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The Impact of Illegal Immigrant Amnesty on Social Security and Medicare
The House Judiciary Committee today will be taking up the issue of amnesty for illegal immigrants, a population that includes “essential workers,” holders of Temporary Protected Status (TPS) and Deferred Enforced Departure (DED) status, and so-called “dreamers” who arrived at the age…
Social Security – Beating the Monthly Average
Social Security’s average monthly payout to beneficiaries is, at mid-year in 2021, $1557 per month. By design, the program is structured to provide about 40% of a retirees’ income level prior to retirement, an amount that would likely be insufficient…
401k Plans Do Have Some Downsides
For many folks, the ability to contribute to a 401k plan for retirement savings is a blessing, especially when there’s a generous employer match involved. The ability to defer compensation and avoid current taxation can enable future retirees to accumulate…
Retirement Planning in the Homestretch…Three Important Things You Can Do
The Motley Fool’s Kailey Hagen, in a post on fremonttribune.com, offers some thoughts on a handful of key strategic moves that can be made by those approaching retirement. They might seem basic, but they can help shore up a financial plan for…
Social Security Can Continue to Pay, Even After You Die
Whenever you die, your personal Social Security payment will obviously stop, but that doesn’t mean that all benefits based on your lifetime Social Security record will stop too. If you have a surviving spouse or other dependent(s) collecting benefits from your record,…
About Finding A Solution For Social Security’s Finances
In this refreshingly down-to-earth analysis of Social Security’s current situation, CFP Gary Boatman describes how important the program is to American seniors and how critical it is that Congress fix Social Security’s financial woes as soon as possible. This is…
Social Security’s “Potential Entitlement” Initiative
It’s commonly believed that once you claim your Social Security benefit, the amount you first receive is what you will get forever (except for cost of living adjustments (COLA)). Actually, situations sometimes occur which could mean a higher benefit amount,…
New Legal Resident Status Now Gets You a Social Security Number
In an effort to streamline operations, the Department of Homeland Security’s Citizenship & Immigration Services department has partnered with the Social Security Administration to facilitate acquisition of a Social Security card by those applying for legal U.S. immigrant status. Those…
More About Becoming a Social Security “Representative Payee”
More often than we perhaps realize, Social Security beneficiaries can become incapable of managing their benefit payments as they age. Dementia, Alzheimer’s Disease, and age-related loss of cognitive abilities and mobility often take their toll, leaving those so afflicted unable…
Social Security Benefit Cuts: How Much Would You Lose?
Release of the Trustees annual report on the financial state of Social Security and Medicare has caused quite a stir in investment circles with predictions that a cut to Social Security benefits could be on the horizon sooner than last predicted.…