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What do six-figure earners get from Social Security?
Selena Maranjian of The Motley Fool shines a spotlight on high income earners in this piece. Many six figure earners had lower incomes in their early working years. In reality, they are subject to the same formula as everyone in that…
The Trade War and Social Security
News of a trade war with China has experts predicting higher prices on goods made there. U.S. companies that use Chinese parts may also have to raise prices of their finished goods. An unintended benefit of higher prices means a…
Two-thirds of near retirees fear Social Security shortfalls
A new study by Nationwide of U.S. adults age 50+ found that 66% of workers planning to retire in the next 10 years say they are worried that Social Security won’t have the funding to pay their promised benefits. The Social Security system is…
Study: Early filers often have “regret”
A married couple living until their mid-90s would give up more than a half million dollars, or as much as $2,000-4,000 per month for life, just by filing for Social Security retirement benefits at age 62 versus filing at age 70. That…
Easy fixes for Social Security – if you aren’t a politician
To get elected or to stay in office usually means steering clear of Social Security’s problems. Some politicians offer vague statements like “protecting the program,” but few advocate for serious solutions for a program headed for partial insolvency in just…
Americans are saving more. Is it enough?
Social Security is but one pillar to a strong, secure retirement. But, it will replace only about 40% of pre-retirement income. From where will the rest come needed for one to be secure? The good news is overall retirement plan balances…
Three factors that determine your Social Security benefit
How much will I get in Social Security? It’s a question every American will ask at some point as they approach retirement age. The answers are simple, even if the calculations cannot exactly be done in one’s head. The first…
A Simple Fix for Social Security? Hardly.
The problems and many of the proposed solutions to what ails Social Security have been known for years. In short, a demographic crisis of people living much longer coupled with smaller family sizes *hence fewer workers contributing) means Social Security…
National debt projected to grow faster than the economy — forever
Two authors from the Committee for a Responsible Federal Budget have penned an op-ed about America’s alarming $1 trillion dollar annual deficits, the amount that federal spending exceeds revenue each year. The overspending is just added to the existing $22.3…
A politically unpopular tax hike could give Social Security another 75 years
In this piece Sean Williams describes a solution noted in the April 2019 Trustees’ report that would instantly resolve Social Security’s $13.9 trillion cash shortfall over the next 75 years. Contained within every trustees report is a figure known as the “actuarial deficit” …