Social Security
Stop stressing about retirement
We all look forward to retirement, less stress, pursuing hobbies, visiting new places, or spending time with family and friends. However, many Americans are stressing out about retirement. A recent study by Allianz Life found most retirees are “more afraid…
Where will you be on October 12th?
Are you waiting for October 12, 2023, at around 8:30 a.m.? If so, you are not alone. More than 67 million Social Security recipients will be waiting to hear the Social Security Administration announcement of the 2024 cost-of-living adjustment. However,…
How working affects your Social Security
The Transamerica Center for Retirement Studies reports almost half of the baby boomers plan to keep working past age 70 or never retire. However, if you are working while on Social Security, it is crucial to understand the earnings test…
When are Social Security benefits taxable?
“Certain things in life are unavoidable, including dying and having to pay taxes!” Many Social Security recipients are surprised that they may have to pay taxes on their benefits. Of course, it will all depend on whether you exceed the…
Why some Americans claim benefits early
You can start receiving your Social Security retirement benefits as early as age 62; however, you are entitled to full benefits when you reach your full retirement age. And, if you delay taking your benefits from your full retirement age…
Who gets my Social Security when I die
Social Security recipients ask: What happens to my Social Security benefits once I die? Your Social Security benefits will stop; however, your loved ones may still be able to claim on your earnings record. The Social Security Administration states, “Certain…
Some of Social Security’s rules change every year
Around October 12th, the federal government will announce some of the new Social Security rules for 2024. Among those new rules will be the 2024 COLA, a higher wage cap for tax purposes, and a higher earnings threshold for earned…
How people will be impacted by Social Security cuts
In 2023, an average of almost 67 million Americans per month receive a Social Security benefit. Social Security is the major source of income for seniors. But the Social Security Trust Fund is in trouble if not resolved; there is…
Social Security rules can be complicated, many people don’t even realize when they made a mistake
Social Security benefits, on average, account for almost 40 percent of retirement income and, therefore, is an important source of income for most U.S. retirees. Social Security becomes more important the longer a person is retired, often accounting for 50…
Surpluses Running Dry. What do Americans Want to do About it?
Social Security faces an inability to pay promised benefits under current law in about 10 years. Selena Marnajian explains the issue, the more than 20% cuts that will occur for all, and the possible fixes. More income can be taxed.…