Social Security
Should the U.S. follow France and up the retirement age?
Social Security’s full retirement age has only ever been changed one time in 1983, and by just two years. Proposals to increase it further are often discussed, but they seem to go nowhere, despite the program’s financial troubles and looming…
More Reasons Why Social Security Must be Saved
Although this article comes at the subject from a somewhat different angle, the message is still crystal clear…the financial plight of America’s Seniors is such that an across the board cut in benefits would be devastating. The statistics presented in…
The Persistent Question: When Should I File for Benefits?
The AMAC Foundation’s Social Security Advisory Service has fielded early 9,000 individual requests for help since its January 2016 launch. And while many of the requests we’ve fielded deal with the complexities of Social Security’s myriad rules and regulations, like…
Examining the “$1 Million” Retirement Goal
Will it be enough? Christy Bieber, posting in the Sioux City Journal, takes a look at how attaining this goal–if one even can–will work out for you in retirement. She cites the impact of withdrawal guidelines, inflation, and longevity as factors that…
Saving For Retirement: Time to Take Stock
The Motley Fool’s Maurie Backman, in a post on their website, describes the difficulties many future retirees may face as a result of inadequate financial preparation for their post-career years. Citing statistics that show nearly of Americans woefully behind the curve…
Claiming Benefits Before Age 62
Most folks assume age 62 to be the absolute earliest age one can begin to draw benefits from Social Security. While that’s generally true, there are (as always) some exceptions to this rule. The Motley Fool’s Kailey Hagen, in a post…
Social Security Isn’t Doomed for Younger Generations
Tyler Cowen writing in Bloomberg dismisses the notion that younger folks will not receive Social Security. Cowen acknowledges the funding shortfall that will occur around 2034 with the program being incapable of paying out full, promised benefits. He cites respected researcher Charles Blahous of…
Who Taxes Social Security Benefits?
It’s a rude awakening to find out you owe federal income tax on some of your Social Security benefits. Since the thresholds were never indexed for inflation in 1983 and 1993, more taxpayers are ensnared each year. But thirteen states also…
5 Sources of Retirement Income That Aren’t Taxable
One way to keep more of your money in your golden years is by incorporating non-taxable income into your retirement plan. Maurie Backman lists some examples: municipal bonds, HSA withdrawals, and life insurance cash-outs. Social Security sometimes escapes taxation, as long…
Women and Social Security
Among the interesting statistics Liz Skinner notes in this Investment News article are these: women represent more than half of all Social Security beneficiaries aged 62+ and two-thirds of beneficiaries over the age of 85. Because women live longer than men and spend…