retirement
Retirement Saving: There’s a Hidden 401(k) Feature You May Not be Aware of
Saving for retirement is one of the most frequently discussed topics in financial planning media these days, with the common assertion that nearly everyone needs to do more to prepare for this life phase. CNBC Personal Finance Reporter Kate Dore,…
What Is the Best Age to Claim Your Social Security?
This depends on your personal situation. If you are married, this decision should be made with your spouse. Look at your expected longevity (family history), your other retirement accounts, and how heavily dependent will you (or your survivor) will be…
When Will You Get Your Social Security Payment in May 2025?
Social Security does not send everyone’s payment out on the 1st of the month. The 1st is when Supplemental Security Income (SSI) payments are received. You receive your Social Security payment based on the day of the month that your…
Have you ever Wondered How Social Security Works?
There are many facets to Social Security from retirement benefits to disability benefits to survivor benefits. It’s important to understand how this information may apply to you. This article by Kristin Hitchcock for MSN offers a comprehensive look at these…
One Perspective on Social Security and Attaining Wealth
Scott Galloway, New York University and podcaster views the Social Security tax as regressive because of the tax cap on earnings. He suggests that affluent people such as himself should not receive Social Security and that the program should be…
“Original Medicare” vs. Medicare Advantage – A national picture
In this interesting article, a study found that most seniors living in rural areas tend to rely on the federal government’s “traditional Medicare – Part A and Part B” to provide their healthcare insurance, versus opting for enrollment in private…
Declining mortality rates do not bode well for Social Security
“Mortality rates are declining, and living beyond 90 is in reach for many, as medical advancements have made it possible to live longer than ever before.” That statement is the key thrust of this Fortune magazine article about how changing demographics are…
When is Medicare Part A free?
For most seniors, the FICA payroll tax they pay when working includes an amount for Medicare’s “Part A” – which is Medicare coverage for inpatient hospitalization services. Those payroll contributions, made for at least 10 years of working, result in…
When Is the Right Time to Retire?
Ah, retirement! That wonderful time of life that we dream about all during our working years, but which also presents a dilemma as we approach the end of our working career. When is the right time to retire? Do we…
About Claiming Social Security Early
One of the most frequently asked questions at our AMAC Foundation Social Security Advisory Service is “when is the best time to claim Social Security?” Our answer, of course, is “It depends.” It depends on your financial need, your health…