Social Security
More taxes, less Social Security: Gen X facing a leaner retirement than Boomers
A new report from the Urban Institute states Social Security’s financing problems could pose serious threats to retirement plans of Generation X (1966-1975) and Xennial (1976-1985) Americans. Those generations will retire with a higher incomes than the average retiree 40 years…
Social Security’s Problems a Bad Reason to Start Benefits Early
“Don’t bet against Social Security” is the message from Steve Vernon writing in Forbes. He echos what most experts routinely say– do not start benefits early unless necessary. Vernon does a detailed analysis showing how people generally lose when claiming their…
Why Do Women Get Less Money From Social Security Than Men?
Social Security benefits are less for women than men. But why? Maurie Backman puts his finger on three causes of the phenomenon. They include women earning less over their lifetimes mainly due to the “wage gap”, a complicated but well documented…
How Social Security rules harm the two-earner household
Marlene Satter of BenefitsPro addresses the issue of women in the workforce and how that has changed since Social Security was enacted in the 1930s. Women now remain single for longer, and many more women are employed outside the home. However, she notes Social Security’s…
Key Social Security factors so few people know
Four factors that contribute to the amount you receive in Social Security benefits are these: work history, age, date you begin claiming benefits, and marital status. However, according to a survey from the Nationwide Retirement Institute, just 9% of non-retired…
Understanding Full Retirement Age
Between early retirement age, full retirement age, and maximum retirement age, it’s no wonder near and current retirees get confused. Full retirement age (FRA) is the age when one qualifies to claim full Social Security retirement benefits and is based on birth year. Retiring prior…
How Much Will Social Security Pay Me?
Christy Bieber of The Motely Fool pulls back the curtain to explain to folks exactly how one’s Social Security benefits are calculated. Few Americans know what is involved, though it is not any one or any agency’s intention for benefit calculation to…
Want to get paid more in Soc Sec? Keep working
“If older workers stayed on the job longer, they could do a lot for the labor shortage — and improve their financial prospects in the bargain.” That’s the message from Mitchell Schnurman, business columnist at The Dallas Morning News. This piece…
Social Security & insolvency – Invisible no more
Robert Wiseman of The Boston Globe has an op-ed that seeks to shine the light on a most important issue that has largely been invisible to voters– the insolvency of Social Security. He interviews Judd Gregg, a former GOP Congressman from…
You can undo taking Soc Sec early – if the rules are followed
Work, earnings history, and claiming age are the three primary factors that determine a Social Security benefit. A majority of Americans choose to claim retirement benefits at age 62, the earliest possible age. However, many soon discover, after making the…