retirement
The Role of Life Expectancy in Retirement Decisions
When contemplating your retirement it is crucial to focus on an important question – “When should I take my Social Security benefits?” While there are a number of factors to consider when making that decision, don’t overlook the role of…
Is the Social Security issue even worse than reported?
The latest (June) report from the Trustees of Social Security predicts that the SS Trust Funds will be fully depleted in 2033, unless Congress acts soon to reform the program. But, according to at least one retirement research outfit, the…
What Would a 23% Cut in Social Security Mean?
The Trustees of Social Security have warned Congress: There will be a 23% cut in everyone’s Social Security benefit in 2033, unless Congress reforms the program. Hopefully, Congress will act soon to prevent cuts from happening – but what if…
Some Sacrifice needed to save Social Security
As most Americans know from media articles on the topic, the Social Security program is forecasted to experience financial trouble soon. The Social Security Trust Funds, which now contain over $2.7 trillion in assets, will be depleted in 2033, according…
Demystifying the Federal Payroll Tax
Nearly all workers pay it, but very few understand it – the Federal Payroll Tax. With few exceptions,[1] everyone who works and earns pays the federal payroll tax from their earnings – that’s about 175 million American workers. The tax, first…
Your Social Security benefit won’t be cut in 2026
If you are worried about your Social Security payment going down in 2026, you likely should not be. Your monthly benefit is based upon your lifetime earnings while working and, except for cost-of-living adjustments (increases), your monthly payment will not…
About the Annual Cost of Living Adjustment (COLA)
Although you may have seen early predictions, it is too soon to know for sure how next year’s Cost of Living Adjustment (COLA) will increase your monthly Social Security payment. That news will actually be revealed in mid-October, after completion…
Paper Social Security Checks Are Changing to Electronic Payments Soon
The Social Security Administration is changing how benefits are paid for about half a million beneficiaries. About 520,000 people, who now receive their monthly Social Security payment by a paper check received in the mail, will need to switch to…
Ask Rusty – I’m Turning 70. When Should I Apply for Social Security?
Dear Rusty: I have a very simple question: I will turn 70 on September 20th and want to start my Social Security benefits in September. What month should I file my claim? Have there been delays with the reductions in…
Social Security: Once upon a time – and Today
Once upon a time, there was no real social security in the United States of America. Oh, there were a few early 19th century attempts at public programs to limit poverty, especially for the elderly. However, all of these early…