Social Security solvency
Social Security benefits and what may happen in the worst-case scenario
You hear people talking about how Social Security will not be there for them when they retire, even when waiting in line for a table in a restaurant. It is good that people are talking about and aware of the…
Debunking the Rumor of Social Security’s Impending Demise
Mainstream media is consistent in many ways, with many of the more prevalent headlines suggesting that Social Security is destined to vaporize about a decade from now. Most folks who have paid attention understand the fallacy in this suggestion, but…
What Does Social Security Have to do with the House Speaker Fight?
Alex Gangitano, writing in The Hill, alludes to the fact that GOP Rep. Steve Scalise (R-LA), a leading contender to be House Speaker, supports setting up a bipartisan commission to address the national debt, including looking at the Social Security…
Halting Social Security From Clawing Back Overpayments Will Further Hurt its Finances
Social Security’s finances are in poor shape. That makes it important that the program do what it can to conserve funds and snag all the revenue it can get. One way it’s been trying to go about that is aggressively…
Save for retirement so you don’t have to worry
The Social Security Trustees announced the Social Security trust fund will only be able to pay about 80 percent of scheduled benefits starting in 2034. No wonder with headlines in the media that 59 percent of workers worry that Social…
Why Americans do not like these possible Social Security funding solutions
Yes, the Social Security Trust fund is in trouble; however, Social Security will not run out of money since current workers fund retiree beneficiaries. Although current workers pay into the program via payroll tax, the revenue will not be enough…
Why some Americans claim benefits early
You can start receiving your Social Security retirement benefits as early as age 62; however, you are entitled to full benefits when you reach your full retirement age. And, if you delay taking your benefits from your full retirement age…
How people will be impacted by Social Security cuts
In 2023, an average of almost 67 million Americans per month receive a Social Security benefit. Social Security is the major source of income for seniors. But the Social Security Trust Fund is in trouble if not resolved; there is…
Another Viewpoint on the Primary Cause of Social Security’s Solvency Problem
Speaking virtually at the 2023 Harkin Retirement Security Symposium earlier this week, Social Security Administration chief actuary Stephen Goss presented a counterargument to the premise that declining birth rates are the primary driver of the program’s looming insolvency. Noting that…
Thoughts on the Pessimism Expressed by Gen Zers
It’s been widely reported that the Generation Z population cohort–those born in the 1997-2012 range–have a dismal view of Social Security’s future. In fact, according to MarketWatch reporter Alessandra Malito, “almost half of the people in that group don’t think…