Social Security
Retirement Decisions and How They’re “Framed”
“Framing”…are ensuring that all aspects of a decision are clearly understood, is critical to the success of financial decisions you’ll make for retirement. Using Social Security filing as an example, economics editor for American Public Media’s weekly “Marketplace Money” show Chris Farrell…
The Multiple Phases of Retirement
Bruce Helmer and Peg Webb, financial advisers at Wealth Enhancement Group and co-hosts of “Your Money” on News Radio 830 WCCO on Sunday mornings, take a look at life in retirement, breaking this life phase into three separate sub-phases. From…
The Growing Impact of Benefit Taxation
It’s an annoying part of the Social Security landscape, but also a likely permanent one. We’re talking about the taxation of Social Security payments to beneficiaries with income exceeding limits that haven’t been changed since 1993. This means, of course…
Scams, scams, and more scams…You need to be Advised!
It seems there’s a never ending series of frauds being perpetrated across the country these days, and Social Security beneficiaries are often targeted in these situations. Just today, for example, the news streams brought attention to two such scams in progress, one…
Spousal benefits — it requires thought and a good conversation
Diane Pearson, a wealth advisor at Legend Financial Advisors in Pittsburgh stresses the importance of being diligent when it comes to spousal benefits. Spouses are generally entitled to an amount equal to half of the higher earner’s benefits. Once the…
Social Security for Family Leave? It’s Controversial.
Sen. Marco Rubio introduced a bill that would allow parents to cash in a portion of their future Social Security benefits early to finance family leave. The proposal is to give new parents the option to take at least two months…
Some seniors not signing up for Social Security benefits at all
In this Social Security and You column, Tom Margineau addresses three issues from readers. Two wrote in that they never applied for Social Security benefits, despite one being age 73 and the other 85, mainly because they felt they did not…
Who is the typical Social Security beneficiary?
Social Security provides benefits to 62 million Americans each month. But who are they? Sean Williams of The Motley Fool looks at three metrics to get to who the “average” or “typical” recipient is. In short, it is a 70-year old retired…
New Report: Social Security Trust Fund Depletion Could Be Even Earlier
The Social Security Trustees Report predicts promised benefits can be paid until 2034. At that time automatic, across the board cuts for all of 21% would have to be applied, unless Congress acts sooner to shore up the program’s finances. …
Economic boom not enough to solve Social Security’s problems
Those who like economic forecasting, numbers, and aggregate data will enjoy this piece in The Motley Fool. While acknowledging Social Security’s troubles and the looming insolvency by 2034, Sean Williams asks if it could be that the economic boom and 4.1% GDP…