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A COVID-19 Recession? Here’s How You Might React
No question that the COVID-19 pandemic has hit the American economy hard – so hard that some say we are already in a recession. And, of course, a recession can cause a great deal of anxiety and financial stress for…
Reminder: Required Minimum Distributions (RMDs) Waived for 2020
The IRS has reminded seniors and retirees over 70 that, because of the pandemic, the need to take a Required Minimum Distribution (RMD) is waived for calendar year 2020. That means that those who would normally need to withdraw money from…
Test Your Social Security Knowledge
With a program as vast and complex as Social Security, it should come as no surprise that there are many myths and misconceptions about benefits, especially those which are unique and apply only in specific circumstances. But studies have shown…
Turning 60 this year? The Pandemic May Hurt Your Social Security
It’s an issue which has been circulating for several months now, but those who reach 60 this year – the “year of the pandemic” – will be uniquely impacted when they later claim their Social Security benefits. That’s because of the way benefits…
The Effect of the Pandemic on Social Security
The COVID-19 pandemic has shut down the American economy and cast millions of workers into unemployment, shuttered entire businesses which previously prospered, and changed many aspects of our lives in so many ways. But while the current economic impact and personal discomfort…
About Social Security’s Future
Although many naysayers claim that Social Security will be going bankrupt, that is simply not true. For as long as there are Americans working, Social Security will be paying benefits. But, as the Trustees of Social Security have been warning…
Social Security for Federal Employees
Here at The AMAC Foundation, we hear almost daily from Federal retirees who are angry than their Social Security benefits are reduced because of their Federal pension. Truth is, that applies to some Federal employees but not all (it also…
During the Pandemic, Don’t Be Stung by These Social Security Myths
Myths about Social Security abound everywhere, on social media and in the minds of those who love to dramatize bad news which seems like it might be plausible. But during times of crisis, such as the COVID-19 pandemic, it’s especially…
Preparing for retirement can make a huge difference in your quality of life
Retirement is a goal that is shared by virtually everyone who has ever had a job; however, the uncertainty caused by the pandemic has compounded the issue, particularly for those at or near retirement. But the preparations of a successful…
The drawbacks, risks and rewards of delaying your retirement
According to recent survey by the nonprofit organization Life Happens, it found many older adults are being forced to rethink their retirement plans thanks to the pandemic, with 43 percent of Americans saying they plan to postpone and continue to…