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Costly Social Security Mistakes That Hurt You
Far too many people approach Social Security with a somewhat “lassez faire” attitude which causes them to make a mistake that can cost them thousands of dollars over a lifetime of collecting. From claiming benefits too early for one’s circumstances, to…
Some Tips on Retirement Planning
Planning for your retirement is often a confusing exercise; after all, who can accurately predict what their needs will be in their so-called “golden years?” But, by following a few simple guidelines as presented in this Arizona Republic (AZCentral) article…
Want a bigger Social Security check? Here’s how to get it
Of course, everyone wants as big a Social Security check as they can get, and planning ahead – before you start collecting benefits – is the sensible way to achieve it. Once you claim your benefits there is little you…
Collecting SS and still working? Your current earnings may, or may not, increase your benefit amount.
Here at the AMAC Foundation, we hear regularly from seniors who are collecting Social Security benefits and who are also still working, wondering if working now will cause their Social Security benefit to increase. As we’ve written about many times…
Non-Partisan GAO warns Social Security & Medicare not sustainable
The non-partisan government watchdog agency, U.S. Government Accountability Office (GAO), released a report this week requested by Senator Mike Enzi (R-WY), Chairman of the Budget Committee, and Senator Mike Braun (R-IN) warning Social Security and Medicare, among other trust funds…
Trump Will Pay This Much Into Social Security in 2020
Sean Williams reports January 2020 as being the 80th anniversary of the first check being received by a Social Security recipient. His article here focuses on the tax cap on wages. Payroll taxes are withheld from the first $137,700 of…
How about the 2021 COLA?
Maurie Backman notes how many Social Security recipients were less than thrilled to receive a paltry 1.6% cost of living adjustment this past January 1st. Medicare premium further increased reduced the average $24 increase by a third. Early estimates from…
How to Get the Maximum Social Security Benefit
Todd Campbell explains why so few people collect $3,790 per month, the maximum Social Security retirement benefit one can collect in 2020. In short, one would have had to earn the maximum in wages every year for 35 years of one’s…
The most popular ages to collect Social Security
It’s widely know you can claim Social Security as early as age 62. This interesting piece in U.S. News explains not only what claiming Social Security benefits at each age 62 through 70 means for the actual calculation, but it…
No pension; no savings; now what?
In today’s world, “it’s all incumbent on employees to to take care of their own retirement,” says John Laitner, a University of Michigan economics professor who also heads U-M’s Retirement Research Center. ” We’re in a period of transition” in…