Latest News
Which states need Social Security the most?
Given that Social Security represents at least 40% of nearly every senior’s income and in some cases as much as 90%, it’s no wonder that reports of the program’s financial woes are taking center stage. But where would any future…
Here are some lies about Social Security
Few would argue that Social Security isn’t a crucial financial element in nearly everyone’s retirement plan. But even given the importance of Social Security to the financial well being of over 60 million Americans, the program is too often misunderstood and mysterious…
When should you apply for Social Security? It depends.
Deciding when to apply for Social Security can be arduous, but when you start will have a big impact on how much your benefit will be. For most making that decision today, 66 is the age at which you can get 100%…
How much is enough, when it comes to retirement income?
Though advice varies,at least one study suggests that “adequate” retirement income is about 70% of what you are earning from work when you retire. One very important source of retirement income is sure to be your savings, but in a startling…
There are exceptions to Social Security’s Government Pension Offset (GPO) provision
Federal employees covered by the Civil Service Retirement System (CSRS) are normally subject to a sizable “offset” in their Social Security spousal or survivor’s benefit, even to the point of receiving no Social Security benefit at all. This FEDWeek article…
Misguided assumptions in retirement planning
Retirement planning can be a brain taxing exercise, but doing that planning with misguided assumptions, including how Social Security fits, can lead to some substantial issues when those golden years are finally reached. This article by Russ Wiles appears in…
Financial planners cautious when advising on Social Security
No self-respecting financial planner can ignore that Social Security will play an important role in a client’s retirement plan, but the advice given ranges from cautiously optimistic to pessimistic. This is the result of Social Security’s now well known financial…
Social Security’s “full retirement age” isn’t when you get the most you can get
For people retiring these days, “Full retirement age” as defined by Social Security is anywhere from 66 to 67, depending upon the year you were born. But the term “full” retirement age might imply that’s when your benefit will be…
Social Security’s disability program okay until 2028
In recent years, there has been massive growth in the number of beneficiaries In the “SSDI” (Social Security Disability Insurance) program, which has placed considerable strain on the program’s finances. The recently released Social Security Trustees’ annual report projects that the SSDI program’s…
What does that letter on your Medicare card mean?
At least until it’s changed in coming years , the identification number on your Medicare card is your Social Security number followed by a letter, such as “A”. But that trailing letter could be anything from A to W, depending upon what…