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Women and Social Security
“The times, they are a-changing!” “The times they are a-changing,” Grandpa was fond of telling Grandma as they navigated through the Great Depression, the world changing around them on their small upstate NY farm. Although the Social Security Act was…
A 3.2% boost for 2024?
We’re less than a month away from the announcement of the 2024 cost of living adjustment (COLA). Javier Simon explains how he arrives at a predicted 3.2% increase in benefits. Whatever the final calculation, all analysts agree it will be…
Being Forced to Retire is Common
A recent survey by Edward Jones and financial advisers across the industry report that 40% of their retired clients were forced into retirement. Further, 97% of the advisers surveyed agreed with the statement that retirement involved more surprises and challenges than…
Defusing the Social Security “tax torpedo”
Liz Weston explains Social Security benefits were once tax free. That changed in 1983 with an update in 1993. Neither change indexed the brackets for inflation. In 1983, just 10% of seniors paid the tax, but it’s now the vast…
Is There a Best Age to Take Social Security?
Yes, or at least maybe, is the answer to a “best” time for starting Social Security. Traditionally experts have asked folks to examine their own health and family’s longevity when trying to ascertain when to begin retirement benefits. Starting at…
The Double Edged Sword That is the Social Security COLA
Social Security retirement benefits are due to go up, and the exact percentage increase will be announced by the Social Security Administration on October 12th. Sean Williams notes the double edged sword nature of this. The increase will be lower…
Gaps in Knowledge & Changes Coming to Social Security in 2024
Trevor Jennewine mentions a survey from the Nationwide Retirement Institute in this piece. He also notes the typical annual changes coming to Social Security effective January 1, 2024. One will be a cost of living adjustment, predicted around 3% but…
An Analysis of the “File Early and Invest the Cash” Strategy
One of the frequent questions we receive here at the AMAC Foundation Social Security Advisory Service relates to the “when to file” issue, and we typically respond with the benefits of deferring as long as possible (up to age 70)…
Senate Bill to Block Social Security Garnishment Reintroduced
Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…
Thoughts on the Pessimism Expressed by Gen Zers
It’s been widely reported that the Generation Z population cohort–those born in the 1997-2012 range–have a dismal view of Social Security’s future. In fact, according to MarketWatch reporter Alessandra Malito, “almost half of the people in that group don’t think…