Social Security
If you’re going to rely on Social Security
Social Security provides the majority of income to most older adults. For about half of this group, Social Security provides at least 50 percent of their income. Social Security benefits are much more modest than many people realize. For someone…
CBO latest long-term Social Security projections
The Congressional Budget Office released its latest long-term Social Security projections earlier this week, and the news is not good. The CBO forecasts the Social Security trust fund will be depleted by 2033, resulting in a 23 percent cut in…
One more reason to wait until 70 to take your benefits
You can begin your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to…
The maximum Social Security benefit
Every year we all hear about the maximum monthly Social Security benefit, but how many seniors receive that benefit? The answer; is very few. So, how does one get the maximum monthly Social Security benefit? Christy Bieber outlines the three…
Debt-ceiling debate prompts questions on Social Security’s future
As Congress debates the vote to raise the federal government’s debt limit, Social Security reform proposals are in the mix. Although the Social Security program lifts more than 22 million people above the poverty line, the program is facing a…
Your Social Security chart can help you decide when to start your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. You are entitled to full benefits when you reach your full retirement age. If you delay…
These moves could help you protect your future benefits
If you have not retired yet, should you be thinking about Social Security? The answer is yes. You should take steps during the course of your career to make sure you get the benefits you deserve later in your life.…
Will there be Social Security reform in 2023?
Social Security will be celebrating its 88th birthday on August 14, 2023. Like most 88-year-old systems, it needs some help. We are all aware the Social Security Trust fund will run dry in 2034, causing cuts to the benefits paid…
Is it possible to wait too long to start your benefits?
If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Your monthly Social Security benefits will increase by 2/3 of 1 percent each month you wait to start your Social Security…
Sometimes it pays to get your money sooner
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. There are some good reasons to take your benefits at 62, and Maurie Backman outlines three…