Social Security
Consider your spouse when electing to take Social Security
Dan Caplinger stresses the importance of a married couple taking into account spousal benefits before electing to take Social Security too early. Claiming benefits at any time before age 70 will yield a lower benefit than otherwise waiting. If single…
Mum’s the Word on Social Security this Campaign Season — But why?
Jeff Szymanski works in political communications at The Association of Mature American Citizens. He wrote this piece to explain why the Social Security issue is absent from this year’s campaign. You would think with Social Security running a deficit (spending more on benefits than it is…
Myth: Congress spends Social Security funds on whatever it chooses
Kudos to Sean Williams of The Motley Fool for taking on such a widely held misnomer that Congress uses Social Security surpluses as its own personal “piggy bank”. In three words, it’s patently untrue. Williams explains how excess Social Security funds…
Some seniors will continue to struggle even with a raise
Maurie Backman of The Motley Fool notes that many seniors still struggle to make ends meet on Social Security. Over-reliance on benefits is the main reason, as benefits only replace about 40% of pre-retirement income. Cost of living adjustments have been…
What does a 2.8% COLA mean to most?
The 2.8% cost of living adjustment announced on October 11th is the highest since 2012. It will take effect on January 1, 2019. The average retired worker now receives $1,422 a month. But after their “raise,” the average retiree would net…
Social Security & Insolvency – What Does It Actually Mean?
Jeff Szymanski works in political communications at The Association of Mature American Citizens. He wrote this piece in an effort to explain insolvency with an easy to understand example. Insolvency “The inability to pay one’s debts” is the dictionary definition of insolvency. …
Estimating Retirement Income Needs…An Area of Particular Import to Women
According to a post by MarketWatch’s Alessandra Malito, “(o)nly slightly more than a third of women know how much to expect in retirement income.” Consequently, they face potential financial problems when they reach that point, especially if they’ve been unable to reach…
Attention Grandparents: Talking Points for Your Grandkids
The Motley Fool’s Sean Williams, in a post on their website, provides a series of key discussion topics for grandparents to use to help their grandchildren comprehend this thing called “Social Security.” At the top of his list is one of…
Thoughts on Removing the Tax Cap to Save Social Security
Although it’s been a fairly constant part of many Social Security reform proposals, the removal of the annual limit on earnings subject to FICA tax as a way to address the program’s solvency issue continues to stall in the face of…
Understanding the Complexities of Disability in SSDI amd SSI
In an article titled “What’s Really Keeping People With Disabilities Unemployed” posted on www.themighty.com, Karin Willison provides a detailed account of the myriad complexities faced by beneficiaries under America’s disability support programs. As Disability Employment Awareness Month winds to an end next week,…