Social Security
Ask Rusty – Can I Voluntarily Suspend My Social Security Payments?
Dear Rusty: My wife retired in 2015 and is receiving Social Security. I am past my full retirement age, and I still work. I recently filed for Social Security benefits and received my first payment earlier this month, and my…
Considering Drawing Benefits at Age 62? Here’s Something More to Think About.
The earliest year of Social Security eligibility is age 62. Most folks approaching that age know this, and it is still the most popular age for initial filing. But one thing that tends to get lost in the excitement of…
Understanding Taxation of Social Security Benefits
For many folks, slightly more than half of all retirees receiving Social Security benefits, the annual federal income tax filing process reawakens the annoyance of having Social Security benefits included in their taxable income. Of course, what makes the process…
Origin of “Ticket to Work” Program Celebrates 50 Years of Progress
Social Security’s Ticket to Work (Ticket) Program, the portion of the Rehabilitation Act of 1973, “supports career development for people ages 18 through 64 who receive Social Security disability benefits (SSDI/SSI) and want to work.” As the Social Security Administration celebrates 50…
Are higher taxes the only solution to Social Security insolvency?
We are all aware – I hope you are – that the Social Security Trust fund will be depleted by the end of 2033, forcing benefit cuts of 20 percent in 2034 if Congress cannot find a solution. So, what…
The clock is ticking for Congress
According to American writer Jack Kornfield, “The trouble is you think you have time.” The reality is we do not. Congress has until 2033 to come to a bipartisan agreement about Social Security, or there will be an automatic cut…
It’s all about realistic expectations
Social Security is a primary income source for most people aged 65 and older. You can start your Social Security retirement benefits as early as age 62. However, if you start to receive your benefits early, your monthly Social Security…
What the five GOP candidates said about raising the retirement age
During the 3rd Republican candidates’ debate, the third rail of American politics – Social Security- was discussed. The difference in the approach of the five attending candidates in solving the Social Security and Medicare insolvency issue was on display. The…
Spousal benefits from Social Security
Being married comes with benefits – Social Security benefits – that is. When a worker files for retirement benefits, the worker’s spouse may be eligible for a benefit based on the worker’s earnings. The spousal benefit can be as much…
It’s a crisis that could have been easily avoided
Americans know, as you should by now, that the Social Security Trust fund is in trouble. The trustees reported the combined funds will pay 100 percent of scheduled benefits until 2034. In 2034, total fund income will be sufficient to…