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One Viewpoint on “Fixing” Social Security
“Keep it simple” is an oft-used directive to address complex situations. Sometimes it works; sometimes it doesn’t. WealthManagement.com’s Kathryn Anne Edwards seems to think simplicity is the appropriate path to solving Social Security’s looming financial catastrophe, as hinted in her…
AMAC Delivers the Latest Social Security Updates Through Its Partnership with the SSA
(Editorial Note: This article previously appeared on AMAC Newsline) AMAC’s partnership with the Social Security Administration gives us access to the agency’s Monthly Information Package (MIP), a collection of articles that provides updates on Social Security programs, services, and resources.…
Retiring Next Year? Here are some pre-planning tips to set you up for success.
Retirement planning can be an intimidating process for many folks, involving Social Security benefit claiming, investment strategies, health care cost estimating, tax strategies, etc. In this segment of Morningstar’s Retirement Countdown series, Christine Benz focuses on the near term, outlining…
Flawed Medicare Advantage payment methodologies
The Medicare Advantage Quality Bonus Program (QBP) is a payment incentive for Medicare Advantage (MA) plans that score 4 stars or higher on CMS’s five‑star quality rating system. However, the intention of paying more for higher quality is reasonable; it…
Retirement security has become an issue for many Americans
Americans’ growing concern about their future retirement while trying to deal with the higher living costs and the emergence of AI’s impact on the workforce. According to Thrivent, a financial services firm, almost half of the survey respondents are skeptical…
Even waiting a short time to apply can make a huge difference to your checks.
You can start Social Security as early as 62, but your benefit will be permanently reduced. Waiting until FRA gives you the full amount, and delaying until 70 can significantly increase your monthly payment. Let’s make it clear: there is…
You would want to avoid these common misconceptions
Social Security plays a critical role in retirement planning for many Americans. Social Security benefits serve as a stable, guaranteed income source that can be essential for maintaining a basic standard of living. Unfortunately, this important decision, if you get…
Retiring unexpectedly can impact your retirement plans
According to the recent report from TIAA Institute, “Americans are retiring sooner than they expected and most retirees wish they had done a better job saving.” These findings confirm similar findings from two recent reports from the Employee Benefit Research…
Is there a need for another Social Security commission?
In response to the latest Social Security Trust Fund report, members of Congress have put forward at least two bills to create a commission to come up with a proposal to “save” Social Security. This is not the first time…
More ways to lower the cost of medical care in retirement
One of the most reported expenses in retirement is the cost of healthcare. Fidelity says a 65-year-old retiring this year can expect to spend an average of $185,500 on health expenses through retirement. However, according to the actuarial and consulting…