savings
Is there a “magic age” to claim Social Security benefits?
With anxiety building over the much-reported depletion of Social Security’s Trust Funds by 2032, many are suggesting that those eligible should claim Social Security as soon as they are old enough to do so. The implication being that if Social…
Finally, some Congressional Bipartisanship! Will it work this time?
Unless you just don’t watch the news, you are already aware that Social Security is (as has been warned for decades) facing financial difficulties which could culminate in a catastrophic 22% cut in everyone’s SS benefit in about 2033. All…
America’s Retirement Problem: Social Security was built for an economy that now barely exists
Whether or not you like President Trump, you must admit that he does not shy away from using his business acumen to tackle America’s problems. No where is that more evident than the President’s recent mention that he is evaluating…
Time to Pay Attention to Social Security’s Financial Issues
In this US News & World Report article, the author describes a dichotomy – Social Security recipients will get a benefit increase next year (2027), but the program’s looming financial issues may ultimately lead to smaller monthly payments, and retiring…
Social Security Insolvency: An Intergenerational Dilemma!
These days, the media is full of stories about Social Security’s financial status, with much emphasis on possible benefit cuts beginning in about the year 2032. And with that widespread coverage, many are nervous about the nation’s primary retirement program…
Fear Shouldn’t be a Factor When Deciding about Social Security
Here at the AMAC Foundation’s Social Security Advisory Service, we regularly field questions asking when Social Security should be claimed. And, with all the media coverage about potential benefit cuts in 2032 due to the program’s financial reserves being depleted,…
Reform Social Security by Taxing Corporations who use Independent Contractors?
Here at the AMAC Foundation, we are acutely aware that Congress must reform Social Security soon to avoid an across-the-board 22% cut in every beneficiaries monthly SS payment. That was emphatically clear in the recent report by the Trustees of…
A Social Security Journey with “Ask Rusty” and the AMAC Foundation
The AMAC Foundation[1] is a nonprofit organization dedicated to the support and education of American seniors. “Ask Rusty” is the Foundation’s popular and nationally syndicated Social Security advice column. Here’s more about the AMAC Foundation’s journey and the “Ask Rusty”…
What do you fear more – Dying or running out of money in retirement?
According to a recent survey of retired seniors, most of us fear running out of money during retirement much more than we fear death! A somewhat stunning 67% of seniors worry more about their financial security than any other issue…
Ask Rusty – Can my spouse file at 63 and then get half of mine when I later claim?
Dear Rusty: My spouse is 63 and I am 65. I am planning to take my Social Security benefits at age 70. Can my lower earning spouse take his own benefits now, and then – when I take my full…