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Save Social Security Now
Save Social Security now says Charles Blahous, but a chorus of so many others mouth those words too. Yet there has been no action since “the grand bargain” that President Reagan, Speaker Tip O’Neill, and others struck in 1983 to do just…
Don’t let record-keeping mistakes cost you thousands
Social Security benefits are based on one’s average indexed monthly earnings from the 35 highest-earning years. But as this article points out, the Social Security Administration (SSA) does make mistakes. If not caught, that would mean a serious reduction in benefits. Over $1.2 trillion in…
Editorial: Make changes now to rescue Social Security from imploding
This editorial from The New York Post addresses the fact that there was more bad news, at least in the longer term, for Social Security, than good in last week’s report from the Trustees. The writers feel that lawmakers shouldn’t…
Saving for retirement should not be left to chance
Did you know nearly 40% of Americans think winning the lottery would be a good retirement plan? That’s from a survey conducted by financial company Stash. Among the young, nearly 60% of Millennials saying winning the lottery is a reasonable way to…
More Social Security? Not likely given its state
Social Security enjoys broad support in America. Pew Research Center questioned a number of demographic groups in March 2019 on whether cuts should be made to Social Security for future beneficiaries in order to put the program on firmer ground. Of all the…
How is Social Security “going broke” with all the surpluses?
It’s often tough for people to comprehend, but while Social Security has been stockpiling worker payroll taxes since 1982, including a surplus of $3 billion in 2018, the good fortune turns around in 2020. The program was due to run a…
Can more immigration help what ails Social Security?
Among the more peculiar and less reported findings in this week’s Social Security Trustees report are these three. First, fewer workers applied for disability benefits in 2018 than expected, which lowered overall costs. Second, life expectancy decreased. As Americans die sooner than…
Social Security–the problem and possible solution
That Social Security is facing problems in the long-term is little news to those have have followed the program for decades. The days of stockpiling surpluses from more taxes coming in than are paid out will end in 2020 As Brad…
What deficits from 2020-2034 mean for Social Security
It was to occur this year, but the strong U.S. economy has given the Social Security program one additional year before benefits paid out exceed income, derived from payroll taxes on workers as well as interest and income tax on…
Social Security not going anywhere soon
The 2018 Transamerica survey that stated that more than 75 percent of Americans are concerned Social Security will not be there for them when they are ready to retire continues to set off alarm bells, especially in light of the…