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Clarifying the DNC Comments on Social Security
The 2020 Democratic National Convention is in the books, and as anticipated, Social Security received some attention from the event’s speakers. In a post on the New York Times website, their fact-check reporter Linda Qiu takes a look at Social Security-related…
Ending Payroll Tax Endangers Social Security’s Finances
Sean Williams of The Motley Fool minces no words by saying President Trump’s suggestion to end the payroll tax would kill Social Security. He does acknowledge that only Congress could do that, and it’s a foregone conclusion they never would…
Are You Overestimating Your Future Social Security Benefits?
Kailey Hagen cites a recent Nationwide survey that found adults age 50+ expected to receive $1,572 per month in Social Security benefits after retiring. But the reality is it will be more like $1,380 per month. Few realize income is only about…
Biden & Trump trade accusations on Soc Sec cuts; who’s right?
Holmes Lybrand of CNN tries to get at the accusations that Donald Trump and Joe Biden are leveling at each other about Social Security cuts. As always, context is needed. He notes Joe Biden has supported many proposals to try…
A 5% Soc Sec increase with a Biden presidency?
For some, they could indeed see a 5% boost to their Social Security monthly benefits. But it’s not guaranteed, and it would likely not be anywhere near that percentage to start. Congress would have to approve any benefit changes in…
Can I Get Money From My 401(k) at 55?
Yes, yes, yes is the answer to can you get penalty free access to 401k funds before the well known age of 59 1/2, where the penalty no longer applies. But, as Christy Bieber notes in this piece, it’s a narrow…
Does Social Security still mail out checks?
With all the uproar over slowing mail service in this country, who is right in the “Social Security recipients no longer get their checks by mail.” Well, a tiny fraction actually still do, and Daniel Dale of CNN explains as…
2 High-Risk Social Security Strategies For Tough Times
Covid-19 is creating financial problems and angst for many, but Christy Bieber points out in this piece that there are some unique options to consider. You don’t have to just give up and accept permanent lower Social Security benefits if…
Joe Biden & Social Security
Neither of the major party candidates talks about Social Security changes often, even though the program is barreling toward insolvency in less than a decade, a situation made worse by the pandemic. Still, Biden has out forth some proposals to…
Is payroll tax deferment a blow to Social Security?
Maurie Backman takes issue with President Trump’s executive order on payroll tax deferment. As she notes, the deferment is not so much a problem, as the taxes will be collected, just later in the year. She states, “The problem, however,…