Social Security
Dealing With Hypocrisy: A Rebuttal to Complaints About Medicare Premiums and WEP/GPO
Creators Syndicates’ Tom Margenau, in a post on Tucson.com, uses his extensive experience as a Social Security Administration official to address two fundamental (and frequently recurring) complaints voiced by program beneficiaries questioning rulers that, in their opinion, are unjust. Margenau…
Social Security, Economic Stability, and the Relationship to Senior Women
A post today on the National Women’s Law Center website examines the role that Social Security benefits play in ensuring the financial support of women in their retirement years. Specifically, the article explains that while women comprise more than half…
There’s a clear advantage to claiming Social Security at a certain age.
Are you aware that the age you file for your Social Security benefits matters? You can start receiving your Social Security retirement benefits as early as age 62 but at a reduced amount. However, if you delay taking your benefits…
Social Security comes with its own rules and stipulations
Retirement planning involves coordinating your retirement savings vehicles, such as pensions, annuities, 401(k), IRAs, Thrift Savings Plans, and Social Security. Most individuals who have paid FICA taxes on their wages may qualify for Social Security benefits based on their own…
Op-ed: Lies caused the Social Security crisis
“Equities for me, but not for thee” is the best quote from this op-ed by Brent Arends. He pens a sort of “what if” Social Security funds had been invested in higher yielding equities over low performing Treasuries since that…
Op-ed: We don’t have 10 years to think about Social Security’s insolvency problem
Brenton Smith, policy adviser for the Heartland Institute and frequent writer on Social Security issues, states, “The passage of time is financial cancer to Social Security.” Smith recaps what a decade or more of both political parties doing nothing has…
Social Security Cuts Coming. Advice is Bulletproof Retirement NOW
The Social Security cuts of 23% across the board coming in 2033 (give or take) is little news to those who follow that news, but it is understandably news to others. Financial experts have advice for those getting ready for…
Knowing the Retirement Age Chart is Key
Citing updated data from the Center on Budget and Policy Priorities (CBPP), Sean Williams notes Social Security lifts 21.7 million people out of poverty annually, nearly 15.4 million of which are aged 65+. The CBPP estimates that the poverty rate…
COLA Expectations Must be Tempered for 2024
Trevor Jennewine reviews the large 8.7% cost of living adjustment (COLA) granted to Social Security beneficiaries in January 2023. It was the result of very high inflation not seen in several decades. But inflation has slowed greatly, which will translate…
Is Gen X the broke generation?
In a recent survey of individuals born between 1965 and 1980, Gen Xers found 56 percent of them said they have less than $100,000 saved for retirement, and 22 percent said they have no retirement savings. Almost two-thirds of the…