Social Security
Simplify Retirement Planning with Social Security’s New Statement Changes
The Social Security benefit statements that people can access on-line are about to become more helpful and informative. Kelsey Ramirez explains the changes announced by the Social Security Administration in October. A few changes to the redesigned Social Security Statement…
A Recap of the Social Security Year Ahead
2022 is hurtling toward us at a rapid clip–who can believe we’re only a week away from Halloween?–and there are. as usual, a slate of changes anyone contemplating retirement (or already in retirement) should be aware of. Yahoo.com’s Andrew Lisa…
Discussing Social Security Myths
In a YouTube post, BetterMoneyTV.com hosted a discussion on a handful of myths and misunderstandings widely held in the general public about Social Security. The discussion focused on four key perpetuated misstatements: (1) many think they must start benefits at…
The National Average Wage Index and Calculating Social Security Benefits
Lorie Konish explains the National Average Wage Index (AWI) in this informative piece. The AWI has increased every year from 1951 to 2008 with the exception of 2009 when it declined by 1.5% due to the financial crisis. This lowered…
A Raise That Isn’t and a “New Normal” Few Like
The Social Security Administration announced on October 13th that the cost of living adjustment (COLA) for 2002 will be 5.9%. That’s the highest in 40 years. So why aren’t seniors popping the champagne corks? Simple. It’s not a raise at…
Social Security Benefits Might Get Cut Early — What Does That Mean?
Vance Cariaga addresses the hype that surrounded the release of news that Social Security’s trust funds are due to be depleted one year earlier, now to be 2034. As she notes if Congress fails to address the program’s long-term funding…
Should You Insure Against Social Security Going Bust?
The yearly release of the Social Security Trustees reports always comes with a flurry of articles and financial expert advice, and 2021 was no different. This piece by Mike Obel of Yahoo Finance cites the Nationwide Retirement Institute’s 2021 Social…
America’s Safety Net: Welfare and Social Security
This Great Courses introductory post explains TANF (what we generally call welfare) and Social Security. The latter is often not well understood by the public. Jennifer Nicoll Victor of George Mason University explains it is a pay as you go…
40% of Americans Will Regret This Retirement Move
Kailey Hagen cites a new fascinating study about how people think about retirement. The Transamerica survey didn’t say that respondents weren’t saving for retirement, only that they preferred not to think about retirement investing until they were closer to their…
Will Immigrants Save Social Security and Medicare from Financial Trouble?
Chris Tomlinson of The Houston Chronicle has an op-ed that details the trouble faced by Medicare and Social Security. He notes Congress has avoided the necessary fixes for decades to instead focus on reelection. The choices include increasing taxes, reducing…