Full retirement age
Thoughts on Avoiding the Age 62 Filing Impulse
Statistically, filing for Social Security at the earliest possible age (62) has always been popular, and still about a third of all new filers are that age. The proportion of early filers has been declining in recent years, doubtless because…
Social Security Reform: A “Rocks and Hard Places” Story
Everyone who has been tracking the progression toward insolvency facing Social Security knows the broad scenario…without Congressional action, the Trust Fund reserves reach zero in less than a decade from now and benefits face an across-the-board cut of more than…
Subtle Missteps That Can Lead to You Short-Changing Yourself on the Benefits Front
Even today, it’s surprising that many folks still are not fully aware of some of the very basic aspects that govern the amount of benefit they will be able to draw from Social Security. For example, our AMAC Foundation Social…
Will Anticipated Voter Turnout Dictate the Future of Social Security Reform?
In analyzing the Social Security reform positions taken by President Biden and former President Donald Trump, Frank Gunter (professor of economics at Lehigh University) speculates that their priorities for resolution of the steadily progressing deterioration of the program’s finances would sacrifice…
There’s a clear advantage to claiming Social Security at a certain age.
Are you aware that the age you file for your Social Security benefits matters? You can start receiving your Social Security retirement benefits as early as age 62 but at a reduced amount. However, if you delay taking your benefits…
Social Security comes with its own rules and stipulations
Retirement planning involves coordinating your retirement savings vehicles, such as pensions, annuities, 401(k), IRAs, Thrift Savings Plans, and Social Security. Most individuals who have paid FICA taxes on their wages may qualify for Social Security benefits based on their own…
Knowing the Retirement Age Chart is Key
Citing updated data from the Center on Budget and Policy Priorities (CBPP), Sean Williams notes Social Security lifts 21.7 million people out of poverty annually, nearly 15.4 million of which are aged 65+. The CBPP estimates that the poverty rate…
Important milestones to remember while retirement planning
There is no strict retirement age in the United States; however, there is one to begin collecting your Social Security benefits. You can start your Social Security retirement benefits as early as age 62; however, you are entitled to full…
Social Security mistakes you’ll want to avoid
Social Security can be confusing; however, it is a program that addresses many situations. There are high-income workers and low-income workers, early retirees, and late ones. Plus, there are children, spouses, ex-spouses, and widows and widowers to consider. So, it…
How to fix Social Security before benefits are cut
Many Americans think since Congress resolved the debt limit crisis by suspending it until 2025, all is well with the federal funding of government programs. That is not the case. For the past thirteen years, the Social Security program has…