Social Security
Your Retirement Age…Don’t Believe What You Hear
When you make it known that you are thinking about retirement, there are often two sources of “expert” advice about Social Security that quickly become available…your neighbor on the left and your neighbor on the right. And these sources usually come equipped…
To be forewarned is, well, a good thing!
Many retirees make the mistake of underestimating the cash flow they’ll need in their retirement years. Planning is difficult, and many folks tend to put it off or just take a summary stab at it. If that describes you, know…
5 More Facts You Might Not Know About Social Security
(Source: Social Security Administration) What kind of questions do you and your friends ask about Social Security? When do my benefits arrive? What are Social Security work credits, and do they have anything to do with the way my benefits…
One financial writer says age 64 may make most sense to start benefits
The Social Security Administration explains that, “If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62,…
Just where does retirement income come from?
Social Security is the biggest source of income for retired Americans with the average monthly benefit per retired worker (not household) at just under $17,000 a year, or $1,412 per month. Social Security and income from private and government pensions provide about 50% of the…
The Crisis in Social Security Demands Action by Congress
Conwell Hooper of the American Senior Alliance argues for action now to shore up Social Security’s finances. Currently, over 62 million Americans received Social Security benefits. Hooper calls it “frightening” when referring to the Trustees Report released last month that noted for the…
Couples need better communication on Social Security & retirement
A Fidelity couples retirement study finds a stunning failure of communication between spouses when it comes to retirement. Despite the fact that anyone can fund out his or her future benefits on Social Security’s website, 60 percent of couples and 49 percent of…
Social Security Reserves Being Depleted. Action needed now.
Sean Williams notes that in 2034, Social Security’s trust funds are projected to be exhausted. But that is all the more reason Congress and the president should address the looming shortfall sooner rather than later. Failure to act will mean…
Social Security payments after death of a spouse
There are a myriad of rules and regulations regarding Social Security benefits, and they are quite complex to the layperson. In this post, Phillip Moeller describes what happens to the Social Security benefits both spouses were receiving when one dies. …
Social Security Will Survive – A Reality Check
Russ Wiles updates his column here noting that reports and polls showing decreased confidence in Social Security are not entirely founded in reality. He notes that benefit cuts will indeed occur if no action is taken by Congress before 2034, the…