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Another Social Security scam alert
Yet another scam alert has been issued by the Better Business Bureau warning seniors not to fall for calls from area code 323 claiming to be from the Social Security Administration. In this latest scheme, the caller pretends to be…
Understanding the Social Security deficit
1983 was the last year that major legislation aimed at Social Security’s long term solvency was passed, and at that time the program’s 75 year outlook, expressed as a percentage of taxable payroll, was a surplus of 0.02%. That meant that…
Why you should wait until 70 to collect Social Security
Sure, 62 is the age you become eligible to collect Social Security and cash in on those FICA payroll taxes you’ve been paying your entire career. And sometimes there are really good reasons why collecting at 62 is smart, and,…
Social Security scams and how to avoid them
There is probably no end to the number of nefarious schemes to bilk seniors out of money, and your Social Security benefits are a prime target. The latest is a recorded call from someone purporting to be from the Inspector…
Average benefit payments for retirees, survivors and the diaabled
Social Security is a critical source of income for a majority of the more than 61 million Americans who depend upon it. Those beneficiaries include retired workers, the disabled, and survivors. So just how much do each of these categories…
Finding your ideal retirement age
After a lifetime of working, trying to decide at what age to retire can be stressful and often confusing. Then there’s the emotional side of it; striving to understand if you’re really ready to go from a full time career…
Next year’s COLA increase may not be as good as predicted
For all the hoopla following the recent Trustees’ Report prediction which forecast a 2018 COLA increase of 2.2%, the inflation indicators which drive the actual adjustment aren’t performing to the level needed for that big a boost. COLA is driven…
Yet another scam: Paying bills using a Federal Routing number
Apparently a hoax perpetrated by tax protesters, the latest scam is conning people into believing that by using their Social Security number and a provided special Federal bank routing number, bills and debts can be paid from a “secret” stash…
For Social Security, which day of the month you were born counts
Well over 40% of those becoming eligible to start receiving Social Security do so as soon as they reach 62 years of age. But what comes as a surprise to many is that they won’t actually receive a benefit for…
2018 Social COLA Watch: Don’t Count on 2.2% Yet
Recent comments from Social Security officials have indicated the potential for a 2018 Cost of Living Adjustment in the range of 2.2%; however, recent CPI-W trending appears to render this estimate a bit high, with more recent comments pointing to…