Social Security
Op-ed: Don’t Raise Retirement Age. But is that advice even possible?
That Social Security needs reform is generally not in dispute. Reasonable people on all sides usually differ over how to shore up the program, not whether it needs shoring up. But Alicia Munnell of MarketWatch curiously seems not to acknowledge…
Inflation Poised to Give Social Security Recipients Huge 2023 Boost
It’s what all people are talking about–inflation. It hurts, and those on fixed incomes bear the brutal reality that they have no way to augment their incomes. No extra shift to pick up. No overtime. Their checks are the same…
Op-ed: Social Security can push the elderly into poverty when a spouse dies
Max Richtman, president and chief executive of the nonprofit National Committee to Preserve Social Security and Medicare, has a lengthy opinion piece here stating that survivor benefits are no longer adequate for many 21st century widows and widowers. He describes…
Over Half of Americans Are Making a Huge Social Security Mistake
It’s a scary but accurate headline. Christy Bieber of The Motley Fool notes far too many people leave the workforce and claim Social Security benefits for the wrong reason. Bieber cites research from the Schroders Global Investor Study that found…
Social Security’s Problems Should be Above Politics and Pandering
A plethora of bills are routinely introduced in each Congress, mostly by Democrats, promising higher benefits, whether in the form of cost of living adjustments, one-time payments, or permanent minimum benefit increases. The problem with nearly all, which are intentionally…
Social Security to Enter the 21st Century
It might seem odd that business by phone and electronic signatures is not standard practice for the Social Security Administration (SSA) in the year 2022, when such is commonplace at so many entities in the private sector. Dave Kovaleski of…
Would You Share Your Home To Earn Income in Retirement?
Social Security replaces just 40% of pre-retirement income. Financial planners and experts have advised for years that savings and pensions (or 401k plans) are needed to make up the difference so people can enjoy a fruitful retirement over mere existence.…
Five Expenses May Offset Social Security Payment Increases
Kelsey Ramirez of Fox Business notes the highest cost of living adjustment (COLA) in 40 years for Social Security recipients, at 5.9%, still has a downside. Increases are designed to protect buying power, but as she notes, many seniors are…
Social Security 2100 Act - Just Old Wine in a New Bottle?
Alicia Munnell of MarketWatch dives into Rep. John Larson’s (D-CT) 2021 version of his 2019 Social Security 2100 Act. The new bill produces only about half the revenue as the 2019 proposal, mainly because the payroll tax is not raised.…
Senior Conundrum: Inflation is Higher Than Upcoming COLA
What is one to do? Yes, the 5.9% cost of living adjustment scheduled to take effect January 1, 2022 is the highest in 40 years for Social Security recipients. But prices are rising faster than that. Kelsey Ramirez analyzes different…