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A reason to retire early
Most of the advice you read about when to take Social Security benefits will talk about today’s increased longevity and how waiting to claim Social Security will yield considerably higher benefit payments to help you enjoy your golden years. But…
A nursing home wedding and a healthy spouse: What about Social Security?
If an elderly nursing home resident gets married to a healthy bride or groom, how does Social Security work? Well, Social Security works for the bride and groom essentially the same as if no nursing home was in the picture.…
Seniors, and Social Security’s Family Maximum
You are probably aware that minor children, disabled children and spouses are eligible for collect benefits based upon an individual worker’s Social Security record. But seniors with minor dependents should be aware that Social Security has a maximum benefit that…
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…