Social Security
Fixing SSA’s overpayment practices
As you may recall, the Social Security Administration has been under investigation for how they handled recouping overpayments from beneficiaries even when the government made the mistake. The newly appointed Social Security Administration Commissioner Martin O’Malley said: “that in the…
Are you ready for retirement ?
You envision your retirement as endless golf games, pickleball, and traveling, but are you prepared financially for retirement? Nowadays, retirement could last 20 to 30 years; have you planned for your money to last this long? How do you know…
The latest 2025 COLA estimates
The latest 2025 Social Security COLA predictions are out, and it seems to be on track to be less than this year’s 3.2 percent; however, the official announcement is not until mid-October. Analysis by the Senior Citizens League estimates the…
Should you wait to claim Social Security
When to claim your Social Security benefit is a personal choice. Although most financial advisors will tell you to wait until you are 70 to claim your benefit, however under certain circumstances, it is better to claim your benefits early.…
Social Security is on the ballot
We are all aware that the Social Security and Medicare trust funds are on the road to insolvency in less than a decade from now. However, no detailed plan to solve this issue has yet to be released by either…
Retirees continue to work
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of…
You don’t necessarily have to wait to claim your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
The maximum Social Security benefit is out of reach for all but a few workers
In 2024, the highest Social Security retirement benefit for an individual starting benefits is $4,873 per month, according to the Social Security Administration. But how many people achieve the maximum Social Security benefit? In reality, very few Americans will claim…
Don’t claim Social Security early for the wrong reasons
According to a report by the Employee Benefit Research Institute, almost half of the U.S. households will run short of money in retirement. Another report found only 18 percent of Americans retired with enough money to maintain their standard of…
Billionaire’s Tax, Independent Voters, and Social Security
Phillip Wegmann looks at the current state of politics and Social Security. It’s an issue that Democrats normally have in their back pockets, but Independent voters are evenly divided on whom they trust on the topic in 2024. Both Biden…