Social Security
“Fixing” Social Security–Understanding the “Raise the Cap” Approach
You’ve heard it before, and you’ll hear it again: “Just eliminate the Social Security payroll tax cap and the solvency problem goes away.” In fact, you’re hearing it right now via deliberations on HR-860, “The Social Security 2100 Act” now…
7 Reasons Sen. Warren’s Social Security Plan Will Fail
Sean Williams of The Motley Fool takes aim at Sen. Elizabeth Warren’s (D-MA) plan to increase beneficiary payouts by $200 a month, or $2,400 a year. Her plan would also update a number of rules, and set minimum monthly benefits at 125%…
How To Increase Social Security Payments After You’ve Retired
There’s no magic bullet to boost Social Security benefits or secret stash of cash for folks despite on-line articles that suggest these things. Essentially the ways to maximize benefits are or should be well known. This piece by ABC news…
Best Advice for Financial Success
With Social Security on replacing about 40% of pre-retirement income and its long term financial health imperiled due to congressional inaction, saving money has never been more important. Katie Brockman reports on a survey from New York Life. The top five pieces of…
5 Reasons to Retire as Early as You Can
With so many articles stating to delay Social Security and to work as long as possible, Selena Maranjian’s piece here from The Motley Fool provides a different viewpoint. For those who have saved fairly diligently, early retirement is possible. She dives…
Congressional Budget Office Update to Social Security spending
The Congressional Budget Office (CBO) has issued its annual update to its long-term projections on Social Security. Click The latest update to read the full 90 page PDF document or click here for the brief highlights posted by the National Association of Plan Advisors. Two noteworthy…
Scam continues and cost grows
According to the Federal Trade Commission, there have been close to 73,000 reports on the “Your Social Security number has been suspended” scam in the first six months of 2019, with $17 million in reported losses. Cody Miller writes the informational piece in…
Is Sen. Warren trying to turn an earned benefit into a welfare program?
John Cogan, senior fellow at Stanford University’s Hoover Institution and author of “The High Cost of Good Intentions: A History of Federal Entitlement Programs,” pens this op-ed in The Wall Street Journal highly critical of Sen. Elizabeth Warren’s plans for Social…
How Social Security could change under three Democratic presidential candidates
Lorie Konish of CNBC profiles what Sen. Elizabeth Warren, Sen. Bernie Sanders, and former Vice President Joe Biden have in mind for Social Security. Each seeks to expand Social Security benefits, and each raises taxes on the wealthy to pay…
Suburban mom loses $20,000 to Social Security scam
Contributor John Matarese tells the story of how a suburban mom was convinced in a phone call to withdraw $20,000 from her bank accounts and then purchase Target gift cards. The card numbers were then read to the caller over the…