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Before you begin claiming Social Security be sure you’re aware of these issues
Transamerica Center for Retirement Studies is reporting that approximately 37 percent of baby boomers say they expect Social Security to be their primary source of income in retirement. If your retirement plans rely solely on Social Security, make sure you…
Mary Beth Franklin: Pandemic and Retirement Concerns
The COVID-19 pandemic has created a wide swath of havoc worldwide. That’s, of course, and understatement, but one of the examples of this havoc is the growing concern among seniors about the impact of Social Security’s financing. InvestmentNews Contributing Editor Mary Beth…
Election Watch: Candidate Biden’s Social Security Thoughts
The clock is running, and we’re now less than 100 days away from the November election. And during the run-up to November 3, you’ll be hearing a variety of viewpoints and promises about Social Security (among other things). Here, in a…
Navigating the Prevailing Retirement Uncertainty
Here’s a blunt statement: Nobody knows what’s going to happen to the U.S. economy as the COVID-19 pandemic stampedes through the country. In fact, the absolute uncertainty we’re seeing brings to mind the 2002 Department of Defense news briefing comments by United…
Bull Market, Bear Market…Who Knows? Social Security Can Help You Manage.
History tells us that “bear markets” are a reality in the financial world, but who knows when or how abruptly a shift from upward market trends to a downturn will occur? Over the long haul, investors have come to expect…
A Look at Some Social Security Nomenclature
Like any other functioning system, Social Security is loaded with acronyms and terminology that can often be confusing. So, to help out a bit in this area, patch.com Community Contributor Delia De Mello has posted an article on their website explaining…
Questioning the 4% Rule of Thumb
For many years, the standard guidance for drawing down deferred compensation balances (IRSs, 401Ks, etc.) was to start with a 4% assumption and adjust it as needed to account for inflation. Lately, though, given economic circumstances, paltry interest rates, and…
More on Coronavirus and Social Security–What Seniors are Worried About
For folks thinking about retirement finances, Social Security’s solvency has emerged as a serious concern. A Harris Poll conducted on behalf of The Nationwide Retirement Institute reports that “(a)bout 61 percent of people said they were more worried than before about the…
COVID-19 and the Impact on Social Security Benefits
As if the pandemic itself wasn’t bad enough, the impact on the workforce component of the U.S. economy is shaping up to be characterized by potentially severe long-term implications on future retiree benefits. For example, workforce absences induced by COVID-19 will…
A Retrospective on Social Security’s History
Delia De Mello, Community Contributor at patch.com, provides an overview in this post of the positive benefits and services the Social Security program has provided in its almost 85 years. From service to wounded warriors to the economic security provided to…