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Fixes to our fiscal problems are simple, but not for Congress
In this Op Ed piece by noted columnist Cal Thomas, the author laments that the solutions needed to fix the nation’s financial woes, including Social Security, are simple but that Congress’ priority of seeking reelection trumps their ability to actually solve…
Misconceptions about Social Security can hurt you
There’s little question that Social Security is, or will be, a large and important part of everyone’s retirement plan – more than 50% of those polled believe that Social Security will be a “major” part of their finances in their…
Bernie Sanders on Social Security: 10 things the self-described Socialist believes
Sean Williams of The Motley Fool lists presidential candidate and Independent Vermont Sen. Sanders’ views on Social Security. For much more detailed information on each, click here for the full article. The list of 10: 1. Sanders doesn’t believe Social Security…
Social Security going bankrupt? Well, not exactly.
Social Security is not on the verge of bankruptcy, though future cuts of 20% in benefits for all are a real possibility due to changing demographics. The program can never truly go broke as long as workers are making payroll tax…
Bipartisan retirement bill now closer to becoming law
The Secure Act, a bill that aims to improve the nation’s retirement savings, passed the House of Representatives Thursday with bipartisan support. Two major provisions include making it easier for small businesses to join together to offer 401(k) plans and another to eliminate the…
Why pessimism on Social Security could come back to bite Millennials
Mark Miller of Reuters worries that the young have been conditioned to think Social Security will not be there for them when their retirement time comes around due to all the talk of Social Security’s financial problems over the longer term. “The danger here is that the current…
A Social Security hybrid plan could help more people save for retirement
Numerous studies show Americans are not saving enough for retirement. At the same time, the Social Security Trustees report insolvency will occur in 2034 or 2035, with 20% or more benefit cuts across the board for all recipients. What then…
Non-savers most likely to retire broke
Katie Brockman acknowledges saving for retirement is not fun and tough work. The key to being successful in saving is to change your mindset about it. Rather than thinking of it as something to be done when you have extra money, she says…
Proceed with caution before starting Social Security benefits at 63
Maurie Backman of The Motley Fool states unequivocally that if you file for Social Security at age 63 with a full retirement age of 66, you will lose about 20% of your monthly benefit amount. Filing at 63 with a full…
The 13 Things You Probably Didn’t Know About Retirement Savings
John Iekel summarizes testimony given by Andrew Biggs, resident scholar at the American Enterprise Institute, to the House Budget Committee on May 15, 2019. Biggs’ list of “facts, figure and ideas” were enlightening not just to members of Congress but retirement professionals as…