retirement
The Age-old Question: When to Claim Social Security?
This question has perplexed senior citizens for many years: what is the best age to claim Social Security? The confusion is, i expect, the result of several things. First of all, there is an eight year window during which everyone…
Thoughts on Lowering the Social Security Claiming Age
This idea seems to come up frequently… if the preferred retirement age is 62, why not lower the full retirement age (currently 67 for those born in 1960 or later)? Without considering the financial plight of Social Security, that sounds…
Straight Talk about Social Security
Since its 2016 formation, the AMAC Foundation Social Security Advisory Service has answered thousands of questions from those seeking guidance with their Social Security options. Most of the questions have been about personal benefit options (when to claim Social Security and questions about…
Trump Executive Order Serves as a Prelude to Secure 2.0’s Saver’s Match Provision
President Trump’s April 30 Executive Order, titled “PROMOTING RETIREMENT-SAVINGS ACCESS FOR AMERICAN WORKERS BY ESTABLISHING TRUMPIRA.GOV,” has been enthusiastically received by the retirement industry, where it is recognized as a significant step forward in promoting the Saver’s Match provision set…
“Uncertainty” Cited as Driver in Age 62 Benefits Claiming
Claiming Social Security benefits at the earliest possible age–62–has been the prevalent choice for many eligible Americans, and despite increased awareness of the permanent reduction in monthly benefits that comes with this step, it remains the choice for a large…
The debate over why Social Security has not been privatized remains ongoing.
There are ongoing conversations about privatizing Social Security. Some argue that individuals could have more retirement savings with privatization. However, the primary concern is the increased risk compared to the current system. The current system invests Social Security benefits almost…
The Importance of Checking Your Social Security Statement Regularly
Review your Social Security statement without delay to ensure your earnings are reported correctly each year. Any missed or understated earnings will reduce your Social Security payments. Your Social Security benefit depends on your top 35 years of earnings. If…
Can I receive Social Security and continue working?
When Social Security was originally created in 1935, you could not work and collect Social Security benefits at the same time, even if your earnings were less than the amount of your benefit. It has changed many times over the…
Social Security Insolvency: The News Got Worse
Many Seniors are already on edge about Social Security! If you pay attention to public media, you are surely aware that the Social Security Trust Funds are forecasted to run dry soon. Last year’s projection by the Trustees of the…
The Right Timing for Claiming Your Social Security Will Impact Your Retirement Finances
Determining when to start your Social Security benefits is crucial, especially if they will finance a large part of your retirement. If you were born in 1960 or later, your full retirement age (FRA) is 67. At that age, you…