seniors
Old views of traditional retirement are gone
When do you know when it is time to retire? The answer to that question will vary depending on your generation. The older soon-to-be retirees said, “They’ll retire when they emotionally feel ready.” However, the younger generations cited “becoming debt-free…
Social Security is on the ballot
We are all aware that the Social Security and Medicare trust funds are on the road to insolvency in less than a decade from now. However, no detailed plan to solve this issue has yet to be released by either…
Retirees continue to work
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of…
A successful retirement involves consistent behavior
What makes a successful retirement? Is there a magic number that we all need to have saved before retiring? Or is my dream of a rewarding retirement just that, a dream? Financial expert Dave Ramsey says, “It doesn’t have to…
You don’t necessarily have to wait to claim your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
The maximum Social Security benefit is out of reach for all but a few workers
In 2024, the highest Social Security retirement benefit for an individual starting benefits is $4,873 per month, according to the Social Security Administration. But how many people achieve the maximum Social Security benefit? In reality, very few Americans will claim…
You Cannot Live on Social Security Alone
The disparity is huge – the maximum Social Security benefit for 2024 is $4,873, while the minimum 2024 SS benefit is a mere $50.90. And it sure would be a lot easier to live on the higher amount than the…
Overpayments: A Continuing Social Security Controversy
It has been widely reported that Social Security is trying to recover billions in overpaid benefits. Indeed Congressional hearings have been held with Congress drilling Social Security on the processed being used and, especially, the reasons that some benefits are…
When Should You Claim Social Security?
Ahh, the age old question, and the one most frequently asked of the AMAC Foundation’s Social Security Advisory Service – “When should I claim my Social Security?” This Bankrate article by James Royal, Ph.D., explores that question in depth, revealing…
Social Security: The power of delaying
In simplistic terms, the earlier you claim Social Security the smaller your benefit will be; the longer you wait to claim the higher your monthly payment. Reduced SS retirement benefits can be claimed as early as age 62, and your…