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Retirement Savings: A Look at What’s Hindering Nest Eggs
In the short term, man folks nearing retirement can point to the economic devastation wreaked by the COVID-19 pandemic as a reason why they can’t afford to save for retirement. But there are other factors that have led to situation…
Retirement by the Numbers
Let’s face it, retirement can be a scary time, and the planning for it can be a daunting process for many of us. You’ve probably seen many situations where folks are struggling, and you’ve probably heard stories of how much (in…
A Quick Primer on Medicare’s Key Sign-up Dates
For those aging into Medicare eligibility, the question of when to file can become just a little confusing. This is especially so if you are not employed with health care coverage and you are electing to defer your Social Security benefits.…
Tackling the Myth of Undocumented Workers Eroding Social Security
One of the more persistent complaints we deal with in the AMAC Foundation’s Social Security Advisory Service is that one of the contributors to the program’s long-term financial woes is the belief that undocumented migrant workers are drawing benefits without…
Social Security COLA Forecasts: Looks Like a Slight Adjustment
We’re getting near the end of the third quarter, and those who watch Social Security’s financial mechanics know that that’s the point at which the comparison to the previous year’s third-quarter CPI-W numbers yield cost-of-living adjustment for benefits for the…
Trump’s 3 Most Ridiculous Social Security Ideas
Sean Williams of The Motley Fool takes issue with three proposals put forward by the President on Social Security. He admits the President has avoided directly changing the program in his first term. But Williams dislikes the payroll tax elimination. …
422 Stocks to Supplement Your Social Security Income
Many seniors get skittish about investing in stocks in retirement, but the truth is Social Security replaces just 40% of pre-retirement income. Pensions have become largely obsolete. With savings accounts and CDs paying near 0%, Selena Maranjian explains the importance…
Plan to Claim Social Security at 62 Even If You Don’t End Up Doing So
Age 62 is the most popular age to take Social Security, even if doing so means a permanent reduction in benefits for life. But Maurie Backman explain why one should PLAN to take benefits then, but then wait if able to…
Payroll Tax Deferral Explained– it’s like a loan
Maurie Backman explains President Trump’ executive order calling for a payroll tax deferral from September – December 2020 for workers earning up to $104,000 per year. During this time, the 6.2% payroll tax normally deducted to fund Social Security won’t be applied to…
Why Don’t The Bidens Get a Larger Social Security Benefit?
You might think Joe Biden and his wife are really raking it in with Social Security. After all, they’ve been very high income earners all their lives. Not so. Social Security is structured so it can’t pay out sky-high benefits,…