Social Security
Would Americans support lowering Social Security payments?
The Social Security Trustees project the Social Security Trust Fund will deplete its reserves by 2033; upon insolvency, all beneficiaries will face a 21 percent across-the-board benefit cut. The policymakers have only nine years until insolvency and must take action…
Does your state tax retirement income?
Do you know if your state taxes your Social Security benefit and retirement income? Yes, some states do not tax your Social Security income, and some states do, but it is a modest amount. So, what about other forms of…
Is it a good idea to invest your Social Security in the markets?
Is retirement all about numbers, or are there more factors to consider when deciding at what age you should retire? Is it better to wait until age 70 to maximize your Social Security benefits, or take it early and invest…
You may not want to wait until 70
You can start your retirement benefit at any point from age 62 up until age 70. Your benefit will be higher the longer you delay your start date. Although starting your benefits at age 70 will maximize your monthly income,…
Ask Rusty – Should my Husband File and then Suspend His Benefits?
Dear Rusty: My financial advisor used a computer program which told my husband to take his SS at age 68, then suspend it after a few months. What I understood was if my husband started and then stopped taking distributions,…
Option for Increasing Social Security Revenue
Senator Ron Wyden says imposing Social Security tax on wealthy incomes above the current limit is the way to fund Social Security until the end of the century. Jake Johnson for Common Dreams explains here… Similar to many consulting organizations,…
An Open Discussion about Aging in America
Alessandra Malito for Market Watch has a frank discussion about retirement in America and Social Security’s part in it. What can people do at any age to prepare for retirement? Read here… Similar to many consulting organizations, the Association of…
Repercussions of a Social Security Benefits Cut
If Social Security”s insolvency issue is not resolved benefits will be cut by 21% in 2033. What does this mean for retirees living on Social Security and also others who count on Social Security as part of their retirement planning?…
Good News and Bad News concerning latest COLA update
The Cost of Living Adjustment for 2025 is a hot topic right now. Ahead of the actual announcement of the COLA increase percentage, there are many perspectives, thoughts and analysis of what that percentage may be. The latest update predicts…
Retirement Planning
Let’s explore how long $750,000 in savings plus Social Security will last. Read the numbers crunched by Donna LeValley for Kiplinger here… The link provided above connects readers to the full content of the posted article. The URL (internet address) for…