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The simplest way to grow your savings
With Social Security replacing only about 40% of pre-retirement income, there is an urgent need for workers to save more money. Automatic savings through payroll deduction is the easiest way to save, as the money is deducted before it can…
Three reasons NOT to take benefits at age 62
Christy Bieber of The Motley Fool believes a lack of understanding about how Social Security works is the cause of so many people starting benefits at age 62. Doing so permanently reduces benefits for one’s entire lifetime. The first of the three worst reasons to…
A brief, informative history of Social Security
Emily Brandon of U.S. News discusses how Social Security benefits have changed over time. She provides answers to these questions, among others, including how the program has modernized in the last six years. What Is the Social Security Act? When Was Social…
Deficits due to begin with Social Security in 2019
This year is widely believed to be the year we turn the corner and that Social Security will pay out more to beneficiaries than it collects in revenue, most of which comes from current workers with the payroll tax. Deficits…
Social Security – Here are some basics
Social Security is unarguably one of America’s most important benefit programs for seniors, with over 60% of beneficiaries relying on it as a “major’ source of income. Given the program’s importance to your retirement future, there are some basic facts which everyone who will…
How your Social Security survivor’s benefit works
The trauma of losing a spouse is difficult, and if you’re a survivor who will need to depend upon your Social Security income there are some things you should know. If it’s larger, the benefit from your deceased spouse will…
Who will not get Social Security benefits?
It’s pretty well known that nearly 63 million Americans receive Social Security benefits, either in the form of retirement benefits for eligible workers, spousal. survivor or dependent child benefits, or disability insurance benefits. And if you take Social Security’s disability insurance protection…
Social Security and the 2020 Election
With the 2020 elections already causing a media stir as potential candidates announce they’re running, you might wonder which issues will take front and center stage when the campaigns go into full swing. Surely immigration, the economy and the bulging national…
Tax season is prime time for catching and fixing last year’s IRA slip-ups
It’s tax time, time when filers uncover IRA errors, whether you put away too much money in your IRA or you forgot to take out a required minimum distribution. Tax season is prime time for catching and fixing last year’s…
Factors that could shrink your Social Security check
According to the Social Security trustees, the program’s trust fund is scheduled to run out of money; if nothing else is done, they say, after 2034 Social Security’s annual income will only be enough to pay “about three-quarters of schedule…