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Why You May Wind Up Relying More on Social Security in Retirement
Katie Brockman cites a recent report from the Transamerica Center for Retirement Studies showing that U.S. workers as a whole have saved just $50,000 for retirement. Among baby boomers, who are in the midst of retiring, the median worker only has about $144,000 stashed…
The Numbers Don’t Work Relying on Social Security Alone
Experts have been trying to get the message out for decades that it is nearly impossible to live on Social Security alone. Indeed, the program was never even intended as such. It’s supposed to be part of a three-legged stool…
Tap Retirement Savings Or Start Social Security?
For those between 62 and 66 it is an especially tough time if one has suffered financially due to Covid-19. Steve Vernon writing in Forbes argues to leave Social Security and 401k plans/IRAs alone and exhaust every other possible option such…
The Payroll Tax Cut Idea, Again
President Donald Trump has again come out in favor of a payroll tax cut to ” … help the American economy to continue to recover from the shutdown caused by the COVID-19 virus.” And once again, the debate on the wisdom…
Remembering Rep. Sam Johnson
The Heritage Foundation’s Rachel Greszler, research fellow in economics, budget, and entitlements in the Institute for Economic Freedom, offers a fitting tribute to the life and accomplishments of Rep. Sam Johnson, who died of natural causes May 27 at age 89.…
More on the Realities of Our Social Security Situation
In a post today on Newsmax.com, columnist Trevor Gerszt offers thoughts on the truths of Social Security, including a recap of how the program is structured and how its financing has evolved over time. Gerszt also discusses the political situation surrounding Social…
A Second Stimulus Check? Maybe, Maybe not.
The “Heroes Act” is causing a stir these days, as many folks speculate on whether a second round of stimulus payments might be in the offing. But, according to Forbes contributor Zack Friedman, final resolution of the matter will likely not…
Your Retirement Age: What’s Ideal for You?
There’s an early retirement age, a full retirement age, and a deferred retirement age. Deciding which one is appropriate for you can be a mind-boggling exercise. So, what’s an “ideal” retirement age? The Motley Fool’s Katie Brockman discusses the science for…
The Elusive “Retirement Dream”
For many folks, the thought of an eventual, comfortable retirement life has kept them going during those long working years. They have even been steadfast in their financial planning, putting what funds they could aside for those “golden tears.” But…
The Coronavirus Impact on Individuals’ Social Security
As noted in a companion post today, the COVID-19 pandemic is creating a long-term impact on Social Security’s long-term financial picture. Often overlooked in this discussion, though, is the impact on future retirees as a result of time spent off…