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How does Social Security work in other countries?
The United States is not alone when it comes to having a Social Security program to protect it’s senior citizens from poverty in their old age. Most developed countries have such a program, and those foreign programs are sometimes touted…
How to spot a phone scam call
Every month, the FTC (Federal Trade Commission) receives about half a million complaints about unwanted calls, underlining how pervasive the whole phone scam problem has become. But, how do you know if a call is a scam when the caller…
Key facts about Social Security’s future
Considering the major role that Social Security plays in the retirement plans of most Americans, it’s remarkable how poorly understood the program is. And sadly, that misunderstanding gives birth to some myths about the program, especially when it comes to…
Politicians need to “get real” about Social Security reform
It’s surely no secret that Social Security is headed for financial problems for which Congressional action is needed. But the Social Security 2100 Act recently put forward in Congress is, in the opinion of many, a lot of icing without…
Misunderstanding Social Security can be very costly
It’s a pretty well established fact that most retirees count on Social Security as a major portion of their retirement income. Though the program was designed to replace about 40% of one’s pre-retirement income, about half of all current single…
Social Security’s terminology – A language of its own.
If you’ve every had a conversation about Social Security, it has probably been full of confusing terms and acronyms which the speaker seems to know well, but sounds like a foreign language to those who don’t deal with this terminology…
Here’s how to change your Social Security direct deposit instructions
With very few exceptions, all Social Security benefits are now paid via direct deposit into your personal account at your financial institution. For many, once that direct deposit is set up, it stays the same for a long time. But…
Worried about your Social Security? Take control of your savings!
A recent nationwide survey revealed that about 59% of future retirees are worried that Social Security won’t be able to pay it’s future benefit obligations. That concern is well-founded, given the fact that starting next year, Social Security’s income will…
Do you know how much you should be saving?
Saving consistently and sufficiently is one of the building blocks of not a healthy retirement but a healthy financial life. Most experts recommend saving at least 20 percent of your gross income each year. But how do you know if…
What are the retirement savings options for the self-employed?
According to a study from The Pew Charitable Trusts, only 13 percent of self-employed people who run a single-person business participate in a workplace retirement plan. So, if you’re your own boss, chances are you are not doing enough to…