retirement
How many Americans will rely solely on Social Security
Will Social Security alone provide you with enough income in your retirement? In a recently released report from NerdWallet, 30 percent of Americans said their Social Security benefits will provide enough money to live on during retirement. Alessandra Malito asks:…
Why retirement savings have stalled
Nearly nine out of ten people age 65 and older were receiving a Social Security benefit as of June 30, 2024. Among those beneficiaries age 65 and older, 12 percent of men and 15 percent of women rely on Social…
Social Security changes in 2025
Social Security benefits are a steady source of income for retirees. However, like all things, the program changes annually. Although we will not know the exact changes until later this year, Maurie Backman outlines what areas of the Social Security…
Your taxes and Social Security
The Social Security Trust Fund will be insolvent within the next ten years, causing benefits to be cut by 23 percent unless Congress reforms the program. The current presidential candidates both say they will not touch the program; however, the…
The path to the highest possible Social Security check
What does it mean when someone says they have maxed out their Social Security check? It means no matter how much money they made during their career, they cannot receive a Social Security check higher than $4,873 per month. Yes,…
Aim to be less reliant on Social Security COLAs
The official 2025 COLA will be released by the Social Security Administration (SSA) in mid-October 2024, usually around October 15th. However, the announcement may not be what seniors are hoping for. Why? Experts estimate a lower COLA than the previous…
Ask Rusty – Does Some of my Social Security Payment Include Repayment of my Contributions?
Dear Rusty: I have a question about my Social Security benefits. Would I be correct to assume that part of the monthly Social Security income I get is a repayment of what I contributed to the fund while I was…
Alternate Sources of Retirement Income
Social Security is not enough to live on, so a mix of income resources makes sense. Gabrielle Olya for Go Banking Rates explains here… Notice: The link provided above connects readers to the full content of the posted article. The URL (internet…
Rethinking the idea of retirement & working age
Vivian Lam has an interesting piece here in The Conversation that challenges traditional ways of thinking about chronological age, cognitive age, and functional age. She notes retirement ages will have to rise and that Denmark is planning on raising its…
Is There a Retirement Crisis?
Spencer Look and Jack VanDerhei of Morningstar present a nuanced piece here to address the question about a U.S. retirement crisis. The pair use the new Morningstar Model of US Retirement Outcomes to analyze the likelihood that today’s workers will have adequate…