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An analysis of two approaches to reforming Social Security
Monique Morrissey, writing in The Philadelphia Tribune, explains some details of and analyzes Rep. John Larson’s Social Security 2100 Act as well as Sen. Elizabeth Warren’s plan to reform Social Security. Both plans are progressive in nature, and the author clearly likes…
Beyond just the 1.6% Social Security raise
David Rae, writing in Forbes Magazine, explains how the 1.6% cost of living adjustment was derived by the Social Security Administration two weeks ago and what it means to the average recipient. Rae cites data from the Labor Department, showing the…
Will you get what Social Security promises?
Liz Weston of The Chicago Tribune explains how people can access information on what they can expect to receive in future Social Security benefits. But there are imperfections with Social Security projecting what one’s benefit will be years from now. Weston notes…
Earn More in 2020 and Keep Your Social Security Benefits
The most common age for people to claim Social Security retirement benefits is 62. Many of these folks still keep their jobs and decide to supplement their income by claiming their Social Security. While you don’t have to stop working to…
Stash cash in right place when saving for retirement
It’s sad that so few people know that Social Security only replaces about 40% of pre-retirement income. That makes saving for retirement so much more important. But cash that is stashed in low yield accounts will not generate significant wealth. Maurie…
Turning 62 in 2020? Social Security Will Pay You Less.
In 1983 Congress and President Reagan agreed to changes to make Social Security solvent for the longer term. One change that did achieve this end was increasing the full retirement age from 65 to 67 in two month increments over…
Social Security & The Restricted Application
Tom Hager, writing in Forbes, provides a primer on Social Security’s restricted application. Its purpose has always been to allow a qualifying spouse to collect spousal benefits only, while deferring their own worker benefit up to age 70 if they wish, thus…
Medicare and Age 65…There Are Many Key Questions to Consider
Reaching age 65 brings with it the opportunity to enroll in Medicare, but it;s not always a simple process to decide how best to handle that enrollment. In a post on www.miamiherald.com, Miami Herald contributor Kathryn W. Foster takes a…
“Longevity Risk” and the Social Security Model
In a post titled “The downside to living longer: Running out of money,” Yahoo Finance Senior Writer Ethan Wolff-Mann examines how today’s–and tomorrow’s–extended life expectancies have complicated retirement financial planning. Whether it’s the impact on pension plans or individual savings, it’s…
Strategies for Managing Spending in Retirement
Joel Hardin, a Senior Partner and co-founding member of City Center Financial LLC, focuses on “income planning” in a post on www.kiplinger.com. His methodology involves determining expenses first, then assessing income streams that will support these expenses. One of the most important…