Latest News
Covid still delays Social Security benefit applications and new cards
Laurie Konish of CNBC cites a new report from the Social Security Office of the Inspector General which finds that the agency is still behind with regard to processing some mailed applications and requests for Social Security cards. Offices shuttered in March 2020, but unprocessed…
Retiring on $18k a year? That’s all the average retiree gets
Social Security was never meant as a sole source of income for a fruitful retirement. Christy Bieber reports that the average Social Security benefit is just $1,507 per month, or $18,084 per year. Bieber notes Social Security shouldn’t be your…
What’s the Highest Social Security Benefit One Could get?
Maurie Backman notes that if you’re filing for Social Security in 2021, the maximum benefit you can collect is $3,895 a month, which is $46,740 in annual income. This would make for a fairly comfortable lifestyle, if only most could get that sum. …
Act as if Social Security is Running Out of Money
Maurie Backman explains that in a literal sense Social Security is not running out of money. That is, it is false to say that benefits will end some day soon. But, it is true, that benefits will be slashed across the…
3 Ways to Supplement Social Security in Retirement
Diane Mtetwa reminds folks that Social Security replaces barley 40% of pre-retirement income. To avoid living on such a strict fixed income, she notes three ways people can supplement their Social Security payment in retirement. They are: 1. Work part-time or contractually; 2. Save…
Social Security: Insurance or investment?
Both, and it depends are the answers to whether Social Security is an insurance plan or an investment. Mike Causey, a senior correspondent for Federal News Network, looks at the issue here. In a nutshell, those who like to delay as…
3 Social Security Facts That Might Surprise You
Christy Bieber notes that it’s important to comprehend some basic facts about Social Security but to also realize the program’s limitations. Specifically she emphasizes these three key points: 1. Full retirement age is no longer 65; 2. Some of your benefits could…
The Social Security Trap You Can’t Afford to Fall Into
Misinformation and misunderstandings can cost you dearly when it comes to claiming Social Security benefits according to Maurie Backman. Claim at 62 and forget about it seems to be the mantra. But the author points out one must understand their…
Don’t Claim Social Security If You Can’t Answer These 4 Questions
It’s a decision most of us will have to face eventually– when to start Social Security benefits. Christy Bieber notes once you make that choice, you have few options for a do-over, and you could affect the amount of income…
Claiming benefits at age 62 is tempting. Don’t.
The earliest age you can sign up for Social Security is 62, and it is also the most popular age to file. But Maurie Backman explains that is likely a mistake for most to do so before full retirement age (FRA), including…