Social Security solvency
A new year but the same solvency issues linger
A new year, but the same old problems linger. Social Security continues a problematic path with looming insolvency and benefits cuts as soon as 2033; that is only eight years away. What about Medicare? Medicare Part A (Hospital Insurance or…
Musk and Social Security
Congress needs to make a Social Security resolution in 2025. The road to insolvency looms closer than ever. Can Musk help this process along? Read this article by Daniel McCarthy for New York Post here… As an example of the…
A Common Social Security Mistake
It is well known that, if Congress fails to act, the Social Security Trust Fund will be depleted by 2035. This has caused some anxiety among upcoming retirees about when to take benefits. Those who take benefits at 62 are…
Social Security: The insolvency problem & a balanced solution to it
What’s all this talk about Social Security’s problems all of a sudden? The problem is not new. The program was last “rescued” in 1983, and the reform measures were designed to buy solvency for about 75 years. But many factors,…
A Deeper Dive Into the Idea of Eliminating Seniors’ Tax on Social Security Benefits
It often comes as a tax season surprise for new Social Security beneficiaries. For current beneficiaries, it’s an annual annoyance. No matter how it surfaces in your financial management process, it’s something you notice, and typically not in a favorable…
Will Frank Bisignano Help or Hurt Social Security?
Alessandra Malto for MarketWatch discusses whether or not President-elect Trump’s pick as Commissioner of Social Security will help the agency. On one hand, he is a successful business executive and will be running the business of Social Security so it…
What is the Average Social Security Benefit?
Selena Maranjian for The Motley Fool explains the average Social Security benefit over the years and why it is important to develop other streams of retirement income. Read here… As an example of the leading thoughts on reforming Social Security,…
History of Social Security
Lallan Schoenstein takes a look at the development of Social Security over the years and analyzes where we are today and why we need to protect it. Read here… As an example of the leading thoughts on reforming Social Security,…
New Debate on Social Security’s Trust Funds. How exactly is Social Security financed?
Lorie Konish for CNBC points out that new leadership in Washington will be taking on the dilemma of how to fix the program. Senator Mike Lee of Utah renewed questions on how the program is funded. Lee criticized the way…
Detailed Explanation of the Social Security “Fairness” Act
Andrew G Biggs gives insight into why public employees who don’t participate in Social Security are not being cheated when their Social Security benefits are offset because of their pensions. When you understand how the Social Security formula works, you…