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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…
Three step checklist for retirement
When should I start saving for retirement, people often ask? The answer jokingly is yesterday, but in reality, as soon as possible. Tax-advantaged retirement savings vehicles such as 401(k)s and Individual Retirement Accounts (IRAs) are routinely advocated by financial experts,…
What If I Sign Up for Medicare Before Social Security?
Maurie Backman notes that signing up for Social Security before Medicare matters little as far as the mechanics of it all. Age 62 is currently the most popular age to file for Social Security, even though seniors have between ages 62 and 70…
Beware these retirement planning myths
Kailey Fralick’s article here tries to steer those planning for their golden years away from three common misconceptions that could doom their ability to have a stable, secure retirement. To begin, people in their 20s and 30s think retirement is so…
Social Security: Moral Right But Not Legal One
This opinion piece by Mike Plunkett explains a little known but important Social Security case of Flemming v. Nestor. A main point of the majority’s opinion in the case is frequently noted as something of the order that “the government has no…