 25%. But he digs deeper to explain that Social…
Claiming Social Security Early Could Bring Regret
Claim at age 62 and forget about it. That’s what most people do with Social Security, though that entails up to a 30% cut in benefits for life. Do people know that? It’s not fully clear. Dan Caplinger explains the…
How to Score a Juicier Monthly Social Security Check
For many, the amount of their monthly Social Security benefit is shrouded in mystery. But it need not be. Benefits are calculated based on one’s highest 35 years of employment. So to score a higher check, be sure to work…
Another View of “Average” Social Security Benefits
Most articles on the distribution of Social Security benefits portray the average monthly benefit amount paid to all recipients, but here’s another view on the average. In April of this year, SSA reports that the average monthly benefit payment paid…
An In-depth Assessment of the Health of Social Security and Medicare Finances
In a post by Reuters columnist Mark Miller appearing on Morningstar, the recent short-term improvements to the cash reserves of both Social Security and Medicare are analyzed. Describing the impending trust fund depletion dates for both–2035 for Social Security (OASDI),…
Test Time: Another Basic Social Security IQ Exam!
Yesterday, we posted a very basic set of questions provided by GoBankingRates.com. Today, we’re taking it a step further with a set of 13 questions that may tax your basic knowledge about the program a bit. In fact, as CNBC.com’s…
Survivor Benefits: Some Basic Things to Know
The rules and provisions associated with the payment of Social Security benefits to a worker’s survivors is one of the most frequently addressed matters at the AMAC Foundation Social Security Advisory Service. In fact, that area accounts for about 15%…
For Some, A Partial Retirement Might Be the Answer
Going headfirst into full retirement mode after a long working career can be doable for some, but not for all. It’s an abrupt change, and for many folks, the sheer shock of so dramatically changing a life flow can causes…