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How much will your Social Security benefits be?
CNBC is out with a brief introduction here and then a great three minute video that explains just what you can expect to get in Social Security benefits based on what you now make. The current average monthly benefit is about…
What Happens to Social Security When You Die?
Social Security is the most important program for America’s seniors. yet it can be complicated to understand. Vance Cariaga tackles the issue of death and what happens next to one’s benefits. As she explains, payments simply cease on death. Funeral homes…
Trustees Report 2021 is complicated, but bottom line is clear
It’s the annual and always much anticipated health report and projection for Social Security. Well, it came out this month, and the news is predictably not especially good long term for the nation’s most important social safety net. This MarketWatch op-ed by Alicia…
Consider Claiming Social Security at 62 When Planning
It’s the most common age people begin benefits– 62. Most experts suggest not doing it though, as waiting yields higher benefits for each month delayed, all the way to age 70. But Christy Bieber has a different take in this…
A fourth stimulus for seniors?
While no one should hold their breath for any more stimulus from Congress, the nonpartisan Senior Citizens League believes one is necessary. Inflation has indeed accelerated, with steep prices increases for gas, food, cars and other necessities in 2021. It is…
Is Social Security Going Bust?
Social Security’s demise is often written about, but the story is not quite as many think it is. True, its financial troubles are real, but perspective is needed. Maurie Backman covers that in this piece, noting that payroll taxes are declining…
3 Popular Ways to Maximize Your Social Security Benefit
A common question many folks ask is they can maximize their Social Security retirement benefits. Of course the best time to ask that question is before starting benefits. To that end, Kailey Hagen suggest three strategies. They are first, work for…
Delaying RMDs: Is it a Good Thing or a Bad Thing?
Legislation is winding its way through congress (see The Setting Every Community Up for Retirement Enhancement Act of 2019 and the Securing a Strong Retirement Act) that could allow for delaying those Required Minimum Distributions (RMDs) from deferred compensation plans to age 73 and eventually…
An Argument for NOT Waiting to Age 70 to File for Benefits
Conventional wisdom is to hold off on filing for Social Security benefits until the end of the delayed retirement credit window–age 70–to get the highest monthly benefit. The basic math is sound, and that’s why on the surface it’s the…
Dispelling Social Security’s “bankruptcy” Myth
Despite what you may have heard, Social Security is not going to disappearing on you, and it will be there when you arrive at your retirement destination. Yes, there are financial bumps in the road ahead and, yes, there’s the…