retirement
Is there an ideal age to claim Social Security?
Is there an ideal age to claim Social Security? Well, recent research on this topic suggests that age 70 is the best age in most circumstances but, curiously, that is not the age at which most beneficiaries actually claimed. A…
Are you going to be able to retire at 65?
A majority of pre – retirees are adjusting their retirement strategies and deciding to put retirement off until later than 65. Many financial advisors are suggesting people wait to take Social Security until later to increase their payments as much…
About Taxation of Social Security benefits
It catches a lot of retirees by surprise – they claim their Social Security benefits unaware that collecting those benefits may very well result in a surprise income tax obligation when they submit their income tax to the IRS. Basically,…
Ask Rusty – Older Husband and Working Wife Seek Guidance
Dear Rusty: I am 74 years old, retired and receiving Social Security. My wife will be 65 in January of 2025. Our hope was to start paying off some credit card expense by her receiving SS when she turns 65,…
About Increasing Social Security’s Full Retirement Age
With Trust Fund depletion looming on Social Security’s financial horizon, there is no shortage of ideas for resolving the program’s financial woes to avoid a potential across-the-board cut in everyone’s benefit in less than a decade. Included in most discussions…
Medicare Advantage plan Prior Authorizations often delay critical Cancer treatments
Through very aggressive marketing, Medicare Advantage plan enrollments have grown exponentially in recent years, with now over half of all Medicare beneficiaries enrolled in a Medicare Advantage plan. FYI, Medicare Advantage (MA) plans are offered by private insurance companies as…
Is Social Security “Broke Beyond Belief?”
According to a self-described “retirement planning evangelist” the American Social Security program is “broke beyond belief” and may not be able to pay full benefits as soon as 2034. That, of course, is a rather harsh, yet understandable, description of…
How Medicare options can affect your healthcare budget.
Medicare options need to be explored before you make any decision beyond original Medicare, which is Part A (hospitalization) and Part B (healthcare). You need to be aware there could be a penalty for not signing up for Medicare during…
When do Americans typically take Social Security benefits?
Americans take Social Security benefits anytime between age 62 to age 70. Exactly when you should start is a personal decision depending on your individual situation. Also, it’s interesting to see what the average benefit is at different ages. Many…
When Should You Claim Social Security?
It’s the question our AMAC Foundation Social Security Advisory Service is most frequently asked – “When should I claim my Social Security benefits?” And the underlying hidden inquiry is “how can I maximize my Social Security benefit?” Truth is, there…