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Have Enough Set Aside for Retirement? Better Be Sure.
Citing statistics from the World Economic Forum and U.S. Bureau Of Labor Statistics, the Motley Fool’s Katie Brockman sounds the alarm with this statement “Retirement is more expensive than you may think, and underestimating how much you need to save can…
Another View on Social Security 2100: The Impact of Expansion
One of the underlying objectives of the H.R. 860–the Social Security 2100 Act–now the subject of House Ways and Means Committee hearings is to achieve expansion of the program, funded by increased payroll taxation. Is it good, or is it not…
An Early Look at 2020 Social Security Changes
It’s only mid-summer, but the prognosticators and pundits have already begun to issue forecasts about changes expected in the Social Security guidelines that are likely to have an impact on all beneficiaries. From the likelihood of a 1.7%-1.8% COLA increase,…
West Virginia Reports Progress in Tackling Disability Fraud
Working in partnership with the Social Security Administration, West Virginia’s Cooperative Disability Investigations (CDI) Unit has achieved a reported another $2.24 million in savings through detection of fraudulent disability claims. This latest savings report, reflecting the second quarter 2019 activity, adds…
American Enterprise Institute decries Soc Sec tax hikes will hurt poor the most
Matt Weidinger of The American Enterprise Institute recaps the problems with Social Security’s long term finances. He commends Democrats in the House for tackling reform with their Social Security 2100 Act, which would allow the program “to pay all scheduled benefits…
Boost Your Social Security Benefits
Security Security benefits were never meant to live on alone without supplemental pensions, savings, or other sources of income. Benefits replace just 40 percent of pre-retirement income. Filing for Social Security as late as possible is the easiest way to get…
Social Security Taxes Explained
Bill Bischoff explains the Social Security payroll tax in this MarketWatch piece, covering how it is applied, including to self-employed people. He includes an explanation on the difference between cost of living increases to benefits and the calculation that determines…
Retirement essentials to keep more cash in your pocket
Social Security and Medicare are essential government programs, but a new poll shows how little Americans understand both. Darla Mercado of CNBC summarizes the findings and adds these three tips: 1.) do the “catch up” IRA contributions in your 502 to…
Early Social Security benefits not usually in one’s best interest
A majority of those filing for Social Security claim benefits before full retirement age. This occurs despite a plethora of research noting that it pays to wait, to as long as age 70 if possible. Steve Vernon cites the few…
Delayed Benefits Could Expedite Social Security’s Financial Instability
New research by the money management firm United Income casts much doubt on the assertion that seniors should delay claiming Social Security as long as possible (to age 70) to receive maximum lifetime monthly benefits. While good for individuals, the research suggests that if seniors…