Social Security
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Changes are coming
The Social Security Administration is changing how you access online services, including your account called My Social Security account. The Social Security Administration said they made these changes to simplify the sign-in experience and align with federal authentication standards. For…
The risk of running out of money
Inflation is putting “more retirees at risk of running out of money,” according to a recent study published by Boston College. Who will be seeing this risk? Is it the wealthy retirees or the less-than-wealthy retirees? The less wealthy retirees…
Ask Rusty – Should I Retire at 65 or 67? And What About Earnings & Taxes?
Dear Rusty: I’m just trying to figure out how to determine whether to retire at 65 or 67 and, if I retire, approximately how much could I make outside of my Social Security without being overly taxed. Signed: Thinking About…
Should you go back to work if your Social Security benefits aren’t keeping up?
When Social Security recipients were asked in a recent survey if the most recent COLA increase was sufficient, 62 percent of respondents said no, and 44 percent said they were considering returning to work to boost their income because their…
Good news and bad news for retirees
What will the 2025 COLA be? We will not know until mid-October when the Social Security Administration releases the amount based on this year’s third-quarter inflation figures compared to the previous year’s. However, that has not stopped experts from estimating…
Social Security Spouse Benefits
Are you wondering when is the best time for your spouse to claim benefits? This can be a complex decision. Generally, spouse benefits are available if 100% of the lower earning spouse’s Full Retirement Age benefit is less than 50%…
Increased COLA Percentages in the Future?
There is a possibility of changing the way Cost of Living Adjustments are calculated in the future. It would depend on lawmakers agreeing to use a different method – relying on the Consumer Price Index for the Elderly (CPI-E) instead…
Are you Collecting Social Security benefits early and Still Working? You need to Know About the Retirement Earnings Test!
Many retirees who are under Full Retirement Age, getting benefits and still working do not understand how the Retirement Earnings Test works. If you earn over the limit ($22,320.00 in 2024) Social Security will take back $1.00 for every $2.00…
A Tale of Two Presidents: Options for Saving Social Security
Both presidential candidates pledge to save Social Security but they are espousing different paths to this end. Should the funding come from “other sources”? Currently Social Security is funded by ss taxes, interest on bonds and income taxes paid on…