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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” …
Full retirement age not known to many people
New data from Nationwide notes a serious knowledge gap among older Americans nearing retirement, as just 24% of older adults can identify their full retirement age (FRA) for Social Security purposes. Absent this key piece of information, Americans risk filing at the wrong time and…
Social Security and people’s retirements are indeed in trouble
Yes Social Security is in trouble. That is actually not news, as the Trustees reported yet again in April 2019 what has been known for many years. Without changes soon, the program will only be able to pay out about…
Check your Social Security benefit statement often
The Social Security Administration (SSA) has been working diligently to cut expenses, and one of the methods they have used is to stop mailing Social Security statements to everyone. Estimated Benefit Statements are now mailed only to those approaching retirement age,…
Stealing Social Security benefits of someone who died
A rather macabre report by WHIO (OH) reporter Kate Bartley reveals a disturbing trend of Social Security fraud – concealing a beneficiary’s death in order to steal the deceased’s Social Security benefits. In this case an Ohio woman’s granddaughter discovered and…
Good advice on investing; hyperbole about Social Security
Though the hyperbole is quite over the top using terms like “a future without Social Security” and “in case Social Security disappears” (not a reality), this US News & World Report article by contributor Maryalene LaPonsie nevertheless provides a great…
Social Security 2020 COLA: An early prediction
Okay, so reality is that it’s way too early to make an accurate prediction of what next year’s Cost of Living Adjustment (COLA) will be for those collecting Social Security benefits. After all, COLA is determined by the results of…
Here’s how to plan for your retirement
Most of us know, at least intellectually, that we need to plan for retirement. But do we know how and where to start? Probably not, which is why this article by Liz Weston, appearing at NerdWallet.com, is especially timely and…