seniors
Do you really need $1m to retire in comfort?
We have all seen headlines stating that to retire comfortably, you need to have saved more than $1 million, but is that true? For most of us, that figure is not attainable, but that does not mean you cannot retire…
Replacement income Social Security will give you
Most financial experts suggest you should aim to replace 70 percent to 85 percent of your pre-retirement income. However, many people overlook the effect Social Security will have on their retirement income. Maurie Backman, writing for The Motley Fool, explains…
Combating Medicare Fraud
Did you know that Medicare fraud, abuse, and errors cost American taxpayers about $60 billion per year? This might be a result of scammers and fraudsters, or simple (or deliberate) mistakes by providers but, nevertheless, the cost to taxpayers and…
If you worked in the public sector, make sure you don’t miss out on this
For many years, since the 1970s/1980s, many public sector employees did not contribute to Social Security from their government paychecks, and their public sector employers did not contribute to the SS program either. As a result, those employees were not…
Solving Social Security’s Financial Woes
If you read the news at any level, you are surely aware that the nation’s premier retirement program – Social Security – is facing some serious financial issues in the near future. In fact, the latest report from the Congressional…
Thoughts About Spending Your Retirement Nest Egg
Regardless how much you have saved for retirement, when you finally put your work cloths in the closet for good, you’re likely to start worrying about how long your savings will last. That’s a relatively normal concern for most retirees,…
Veterans and the “Special Extra Credit for Military Service”
Over the years, here at the AMAC Foundation’s Social Security advisory service, we have fielded many questions from veterans about something known as a “Special Extra Credit for Military Service.” Those who contact us are usually informed of this seemingly…
How Social Security fits into Retirement Planning
The average Social Security payment for those age 65 is just a bit over $1,600 per month. When you consider that the average 65 year old typically has needs about $2,400 per month of income, it’s easy to see a…
The Social Security “Direct Express” card is changing
Although most American’s received their monthly Social Security (and Supplemental Security Income, or SSI) payments by direct deposit into their personal banking account, there are about 3.6 million beneficiaries who use the Direct Express card to receive their monthly benefits.…
The only Social Security certainty? American’s are largely opposed to change
One thing is certain, according to a recent survey: Americans are largely opposed (with only one exception) to any changes to the Social Security program. But the problem is that unless changes are made, the program will become “insolvent” in…