AMAC Foundation
Your spouse has passed away. What do you do about Social Security Survivor Benefits?
When your spouse predeceases you, you may be eligible for survivor benefits. There are options to consider, especially if you have not yet started your own Social Security benefits. You can take one benefit and switch over to the other…
Will taking Social Security at age 62 give you enough income to survive?
This article by Christy Bieber published on May 24, 2024 by Yahoo Finance articulates different scenarios for different retirement ages. Taking Social Security early will give you a reduced payment but more years of that income and waiting will give…
Another View of Social Security Insolvency
By now we all know that if Congress does not act the Social Security trust fund will run out of money in approximately a decade. There are several reasons for this including a decline in the working population and longer…
Important information about your Medicare Eligibility
This article is written by Diane Omdahl for Forbes and published on May 23,2024. Depending on your situation, you may not automatically qualify for Medicare, especially premium free Part A. As Diane points out it is important to think about…
An exception to the Social Security payment schedule
By Aliss Higham on May 24, 2024 for Newsweek Social Security payments are very consistent with the payout dates. Supplemental Security Income payments are deposited on the first of the month. Retirement benefits are paid on the 2nd, 3rd, and…
Dealing With a Social Security Myth…The Claim that Too Many Get Unearned Benefits
You’ve probably heard the comment, or perhaps seen it on a social media site…Social Security would be in better shape if people who haven’t contributed would stop getting benefits (or some version of the same argument). As discussed in a…
A Common Social Security Myth Explained
One of the most common and perpetual myths is that Congress stole money from Social Security. Although there are many reasons why Social Security is having financial woes at this time this is not one of them. Please read this…
Repealing WEP and GPO…More Legislative Push
In a post on asppa-net.org, the American Society of Pension Professionals & Actuaries provides a recap of actions in two states–Alaska and Louisiana–advocating for repeal of Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) based on the…
Social Security Fundamentals for Married Couples
Spousal benefits and survivor benefits are two of the murkier aspects of Social Security. Not having a clear understanding of the eligibility rules accompanying these areas can cause married couples to miss out on benefits that have been written into…
Potential changes may call for a reassessment of Americans retirement plans.
Some things that may affect retirement plans are an increase in the cost of living and the government making changes to Social Security. A significant majority of workers expect Social Security to be a major source of retirement income. Other…