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High earners beware: You can’t live on just Social Security in retirement
At its inception, Social Security was never intended to be the sole source of income for people in retirement, and beneficiaries today will find that their benefit check provides, at most, only about 40% of what they need to live.…
Thoughts on Social Security as an “investment”
While it’s certainly not an “investment” in the traditional sense, viewing Social Security through the lens of a financial planner and comparing those “returns” to more traditional investment vehicles affords one a better understanding of the true value of this…
College students concerned about Social Security’s solvency
In a somewhat refreshing departure from much of what the main stream media portrays as students’ concerns these days, one non-partisan organization known as “Free the Facts” recently presented students at Villanova University with a treatise on Social Security’s financial woes,…
You’ll need more than just Social Security to retire comfortably
This isn’t exactly breaking news, but if you’re planning on Social Security being your sole source of retirement income you’re in for a very unpleasant surprise. At the very most, Social Security will make up only about 40% of what you’ll…
Many have unrealistic hopes about Social Security
More than half of future Social Security beneficiaries, and more than 40% of current beneficiaries, have or had an overly optimistic view of how Social Security will fit into their overall retirement plans. This information comes from a recent survey…
Social Security and Non-U.S. Citizens–Understanding the Rules
In addition to its massive complexities for U.S. citizens, our Social Security system contains specific rules and provisions pertaining to non-U.S. citizens, and some of these do in fact provide for benefits for individuals who live in the U.S. but…
More on the Savings Dilemma–Thoughts on Catching Up
Financial journalist Sarah Max, writing in a post today on time.com/money, provides some thoughts on how to bolster one’s savings in preparation for entering retired life. From working longer to thinking strategically about savings, her advice can help shore up what…
Dealing With the Uncertainties of Retirement Finances
So much has been written about the lack of savings among those heading into retirement, but for those with modest to comfortable savings, there’s still a dilemma that needs to be addressed–the uncertainties that lie ahead and how to manage…
Social Security’s Solvency Issue: The Further Out You Look, the Worse it Gets
Much has been written about the 2034 horizon associated with Social Security’s Trust Fund balances. That’s about the time when the Trust Funds reach a zero balance, triggering a substantial–most estimates are in the 22% to 23% range–reduction in benefits…
The Retirement Gender Gap
With women statistically outliving men, and with women accumulating less of a retirement nest egg than men, it’s no wonder that the standard of living in retirement for women is a growing concern. Financial writer Mitch Tuchman takes a look at…