Social Security
Older Voters & Social Security: New poll results
Lorie Konish of CNBC explains the looming insolvency of Social Security and then notes it is an “up for grabs” issue for both parties in the 2024 election. Support on this issue is essentially tied between Democrats and Republicans. Konish…
The $600 Payment & COLA Scams Gain Traction. Experts Warn Watch Out.
Social Security scams are hardly new, though the level of sophistication is increasing. Jason Collins reports that the Social Security Administration (SSA) is coming out swinging on the latest one time $600 payment scheme. He notes the agency was receiving…
Yes. Social Security Retirement Age Should Be Raised
Rachel Greszler, a Senior Research Fellow at The Roe Institute, makes the case for raising Social Security’s full retirement age to 69 or 70 as a way to stave off insolvency. When the program was enacted, life expectancy at birth was 61…
Actuaries state Social Security cut will be $325/mo starting in 2033 without changes
That’s right, for the average Social Security recipient, benefit cuts of $325 per month begin in 2033 absent reform, according to the head actuaries for Social Security and Medicare, who testified before a House panel last week on the two safety net…
Social Security is in big trouble. Will a commission help?
It’s hardly a new idea– set up a blue ribbon panel of experts to tell us what we already know and propose a mix of the only three possibilities to help a program in financial distress– raise taxes, cut benefits,…
The Harsh Realities of Living on Social Security
It’s common knowledge that the average monthly Social Security benefit these days is slightly over $1,900, and there’s also a fairly common understanding that the program’s retirement benefits are intended to replace about 40% of a retiree’s average career earnings.…
Tomorrow is World Elder Abuse Awareness Day (WEAAD)
A recent post on IRS Newswire focused attention on the rising threat of impersonation scams targeted at older adults by scammers pretending to be government officials and attempting to obtain sensitive, personal information including social numbers. The details of this…
An Overview of Survivor Benefits
Retirement benefits are available to spouses, ex-spouses, children, or dependent parents of someone who worked and paid Social Security taxes before they died. It can be complicated, but the Social Security Administration has taken great pains to clearly explain what…
Social Security’s “Do Over” Options (They’re Not Secrets, Just Not Well Known)
Statistically, 42% of men and 48% of women claim their Social Security benefits at age 62, the earliest age to claim retirement benefits. Often, after taking this step, these folks realize that it may have been better to wait until…
COLA Watch–2025 Edition
Continuation of the recent trend in CPI numbers has led forecasters to suggest that the 2025 Social Security COLA could fall into the 2.57% to 3% range, according to a post by Ted Godbout on the National Association of Plan…