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Offset COVID-19 By Delaying Your Social Security Claim
There are few Americans who haven’t been affected by the COVID-19 coronavirus pandemic. For some, that may be simple inconvenience, while for others it has meant a severe financial impact through job loss and, perhaps, depleted retirement savings. But one…
Widows and Widowers: Are You Getting Your Survivor Benefit?
In a stunning report by Social Security’s Inspector General, many seniors who are eligible for a survivor benefit aren’t receiving it, collectively resulting in millions of dollars in lost benefits. The Inspector General’s report, as revealed in this Motley Fool…
Some Tips for Boosting Your Retirement Savings
Social Security was never intended to be your sole source of retirement income and, with defined benefit pensions plans a disappearing source, Americans must lean heavily on their savings – their retirement “nest egg” – for additional income to supplement…
Should You Claim Social Security During the Pandemic?
The COVID-19 pandemic has put the country into a severe economic downturn, which may very well have affected you financially. But if you find yourself in a position of needing to decide whether to claim your Social Security now, there…
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…