Social Security solvency
Will fixing Social Security fall to the Millennial generation?
With the many perspectives on how the Social Security dilemma will play out, this article by Kerry Hannon for Yahoo Finance ponders on a scenario where Millennials take the hit. Read here… As an example of the leading thoughts on…
Another View of Social Security Insolvency
By now we all know that if Congress does not act the Social Security trust fund will run out of money in approximately a decade. There are several reasons for this including a decline in the working population and longer…
Viewpoints on Privatization of Social Security In the News Again
Since the Social Security Board of Trustees issued the 2024 Report on the status of the Old-Age and Survivors and Disability Insurance trust funds earlier this month, the tempo has been building regarding the program’s future financial problems. Nothing in…
Your Monthly Social Security Benefit Payment–the Benefit of Waiting
One of the reasons often cited for claiming Social Security benefits at the earliest opportunity is the rumor of the program’s impending “bankruptcy.” With the proliferation of explanations hitting the media in recent weeks, it’s hopeful that the false assumption…
Dispelling the rumors
We have all seen those social media posts warning that Social Security benefits will cease to exist in 2035; they are false. What is true is that even if Congress does nothing about the insolvency issue, Social Security will still…
Women want a secure retirement
In a recent report published by the National Institute on Retirement Security (NIRS), more than three-quarters of women surveyed said the typical American worker doesn’t earn enough to save for a secure retirement. The survey also concluded that women want…
Counting on Social Security
The 2024 Social Security Trustee report found if Congress does not act, the combined trust fund reserves will be depleted by 2035. At that time, the income coming into the program will only be able to pay 83 percent of the…
Ask yourself these three questions
Social Security is the largest source of income for most beneficiaries, replacing only 33 to 55 percent of earnings for the average worker. So, it is essential to make the most of your benefits. Katie Brockman suggests you ask yourself…
Why are more individuals starting Social Security
In April, more than 72 million Americans collected Social Security benefits, according to the Social Security Administration’s monthly statistical snapshot, an increase of 195,000 from March. Why the increase? Is it because more individuals reached 65 and older, or is…
A Common Social Security Myth Explained
One of the most common and perpetual myths is that Congress stole money from Social Security. Although there are many reasons why Social Security is having financial woes at this time this is not one of them. Please read this…