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“Clawback” of Social Security Benefits Still a Muddy Picture
The term “clawback” is used to describe how Social Security demands repayment of improperly paid benefits – they “claw back” money already paid out. The term is sometimes used to describe how SS automatically takes back benefits paid for the…
A Little Less Doubt About Social Security
Turns out that the oft-mentioned gloom and doom view of Social Security held by many Americans may be easing a bit, or so the results of a recent Gallup Poll reveal. In this article by Lauren Irwin appearing at The…
Social Security Spousal Benefits – A Primer
Keith Speights notes most Social Security benefits go to retirees receiving a payment based on their own work record. But spouses can qualify too. There are three general eligibility requirements for collecting Social Security spousal benefits: 1.) You must have…
Want a Social Security Boost? Do This.
The literature is replete with how to get a “bonus” out of Social Security or “secret plans” to get extra. All entail waiting until age 70, as delay boosts benefits remarkably. But as Mauire Backman reminds readers, Social Security replaces…
Early retirement surged during Covid. Few of those are going back to work
Paul Davidson of USA Today notes fewer people are mulling a return to the workforce after an early retirement. Why? Retirement balances are stable or going up, inflation is abating, and many just get into a routine of not working…
Encourage People to Wait Longer Before Claiming Social Security
As Lorie Konish notes in this piece, raising the Social Security retirement age is coming up more in more in our political discourse. Most experts tout the benefits of waiting until 70 to file, yet 90% of people claim before…
Can I Get a Social Security Check Right When I Turn 62? No.
Start benefits at 62 and forget about it is the approach a majority of Americans take, though the reality of a check on or near your 62nd birthday is simply not so. How does it work then? If you turn…
When Waiting Until 70 to start Social Security Could Backfire
Delay, delay, delay say nearly all experts. Indeed, the highest permanent payout for life is achieved for those with the patience to wait to file for Social Security until age 70, known as max retirement age. Maurie Backman explains the…
Can You Get Social Security if You Never Worked?
Yes, is the short answer to collecting Social Security, even with no work record. Maurie Backman explains spousal and survivor benefits. These provisions in the law harken back to an earlier time when few women did work outside the home.…
Income Tax on Social Security – more than just the Feds
Paying federal income tax on Social Security benefits is often one of those “are you kidding me?” moments for retirees. The thresholds have not been adjusted for inflation since 1994, though the tax was first implemented in 1983 legislation. Thus,…