Latest News
A Social Security myth debunked
In this article by The AMAC Foundation’s Social Security Advisory staff, the author debunks a myth often recited – that your Social Security benefits are based upon the last few years of your earnings from working. This “Ask Rusty” article appears…
Social Security’s Compassionate Allowance List Expanded
Social Security’s “compassionate allowance list” (“CAL”) is a catalog of specific illnesses and conditions which somewhat automatically qualify a person with a listed condition for Social Security Disability Insurance (SSDI) benefits. The Social Security Administration recently announced the addition of…
Social Security’s Future Financial Woes
In this somewhat paradoxical and tongue-n-cheek account, author Tom Purcell describes a fictional conversation with a CPA about Social Security’s financial woes. Despite his humorous approach, the author tackles a very serious subject – the Social Security program needs Congressional action in…
Reversing Your Decision to Claim Social Security
Of course, everyone’s personal situation is different, but it often happens that someone might claim Social Security because of an event and later find that their situation has changed and they regret claiming benefits. For example, someone in their early 60’s might…
Social Security Disability: Here’s the basics you need to know
Nearly two thirds of all who apply for Social Security Disability Insurance (SSDI) benefits are initially denied. That’s a pretty daunting figure, but it reveals that Social Security’s criteria for considering you “disabled” are quite stringent. You must be totally…
The case for claiming Social Security early
Most advisors will tell you – the longer you wait to claim Social Security, the more your benefit will be. And that’s certainly true. But is waiting the right thing for you? Well, that all depends on your personal situation, because…
Social Security’s 2020 Cost of Living Increase – An early prognostication
Well, here we are just barely into the 3rd quarter of 2019 and pundits are already forecasting what next year’s Cost of Living Adjustment (COLA) will be for Social Security recipients. COLA increases each year are determined by the difference…
Restricted Application Option Alive and Well…For Some, Anyway
If you were born on or before Jan. 1, 1954, you should know that there’s a lucrative Social Security option still available to you that can benefit you substantially. It’s called the “Restricted Application,” and it’s an option that allows you…
Understanding Social Security’s “Do Over” Option
According to some analyses, age 62 remains the most popular age for claiming Social Security benefits. There are reasons why this is a good option for some folks, but many may just exercise the option because it’s available to them.…
A Sometimes-Overlooked Social Security Benefit for Divorcees
A divorced person over age 62 has an option to receive Social Security benefits on the work record of a former spouse, assuming certain tests can be met (for example, the marriage must have lasted ten years or longer). Also,…