Social Security
The Question of Whether to File a Tax Return When You Have Social Security Benefits
We’re nearing the end of the 2023 tax season, and one of the frequent questions that arise in the minds of those who receive Social Security benefits revolves around the issue of whether filing a return is necessary. Depending on…
Ask Rusty – Cutting Social Security Will Make Me Lose My Home!
Dear Rusty: Politicians are talking about taking money from Social Security, but I need that money to support my daughter and pay for my home. I’m a widow, and my husband passed in 2017. I’ll lose my home if my…
The “Retire Early” Question, Again. Some Reasons on the pro side
The general question of when to file for Social Security benefits is, without question, one queries fielded most frequently by our staff here at the AMAC Foundation Social Security Advisory Service Staff. And our responses always start with the frustrating…
Longevity Literacy to improve your retirement
There are no guarantees in life, and many pre-retirees worry about what could go sideways after they retire. One of the greatest retirement fears is outliving your savings and/or investments. Surya Kolluri, head of the TIAA Institute, said, “If you…
The most effective tactics for protecting your identity
There have been 95,901 total reports of government imposter scams alone in 2022, according to the Federal Trade Commission (FTC). The Social Security Administration is the most impersonated federal government agency resulting in $46.37 million in total losses. Kurt Knutsson…
Be sure to do this before you start Social Security benefits
Deciding when to begin your Social Security benefits should not be made in a vacuum, especially if you are married. Different claiming strategies will maximize your combined income. Christy Bieber advises if you are thinking about filing for your Social…
What you should know about the national debt
The national debt level of the United States is a measurement of how much the federal government owes its creditors—in particular – it is the sum of federal government debt held by the public and intragovernmental debt. Congress puts a…
CBO estimates a funding shortfall in 2032
The Congressional Budget Office (CBO) estimates federal spending on Social Security and Medicare will outpace the revenues and the economy overall. They quoted a variety of factors, including rising costs of medical services, large cost-of-living adjustments, and the last of…
You shouldn’t rely too heavily on Social Security
Nearly nine out of ten people age 65 and older were receiving a Social Security benefit as of December 31, 2022. Social Security is the major source of income for most of the elderly. Despite the misleading information on the…
Will the Social Security Expansion Act fix Social Security insolvency?
Senator Bernie Sanders has re-introduced the Social Security Expansion Act. The newest version of the legislation comes out amid a national debate over Social Security. Along with the bill, Senator Sanders offered a copy of the letter from the chief…