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Bipartisanship for Social Security Reform? Exactly what is needed!
In my lifetime, I don’t recall ever seeing a Congress more divided on some of the most fundamental American principles. These days it appears that whenever any idea is floated on one side of the Congressional aisle, the reaction from…
Planning to retire at age 65? Better read this.
Age 65 is often thought of as the standard American retirement age, likely because that is the age at which most Americans must enroll in Medicare, the nation’s healthcare program for seniors. And many Americans do actually retire at age…
Medicare Advantage and Prior Authorization
For information, “Medicare Advantage” refers to private healthcare insurance which replaces the traditional government-run healthcare program known as “original Medicare.” Medicare Advantage plans have recently been in the spotlight for their seemingly strong tendency to manage their corporate expenses by…
“Cautious Optimism” about Social Security’s Future?
If you read these pages regularly, you know that Social Security will soon have financial difficulties which, if left unresolved by Congress, will result in a cut to everyone’s monthly Social Security payment starting in about the fall of 2032.…
The maximum Social Security benefit in 2026 is $5,181, though few individuals qualify for this amount.
Many people incorrectly believe Social Security benefits are based on your highest three or ten years of earnings. For 2026, you must earn at least $1,890 per quarter to receive credit for a quarter, up to four quarters per year,…
Another Idea to Help Keep Social Security Solvent
With Social Security projected to become insolvent by 2032, several solutions are under consideration. Kathryn Anne Edward proposes that employers pay taxes on subcontractors’ earnings. For instance, if an employer issues a 1099 for $100,000, they would pay a 6.2%…
One of the “Wackiest” Social Security Rumors Ever
Tom Margeneau, a retired Social Security Administration (SSA) employee, regularly shares engaging stories. In his latest article, he addresses a Social Security rumor I had not encountered before. I agree with his assessment that this is among the most unusual…
If You Think Your Social Security Benefits Can’t Be Garnished, You Are Mistaken
Private debtors are allowed to touch your Social Security benefits. Only the Federal Government can. The “can’t leave you with less than $750 isn’t always true; they can leave you with a lot less in certain instances. Your Social…
How Working at Seventy and Beyond Affects Your Social Security
People often ask whether continuing to work beyond age 70 will increase my Social Security benefit. The correct answer is that it depends on your previous earnings. Your Social Security benefit is based on your highest 35 years of earnings,…
Is a High Cost of Living Increase for Social Security Recipients Actually a Good Thing?
Seniors anxiously await the announcement of the cost-of-living increase (COLA) each year. But the truth behind COLAs is that inflation is increasing. Social Security COLA increases were not always automatic. Before 1975, Congress had to pass legislation to raise benefits,…