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Even Social Security recipients must save; here’s how to invest $100
Social Security replaces just 40 percent of pre-retirement income. If one is planning to live solely on that, it is not possible without very severe struggle. Thus is the reason one must save independently well before then. But even if…
Three Persistent Social Security Myths
Social Security is a complex program with a myriad of rules. But given its importance to the over 63 million collecting monthly benefits, Christy Bieber believes these three myths in particular need debunking. First, the program isn’t going bankrupt. Second,…
Here’s the timeline for Social Security benefit cuts
Social Security’s Board of Trustees report has cautioned every year for the past 35 that there would not be enough revenue collected in payroll taxes over the long run (defined as the 75 years subsequent to the release of a…
Social Security Alone Isn’t Enough Without Retirement Savings
It’s a sad but true fact– households that get the majority of their income from Social Security are much more likely to be poor than those who have ample additional income to supplement it. That is according to a recent study…
7 Social Security Mistakes That Could Cost You a Fortune
Christy Bieber of The Motley Fool notes Social Security is an important lifeline for income during retirement, but the program is complex. These are seven easy to make mistakes that should be avoided: 1. Failing to make sure your earnings…
Social Security under pressure & ageing in America
In this MarketWatch piece by Alessandra Malito, she interviews Max Richtman, president and chief executive officer of the National Committee to Preserve Social Security and Medicare. The discussion includes the challenges of the pandemic as well as unspecified cuts to Social Security…
Waiting for Another Stimulus Check? 5 Things You Should Know
Christy Bieber of The Motley Fool explores where Congress is and where it might go with another stimulus bill, if there ever is one. These are her five main points: 1.) The HEROES Act passed the House but can’t pass…
Are “back to work” stimulus checks in the offing?
Arianne Cohen of Fast Company has a short piece here of an idea that is growing in popularity in Republican circles– back-to-work payment plans, which reward returns to the workforce with cash. She explains Idaho’s program. Sen. Bob Portman (R-OH) and Rep. Kevin…
Stimulus II: Who’d qualify for some money, if anyone?
Discussions are happening in Washington about what the federal government should do, if anything at all, to keep the economic recovery going in this time of pandemic, particularly when a number of provisions from enhanced unemployment benefits and foreclosure stop orders are due…
The “Mom Gap” in Social Security Explained
Author Marcia Mantell, founder of Mantell Retirement Consulting, believes age 22 is the time for folks, especially women, to be educated about Social Security, not in their 50s and 60s. Why? Many young women will start thinking about motherhood in their…