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Social Security day of reckoning coming sooner than you think
Vawn Himmelsbach explains the predicament of Social Security insolvency here. How we got to the point of the coming 20% cuts in less than a decade is covered as well as where we can go from here. Some fixes are…
Be Careful About Retiring in Your 30s or 40s
While not that many can afford to or even want to do it, Kailey Hagen writes about retiring in your 30s or 40s. Retiring this young requires a plethora of savings, and many who pursue this wind up forgoing a…
Investing earlier can help avoid retirement worries later
Lorie Konish notes that workers who are about to retire are far behind where they should be. The shift from pensions to 401k plans has put workers in charge of their own retirements. Saving earlier is the key for younger…
Social Security Check Smaller Than Expected? Here’s Maybe Why
People often grumble about the size of their Social Security checks. They think it should be more, or even worse, were told (via the benefit explanation letter) that it would be more. But three factors might explain reduced benefits. Your…
The 5 Types of Social Security Benefits Explained
Kailey Hagen notes most people are aware of Social Security retirement benefits, and chances are that is what they think of when they hear about the program. But there are four other kinds of Social Security benefits, and you could…
The Best Reason to take Social Security Early? Time.
Edd and Cynthia Staton describe their reasons for taking Social Security early in this MarketWatch piece. Time, which is constantly being spent and cannot be saved, is the reason cited for starting benefits at 62. The writers cite the evidence…
Beware: 2025 COLA predicted to be low
We’re seven months away from the 2025 COLA announcement for Social Security, but Keith Speights is offering a glum assessment of what it might be. It will be around 1.75% according to the Senior Citizens League, which is projecting inflation…
Social Security Reform: What’s Holding Up Progress?
By now, most folks following Social Security’s steadily unraveling financial picture are aware that draconian measures are projected in less than a decade if steps aren’t taken to bring the program’s structure in line with 21st-century economics. After all, the…
Retirement planning is not the government’s job–Dave Ramsey
American radio personality Dave Ramsey, in a post on nasdaq.com, presented three common myths that can influence those looking ahead to the financial side of retirement planning. Beginning with the belief that Social Security alone will allow for a comfortable…
“You Earned It, You Keep It Act” would add 30 years to Social Security solvency–FA
In a post today by Tracey Longo on fa-mag.com, the results of Rep. Angie Craig’s (D-MN-2) bill titled the “You Earned It, You Keep It Act” were suggested to push the projected insolvency date for Social Security’s trust funds out…