Social Security
Deficits, Debt and how They Relate to Social Security – A Primer
Jeff Szymanski works in political communications at The Association of Mature American Citizens. He wrote this piece to explain the deficit, the debt, and federal spending in an easily understood way. The federal budget deficit (amount of overspending for one fiscal year) is predicted…
Relying solely on Social Security is an unwise choice
Trevor Gerszt, writing for NewsMax Finance, explains how Social Security works and why it is not working. The problem is the looming insolvency date of 2034 as projected by The Social Security Trustees. Without congressional action before then, benefits cannot…
Maximizing your Medicare and Social Security benefits
Lee Barney’s piece details some concepts to keep in mind in making two of the most important financial decisions of one’s lifetime– when to take Social Security and Medicare. In a nutshell, one should strive for 35 years of income…
A ‘Q and A’ on all things related to taking benefits at age 62
Tom Margeneau answers a number of questions in this piece in The Arizona Daily Star about taking benefits at age 62. Among them include: Are more people taking benefits at 62 these days? Why didn’t I get a check for…
What does “The Fed” have to do with Social Security?
The Federal Reserve (Fed) is in charge of the nation’s monetary policy. Most folks pay scant attention, though the media reports when the Fed raises interest rates (tightening the money supply) to dampen inflation and slow economic growth a bit. …
Five “tweaks” to Social Security figures for 2019
There are no wholesale changes to the Social Security program for 2019. But, as Matthew Frankel of The Motley Fool writes, there are five modest adjustments that take effect on January 1, 2019 as follows: first, the cost of living…
Social Security’s Future: Not the Program Grandpa Knew
That Social Security is unsustainable as we know it long-term is hardly news. Martin Feldstein’s opinion piece in MarketWatch explains how the increase in life expectancy, the decreased birth rate, and the payroll tax rate not having changed since 1983 have combined…
Early, Full, and Maximum Retirement Ages Defined & Explained
While one can claim retirement benefits as early as age 62, the monthly amount will be reduced. One need wait until full retirement age, also known as normal retirement age, to receive 100% of one’s benefit. This article details the gradual…
Make Social Security “Hip” with Millenials
Survey after survey reveals that Millennials are resigned to the idea that Social Security, as we know it, might not be there during their retirement. As Jamie Hopkins, professor of retirement planning at The American College of Financial Services, points out in…
These Hated Social Security Rules are Likely Here to Stay
Sean Williams of The Motley Fool discusses three Social Security rules he believes are not going anywhere. First is taxation of benefits. Though it comprises just 4% of Social Security revenue now, this is expected to increase over time. Congress…