Latest News
3 “Must Dos” Before You Claim Social Security
Social Security is a critical source of income during retirement. Before signing up for benefits, Maurie Backman of The Motley Fool suggests folks first commit their full retirement age to memory. Only 26% of Americans could correctly identify that age according to a recent…
How a government pension might reduce your Social Security benefits
They are not always well known, and they are even less well understood. They are the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). Enacted by Congress in 1977 and 1983 respectively, both were meant to bring a…
Take these four steps before leaving the workforce for good
Christy Bieber suggests checking off each of these four tasks from your list before leaving the workforce for retirement. First is to pay off debt. Second is figure out what your income will be. This might include Social Security, employer-provided pensions, and…
Widowed? Don’t Waste This Key Social Security Benefit
Social Security provides monthly survivor benefits following the death of a spouse. But the way that these survivor benefits supplement other Social Security benefits isn’t always easy to understand. As Dan Caplinger points out in this piece, there have been many documented…
Social Security has three sources of revenue
Social Security revenues are derived from three primary sources, as explained by Dan Caplinger in this piece. First, the program collects payroll taxes from employees and employers. Second, it collects income taxes on the portion of Social Security benefits that are included in taxable…
Can Social Security Save Your Retirement?
Maurie Backman notes an estimated 33% of workers 55 and over have less than $10,000 set aside for the future. One of the prevailing views held by so many is that Social Security will save folks in retirement. The problem…
Millenials’ pessimism on Social Security
Abigail Narbe works at a think tank in D.C. Metro and wrote this op-ed piece on Millenials and their views on Social Security. Narbe points out 8 in 10 Millennials don’t expect Social Security support when they retire. Congress narrowly averted an irreversible collapse…
Slashed lifetime benefits – a heavy price for claiming Social Security early
Maurie Backman stresses that people filing for Social Security retirement benefits at the earliest age of 62 need to have all the information to make as informed a decision as possible. Few know you will lose 6.67% of your benefits per…
Changes to California’s Supplemental Nutrition Assistance Program
Supplemental Security Income (SSI) is a federal program that provides monthly payments to people who have limited income and few resources. SSI is for people who are age 65 or older, as well as for those of any age, including children, who…
What are the misconceptions about Social Security?
You often hear statements from friends, family and even professionals about the Social Security program that are either partially or completely incorrect. Inaccurate information can lead you to make poor claiming decisions which ultimately impacts your bottom line – sometimes…