Social Security
Who Pays What When it Comes to Tax on Social Security Benefits
For those already drawing Social Security retirement payments, it’s no secret who is assessed Federal Income Tax on their monthly benefits. But for those aging into Social Security, it’s a good idea to understand the mechanics of how these tax…
Retaining Your Quality of Life Under Social Security Alone
America’s “savings crisis” has been discussed frequently in financial and governmental media outlets especially from the perspective of retirees without adequate–or any–savings to supplement those monthly benefit checks. Forbes contributor Teresa Ghilarducci adds perspective to this discussion with an article titled…
More on the Rumored Social Security Tax Cut
USA Today contributor Paul Davidson, in a post on www.usatoday.com, notes that “several prominent economists” downplay the effectiveness of a cut in the FICA rate from 6.2% to 4.2%, suggesting that workers might not freely spend the extra cash in their…
SSDI’s Compassionate Allowances List Expanded
CDKL5 deficiency disorder, Pitt Hopkins syndrome, primary peritoneal cancer and Richter syndrome have been added to Social Security’s Compassionate Allowances list. This list, which now identifies 237 conditions that help expedite Disability benefits for applicants, can be viewed on the…
The “Retirement Crisis”…More than Just Fixing Social Security
Anyone tuned into the news about America’s retirement system are keenly aware of Social Security’s solvency dilemma and the actions being debated in Congress to fix the problem. But according to Financial Regulation News’ Douglas Clark, the problem is broader than…
Understanding Taxes and How They’re Assessed
From Federal Income Taxes to Unemployment Taxes, with Social Security taxes (FICA) in between, the Motley Fool’s Christy Bieber explains what’s taken from your paycheck in an article posted on finance.yahoo.com’s News page. It’s a timely refresher on our tax system, given…
Common Retirement Planning Mistakes…One of them Involves Social Security
Planning for a financially secure retirement is not a simple process…and that’s why so many put it off. Even so, for those who build assumptions into their personal plans, there are several fundamentals that are often misunderstood. Nevin Adams, in a…
The Myth Goes on: Millennials Believe Social Security Will Disappear
As NerdWallet’s Liz Weston trumpets in the opening of her article posted today on postregister.com, “Few issues unite millennials like the future of Social Security. Overwhelmingly, they’re convinced it doesn’t have one.” Ms. Weston cites the results of a recent Transamerica survey…
More on When to Retire–A Helpful Chart
The general question of “When should I retire?” is one of the most frequent inquiries fielded by the AMAC Foundation’s Social Security Advisory Service. And while our general first response is, “It depends,” we do spend time discussing the reasons…
Saving for Retirement–Looking Beyond Social Security
If you’ve given substantial thought to maximizing your Social Security benefits, congratulations! Many folks haven’t, so you’re a step ahead of the pack. But what about the rest of your financial strategy for those later years? Social Security District Manager…