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Brief History of Social Security
Peter Suciu, a Michigan based writer, contributes an interesting piece here in The National Interest. In August 1935 President Franklin Roosevelt signed the Social Security Act into law. It created a program that would pay monthly benefits to retired workers starting at…
Squeeze an Extra 24% Out of Social Security
Selena Maranjian reminds readers that Social Security is a vital program for older Americans that lifts nearly 10 million people out of poverty and provides 50% or more of retirement income for more than a third of older beneficiaries. There are multiple…
The 5 Biggest Social Security Changes on the Horizon in 2022
Christy Bieber notes that in 2022, Social Security will look different than it does this year. While no change in the law occurred, updates and technical changes due to inflation mean every household needs to be prepared for the changes, as it’s…
Social Security office reopenings bring opportunities and challenges
Mark Miller of Reuters reports Social Security field offices will at last open on January 3, 2022 after a 20 month closure due to the pandemic. A network of more than 1,200 field offices, which provide assistance on retirement and Medicare claims were…
Plan to Claim Social Security at 62 — Even if Hoping to File Later
Maurie Backman states unequivocally that your Social Security filing age could have a huge impact on your financial standing in retirement. Delaying benefits until full retirement age or even age 70 yields the highest monthly permanent payout for the rest of one’s life. …
Patience is key to getting more from Social Security
Maurie Backman reports here how the majority of Americans rush to claim Social Security as soon as they are eligible at age 62. While not a bad choice for all, she explains how that is absolutely not the way to…
These 3 Things Could Mess Up Your Retirement Plans
Could Social Security cuts ruin your retirement plans? It’s possible. But that’s just one of three things that could wreck havoc. Social Security will reach insolvency by 2034 and thus only be able to pay about 76% of promised benefits. Congress…
3 Easy Ways to Avoid Social Security Regrets
Christy Bieber’s piece here explains the importance of making sure you have both supplementary savings and a Social Security benefit that provides as much income as possible. The two together are required to achieve an adequate or better retirement. One key is…
Nearly half of Americans expect to retire in debt
According to a survey by the personal finance site Magnify Money, 46% of all Americans expect to be in the red when they retire. Jessica Dickler of CNBC analyzes what this means in this piece. Americans, of course, are no strangers to debt,…
Generous Social Security Raise? Beware Medicare.
Maurie Backman notes some key points related to what seniors will face come January 2022 regarding Social Security and Medicare. Medicare Part A is free for most enrollees, but Part B comes with monthly premium that aren’t set in stone. In…