Social Security
Regarding Portions of the 6/6/2024 Social Security Subcommittee Hearing on Trust Funds
We all know that Social Security is on a path to trust fund insolvency by 2035. The hearing points out that the Biden Administration’s new budget will make things worse. Nothing is being done right now to correct the situation.…
How to get a Fairly Accurate Estimate of Your Future Social Security Benefits
Knowing a number close to what you will actually receive in benefits is important for retirement planning. If you are between 50 and 65 it’s time to find out this information. Read this article by Trevor Jennewine published by The…
Will your Social Security Benefits be Enough to get by ?
Social Security benefits vary greatly depending on your career earnings. Will even those being paid the highest benefits have enough? Since Social Security is designed to replace approximately 40% of your income, probably not. Read this article by Christy Bieber…
What is a Reliable Source of Retirement Income?
Social Security offers a guaranteed benefit although that amount may be reduced at some point. Dividend stocks can also be a potential source of income. Read this article by Maurie Backman published by The Motley Fool on June 5, 2024.…
Will your Retirement Budget Meet your Needs?
Financial Planning for retirement is challenging. Some parts of the equation are known and some need to be analyzed and estimated. It’s best to look at different scenarios. This article by Mark Henricks for smartasset published on June 5, 2024…
A Puzzle to Solve : What is the best Social Security claiming age for YOU !
Social Security recipients can choose to take benefits anytime between ages 62 and 70. So how do you sort all that out and make the right decision for yourself? If you take it before Full Retirement Age it will be…
A Perspective on Social Security COLA Increases
Let’s face it. We all like to get a large raise. This includes seniors receiving Social Security benefits. The only problem is, when we get a large COLA increase, that means inflation is out of control. Please read this article…
Handling Social Security Fraudsters
Knowing how to spot a scam is very important, as scammers are always coming up with new angles. You may be contacted by someone claiming to be from Social Security who is just fishing for personal information. It never hurts…
Ask Rusty – About Social Security’s “guaranteed” annual cost-of-living adjustment (COLA)
Dear Rusty: I’ve been reading a lot lately about speculation on what next year’s benefit increase will be, and it seems like most of the experts are suggesting a range of 2.5% to 3%. My neighbor says don’t worry about…
What Causes Occasional Double Social Security Payments in one Month?
In May 2024 SSI recipients received two payments, one on May 1st and one on May 31st. This occurred because the first of June fell on a weekend. Social Security’s payout calendar causes this to happen sometimes. As a result…