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Social Security’s reserves could be gone by 2035
We’ve covered this topic in these pages numerous times before, but this article by Ernest Welin appearing in the Sarasota, FL Herald-Tribune covers the topic especially well. Social Security reserves, now standing at about $2.895 trillion, will start to be…
Have a plan for claiming Social Security, but be flexible enough to adjust
Everyone’s plan for when to claim their Social Security benefit is, or should be, based upon sound analysis which include financial goals, health and expected longevity. And most people now know that waiting as long as possible, even to age…
Can I count on Social Security being there for me?
The fact that Social Security has financial issues is fairly well known at this point, giving rise to the question – largely from those yet to start their benefits – as to whether it will be there for them when…
Social Security benefits for spouses and ex-spouses
Spousal benefits are arguably the most complex segment of Social Security’s myriad rules and regulations, of which there are over 2,700. Sorting through all of the various options available to spouses, including when to take the benefit, how it is…
Why checking your Social Security earning record is important
Although there is sometimes a misunderstanding of exactly how your earnings are used to figure your benefits, most people are keenly aware that their earnings are what eventually determines their Social Security benefit amount. In reality, it’s your 35 highest-earning years which are…
The consequences of claiming Social Security early
In this Yahoo! Finance article by Maurie Backman of the Motley Fool, the author describes how the age at which you start collecting Social Security affects your benefit amount. Collecting before your full retirement age – between 66 and 67…
Claim benefits at 62? Or wait?
Sure, 62 is the age at which you become eligible for Social Security, but taking benefits at that age will mean that you’ll get between 25% and 30% less than you would get by waiting until you reach your “full…
Social Security scams are an ongoing problem
While it’s certainly not the first time we’ve posted warnings here about Social Security scams, it’s a message that bears repeating: Social Security scammers are out there and continue to try to bilk you out of your money. Using tactics…
Op-ed: NO tax increases to fix Social Security
Alfredo Ortiz, president and chief executive of the Job Creators Network, flatly rejects any tax increase as the fix for what ails Social Security in this op-ed piece in The Hill. Ortiz specifically cites legislation introduced by Rep. John Larson (D-CT), chairman…
Social Security advisors see growing role
It’s small wonder more people are turning to financial advisors for Social Security questions with a recent Gallup poll stating more than 40 percent of people say they worry about the Social Security system a “great deal.” Defined benefit plans,…