Social Security
How to Retire Rich Without Social Security
Social Security is facing long term financial challenges, with benefits cuts to all due to take effect in 2034 or 2035 without congressional reform before then. Nilus Mattive of The Daily Reckoning suggests five strategies that would allow one to avoid…
Social Security – Broken and in need of repair
Mum’s the word from The Trump Administration and all 24 Democrat presidential candidates when it comes to fixing Social Security. But why? Each of the candidates is intelligent and has surely been briefed on the annual report of The Social Security…
Does taxing the rich more to save Social Security make sense?
Sean Williams presents a solid reason for and a solid reason against raising the tax cap on Social Security wages to fix the program’s long-term financial woes. Currently workers pay 12.4% in payroll taxes (split evenly between employee and employer)…
Social Security billing problem with Medicare premium deductions
About 250,000 Social Security recipients have not had their correct Medicare Advantage or Part D premiums deducted properly for five months. The Social Security Administration (SSA) just discovered the problem. That means a quarter of a million people will soon…
Younger Workers Ready to Give Up on Social Security
In yet another in a slew of polls in as many years, pessimism about Social Security abounds. According to Northwestern Mutual’s 2019 Planning & Progress Study, 22% of non-retired Americans think it unlikely that Social Security will be available to pay them…
Memorize these three Social Security rules
Since most people will rely on Social Security benefits to at least some degree in their golden years, maximizing those benefits should be a goal. Doing so means understanding three main rules, according to Maurie Backman. First, even though age…
How Working During Retirement Will Change Your Social Security Benefits
There are a myriad of reasons that people choose to work during retirement, from enjoyment o necessity to somewhere in between the two. According to a survey from the Insured Retirement Institute, about 33% of baby boomers say they plan to work…
Smaller Social Security Raise Predicted in 2020
Forget a repeat of the 2.8% cost of living adjustment (COLA) Social Security recipients received this year, according to Dan Caplinger’s analysis of inflation data for this year to date. He explains the CPI-W index used to calculate the COLA…
Four Social Security Myths That Need to Die
Social Security is an important federal program for everyone who contributes and/or receives benefits. Yet, as Kailey Fralick writes in this piece, misconceptions still abound. Four in particular are these, all of which are incorrect: First, you get your full Social Security…
Record High Reliance on Social Security
Social Security has been wildly successful as an anti-poverty program, but it was never intended to become a primary source of income for older Americans. The program only replaces about 40 percent of pre-retirement income. The Gallup Organization’s new survey, however,…