Latest News
More and More Americans Are Relying Heavily on Social Security For Their Retirement Income
Social Security was created in 1935 to keep older people out of poverty when they could no longer work, but it was never meant to be your only source of retirement income. Currently, the average monthly Social Security income is…
The One Suggestion to Keep Social Security Solvent Most Americans Are Against
Social Security has faced insolvency before, and once again Congress will have to make some difficult decisions to keep it solvent and avoid a 22% cut to all Social Security recipients as early as 2032. The Trust Fund consists of…
Surviving Spouses Have Options For When to Claim Their Survivor Benefits
A surviving spouse becomes eligible to claim their Survivor benefits at age 60 (50 if disabled), when they would receive only 71.5% of their deceased spouse’s benefit. An ex-spouse may also be eligible for a survivor benefit if they meet…
Do Not Let the Fear of the Social Security Trust Fund Becoming Insolvent Make Your Social Security Decision
The looming insolvency of Social Security has become front-page news daily. However, do not let this fear determine when you should start your Social Security benefits. It is true that if Congress doesn’t take action soon, Social Security recipients could…
Age 65 Is No Longer The Full Retirement Age
It is very common for someone to start their Social Security benefits at age 65. The most common reason is to pay for their Medicare Part B premiums. If your full retirement age (FRA) is 67, which it is for…
Should The Wealthy Give Up Their Social Security Benefits?
As the looming insolvency date for Social Security steadily grows closer, more and more discussions on how to keep the system paying full benefits lean toward making high-income earners pay more. Some even ask if Social Security should be income-based.…
August 2026 Social Security Payment Schedule
Social Security payments are sent out based on the day of the month you were born. If you are receiving a spousal or survivor benefit, you receive it based on your spouse’s birthday, not your own. There are currently over…
COLA for 2027 Will Be Realeased In October 2026
The estimates for the expected cost-of-living adjustment (COLA) for 2027 are running high. The current estimate is around 3.8%, a full percent higher than this year’s 2.8%. However, the actual COLA for next year won’t be known until approximately October…
Social Security Continues to Increase What You Can Do Online with a My Social Security Account
As Social Security continues to automate and requests that you create a My Social Security Account to avoid contacting them, the list of what you can do online continues to grow. Most people have been aware for quite some time…
Understanding the Net Investment Income Tax (NIIT)
Proposals to increase the Net Investment Income Tax (NIIT), instituted in 2010 under the Affordable Care Act, and to apply it as a new revenue stream in the quest to resolve the Social Security insolvency dilemma are resurfacing. The current…