Social Security
Delaying Retirement: The Importance of Staying Relevant
Wanting to delay retirement as a strategy to bolster finances for those later years is becoming more and more the norm. But for many, it’s not that easy, given what many see as diminishing opportunities for older workers. “Their bosses…
Strategies for Earliest Retirement
If you’re of the mindset that retiring earliest is best, but your long-range financial projections don’t seem to support it, there are some strategies you might want to consider to achieve your goal. U.S. News & World Report contributor Craig Stephens…
“Suspended Social Security Number” Scam Alert
It sounds much like the process used by credit card companies when you account is determined to be involved in a fraud situation…your account is suspended and you need to contact them for resolution. That’s good for credit cards, but…
Social Security Reform and Widow Benefits
A brief issued this month by the Center for Retirement Research at Boston College.analyzes the quandary of widow benefits vs. the benefits available to a surviving spouse in a dual-earning situation. As explained in the brief, “a widow from a $100,000…
Social Security’s asset reserves explained
Not since 1982 has Social Security run a deficit (pay more in benefits than is collected in payroll taxes) until 2018. For 35 years, then, asset reserves have built up, as explained by Sean Williams in this Motley Fool article,…
Five key tips to make the most of your Social Security benefits
The Motley Fool’s Selena Maranjian has these five tips for folks nearing retirement. One, know your full retirement age. It could be between 65 and 67, depending on birth year. Two, know how much income to expect. Three, learn how to…
Social Security myths that could cost you dearly
Over 60% of Social Security beneficiaries rely on those benefits for at least half their income, according to the Social Security Administration. Therefore it is so important to make the most educated decision you can about when to start collecting. Katie Brockman…
Warnings about cuts to Social Security and Medicare need to be taken seriously
Social Security is running a deficit this year by paying more to beneficiaries than is collected from worker payroll taxes. This is projected to continue until 2034, when all past reserves will be exhausted. Medicare reaches insolvency even sooner, in 2026. Both…
Federal Government options for dealing with Social Security’s ailing financial health
Sean Williams of The Motley Fool lists eight options the federal government has at its disposal for dealing with the looming shortfall in Social Security expected in just over a decade. Some include raising the retirement age to means-testing as well as…
FACT: Social Security and Medicare are NOT stronger now than a year ago
President Trump routinely states that his administration is making Medicare and Social Security stronger. But is that so? The Social Security Trustees report the trust fund will be exhausted in 2034 and benefits would have to be cut over 20%…