Latest News
Delay taking Social Security until age 70? No thanks says author.
While the consensus view is wait as long as possible, even to age 70, to start Social Security benefits, Juan Fourneau of MarketWatch proudly advocates for the contrarian view. He notes he never got to meet his grandparents because they died…
Pandemic Speeds up Retirement for Many
According to The New School’s Schwartz Center for Economic Policy Analysis, nearly 2 million more people than expected have joined the ranks of the retired in the Covid-19 pandemic. Andrea Hsu of NPR profiles two workers in this piece. Hsu notes…
Relying too heavily on Social Security could come back to haunt you
Maurie Backman stresses that amassing a large savings account is the best way to stave off financial difficulty in retirement. She provides detail on these three harsh realities of the program: 1. Those benefits won’t come close to replacing your former…
Investing, 401k plans, company matches, and more
With Social Security replacing a mere 40% of pre-retirement earnings, retirement income simply must come from someplace else. But where? The 3-6 month emergency savings rule is well known, but what about 401k plans and individual retirement accounts (IRAs)? Elizabeth…
Boost Your Social Security Checks by 5-8% in 12 Months
A $1,500 monthly Social Security benefit at 62, would be $2,657 per month by delaying benefits until 70, if your full retirement age is 67. That’s over $1,000 more per check. Kailey Hagen stresses the importance of delaying your initial claim date…
What Happens to Social Security When You Die?
Vance Cariaga of Yahoo Finance provides quite a bit of interesting insight to the question about benefits after one dies. After a death the funeral home usually sends in a form to the Social Security Administration (SSA) called Statement of Death…
Claimed Benefits Too Early? You Have Options
If you signed up for Social Security benefits at age 62, the earliest possible claim date, you receive reduced benefits for life. If you regret that decision, you may be able to take it back. You can change your mind…
House Bill Recommends Eliminating the Taxable Wage Ceiling
A bill introduced this week in the 117thCongress by Rep. Gwen Moore, D-Wis calls for expansion of benefits in several key areas, while eliminating the taxable wage cap and increasing the payroll tax from 6.2% to 6.5% over a six-year period.…
Exploring the Social Security Earnings Test
In a post on AEI.org, Sita Nataraj Slavov (Nonresident Senior Fellow) and Alan D. Viard (Senior Fellow) take a detailed look at Social Security’s often misunderstood Earnings Test…that set of rules that govern how much workers who draw Social Security benefits before their full…
10 Ways to Protect Your Personal Information
Source: Social Security Administration Fraudsters don’t go on vacation—so it’s necessary for you and your loved ones to stay vigilant year round. Identity theft affects millions of people each year and can cause serious financial and identity-related issues. Protect yourself…