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Larry’s answers to several Social Security questions
In his regular Forbes column, contributor Laurence Kotlikoff answers several questions about getting retroactive Social Security benefits, about whether it’s possible to collect both your own Social Security retirement benefit and also a survivor benefit, and if it’s possible for…
“WEP” and “GPO” can reduced or eliminate Social Security benefits
In this Chicago Tribune article by Elliot Raphaelson, the author describes how certain other pensions, most notably those by public service employees of a number of States, are surprised to find that,because their main career in public service didn’t contribute…
Medicare’s Trust Fund depletion now predicted as 3 years sooner
The nation’s premier healthcare program for over 60 million Americans is now scheduled to run out of reserves three years earlier than previously predicted by the program’s Trustees. In its annual report released yesterday, the Board of Trustees revealed that…
Social Security’s costs will exceed income this year
For the first time since 1982 the costs of Social Security, arguably the nation’s most important social benefit program, will exceed revenues in 2018. This is an ominous forecast made by the latest report from the Social Security Trustees, who…
Short on savings? Consider a side gig
It’s pretty well known that Americans are notorious for not saving enough money to take into retirement, with a result they’re not comfortable they’ll have enough to “live the good life” when their golden years arrive. So what many workers…
2019 COLA could be about 3%, or more
Although the actual numbers won’t be known until October, through April of this year the Consumer Price Index used to determine Social Security’s annual cost of living adjustment (COLA) implies that beneficiaries could see as much as a 3% raise next…
No new news in the latest Social Security Trustee’s Report
No news is good news, as the saying goes, and that’s especially true with the release today of the annual Trustee’s Report on the financial condition of the Social Security program, as related in this RealClearMarkets article by Henry Aaron.…
Social Security’s disability “compassionate allowance” helps those battling cancer
For those battling cancer, just hearing the “C” word was devastating enough, followed by the consequences of the disease including, in some cases, suddenly being unable to work. Social Security can help in these situations though its disability program which,…
Don’t plan for Social Security in a vacuum
Retirement planning can be quite challenging, but looking at your Social Security options in a vacuum is never a good way to decide when to claim benefits, according to this Kiplinger article by Sean McDonnell. The article discusses how Social…
Women face unique issues in retirement planning
In this article by Andrew Menachem appearing in The Miami Herald, the author describes the very unique issues facing women in retirement, not the least of which is the fact that, on average, women live longer than men and will…