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Counterpoint: The Importance of Maximizing Your Social Security Benefit
As a counterpoint to another article herein, this article by certified financial planner Gary Boatman suggests that maximizing your Social Security benefit by waiting longer to claim is an important consideration. The article discusses how claiming age affects Social Security…
Waiting Until Age 70 to Claim Social Security May Not Be Best for You.
We strive, here at the AMAC Foundation, make sure everyone knows their Social Security benefit keeps growing until they are 70 years of age and, if all factors are right, waiting until age 70 will give yield not only the…
Surprise! Your Social Security check won’t be as big as you think.
It’s an unfortunate reality for so many Americans – when they finally claim their Social Security benefits, the payment amount is lower, often much lower, than they though it would be. Much of that can be blamed on lack of…
Federal Tax on Your Social Security Benefits
This timely McDowell News article by Maurie Backman discusses how your Social Security benefits may be taxed by the Federal Government, if your “provisional income” is more than a certain threshold. The thresholds at which your Social Security benefits become…
Taxes, Taxes, Taxes!
Ever the hot-button topic, it seems that taxes are unavoidable, no matter where you live. Even Social Security income isn’t completely exempt from being taxed by the Federal Government, but the tax rules in each of the 50 United States…
Did You Get Your COLA increase? Here’s why you may not.
There has been a lot of talk about the historically high Cost of Living Adjustment (COLA) Social Security beneficiaries will receive this year. Certainly less talked about is that some beneficiaries won’t see all of that COLA increase in their…
How “Disability” is Defined by Social Security
The Social Security Administration processes nearly 2 million disability applications every year, but only about 35% of those applications are actually awarded disability benefits – a pretty staggering statistic, especially if you’re thinking about applying for SS Disability because you…
Working After Age 62, and How It Affects Your Social Security
For many Americans, working past age 62 has become normal, especially with soaring inflation and steadily improving healthcare services. Of course, age 62 is also the age at which each worker becomes eligible for Social Security benefits, so it’s important…
Your Full Retirement Age, And How It Affects Your Social Security Benefit
Your Social Security “full retirement age” (or “FRA” as it is affectionately known) plays a big part in how much your monthly benefit will be when you claim Social Security. No longer age 65 for everyone (as it was for…
Retirement Evolves in Phases
What does “retirement” mean to you? If your view of retirement is simply that you stop working and have a lot of extra time to do things you’ve previously put off doing, it may be time for you to take…