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Survey Says: 79% of Americans Agree that a Retirement is At Hand
The National Institute on Retirement Security (NIRS) recently released the results of a survey of working age Americans conducted late last year, revealing that 79% of the more than 1200 respondents aged 25 and older agree with the Chair of…
Here we go again…Government shutdown on the horizon. What about Social Security?
The March 1 deadline for funding legislation would mean a partial shutdown, as explained in a post on the gibsondunn.com website. Following the “laddered” continuing resolution enacted in January, the partial shutdown would affect a limited number of agencies and,…
Approaching Social Security and still confused? You’re not alone!
A recent online quiz offered by MassMutual produced yet another dismal view of how much–or how little–folks aging into Social Security eligibility understand about the basics of this massive program. To be fair, it is not only massive and it…
Understanding Retirement Age and Its Implications for Your Social Security Benefit
Deciding when to claim Social Security benefits is an individual issue, and it depends on some key factors. What’s the best age for one claimant may not be the best age for others, so a complete complement of conditions, like…
Exploring a Myth: Social Security’s COLA is Guaranteed
Let’s start with some background…each year’s cost of living adjustment (COLA) results from comparing the third quarter average Consumer Price Index each year to the same average from the preceding year. The result of dividing the current year’s average by…
A Retrospective of The Need for Social Security Reform Measures
In a post yesterday od Vettafi Advisor Perspectives, content contributor and retired actuary Ken Steiner offers an analysis of what has happened over the past 40 years regarding deterioration of Social Security’s financial situation, and provides conjecture on policy actions…
Understanding Spousal Benefits…And Why They May Not Exist for You.
For married couples looking ahead to retirement finances, the issue of spousal benefits can become a major factor in the planning process. For this reason alone, it’s good to have a clear understanding of how the calculations work and what…
Social Security Insolvency–What If It Actually Happens?
Over the past few years (actually for decades, now), the Social Security trustees have been sounding the alarm on insolvency. Back in 1983, Congress adopted a slate of amendments intended to sustain the program through the mid- 2050’s, although economic…
How Does the U.S. Compare Globally on Retirement Ages?
The standard U.S. full retirement age (FRA), as most people know, was 65 until the steps were taken in 1983 to deal with a funding crisis. The FRA was changed then to a phasing-in schedule for those born in 1938…
Re-thinking Your Initial Claiming Decision–Two Available Options
Claiming Social Security benefits before full retirement age remains statistically more popular and, even more significant, very few new claimants wait to age 70 to obtain maximum monthly payouts. If you are in either of these two categories, it’s important…