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Be weary of having too much faith in Social Security
According to a recent survey by the reverse-mortgage lender American Advisors Group, almost 50% of all baby boomers say that Social Security will be their primary source of money in retirement. As Kailey Fralick reports, that is worrisome because Social Security was only designed to…
Social Security basics for the Self Employed
Owning your own business is, after all, the quintessential American dream. And while establishing and managing your business into a successful venture are paramount, there are also certain responsibilities you’re obligated to fulfill when it comes to paying your taxes.…
Can my Social Security benefits be garnished?
With most beneficiaries relying on Social Security for a major portion of their retirement income, it could come as a very painful surprise that certain types of debt could cause your benefits to be garnished. Garnishing Social Security income which is…
Survey results are in: Most don’t know Social Security basics
The somewhat stunning results from a recent survey of one thousand individuals, revealed that 96% of those surveyed demonstrated a shocking lack of understanding of Social Security, a program which does, or will, play a major, if not crucial role in their retirement…
A psychological opinion for why people claim Social Security early
In spite of the fact that there’s an eight year window of time during which people can claim their Social Security benefits, and despite the reality that the earlier you claim, the less your benefit will be (and vice versa),…
Social Security’s Online Services
The Social Security Administration has been transitioning to improved online services for several years now, and the list of services available online continues to grow. From applying for benefits online, to requesting a replacement card, to obtaining estimated benefits and…
About paying taxes on your Social Security income
Taxes are one of two inevitable things. And while that’s well known by most when it comes to earned income and investment income, your Social Security benefits may, or may not be, taxable income also. Where you live might affect your taxes…
Approaching retirement? Here are some things you should do
The best time to think seriously about your retirement is well before you actually retire. And that’s not a luxury but simply a very smart thing to do. Retirement planning can be as complex or as simple as you wish…
A true story about a Social Security fraud attempt
We’ve often featured articles about the increase in fraud attempts and scams which try to get at Social Security benefits of unsuspecting people. One particularly egregious scam is when a cyber-criminal tries to fraudulently open an online “My Social Security” account…
How your health affects when you should claim Social Security
Most advisors, when looking solely at the financial elements of your retirement, will recommend that you delay claiming Social Security as long as you can. But reality is that everyone’s personal situation is different, and there a some very valid reasons…