Social Security
3 “Must Dos” Before You Claim Social Security
Social Security is a critical source of income during retirement. Before signing up for benefits, Maurie Backman of The Motley Fool suggests folks first commit their full retirement age to memory. Only 26% of Americans could correctly identify that age according to a recent…
Rep. Larson engaging with the GOP to pass historic Social Security reform
Rep. John Larson (D-CT) has been working on Social Security issues for most of his 20 years in Congress. He cites the statistic of 125,000 Social Security recipients per congressional district to underscore the importance of the program. The Social Security Trustees predict…
Take these four steps before leaving the workforce for good
Christy Bieber suggests checking off each of these four tasks from your list before leaving the workforce for retirement. First is to pay off debt. Second is figure out what your income will be. This might include Social Security, employer-provided pensions, and…
Author makes case for “writing off” Social Security
The central message of this piece written by The Motley Fool staff for Fox Business News is this: to avoid financial stress and disappointment in retirement, do not rely on Social Security benefits too heavily. True, there will always be some form of Social…
Social Security has three sources of revenue
Social Security revenues are derived from three primary sources, as explained by Dan Caplinger in this piece. First, the program collects payroll taxes from employees and employers. Second, it collects income taxes on the portion of Social Security benefits that are included in taxable…
Can Social Security Save Your Retirement?
Maurie Backman notes an estimated 33% of workers 55 and over have less than $10,000 set aside for the future. One of the prevailing views held by so many is that Social Security will save folks in retirement. The problem…
Millenials’ pessimism on Social Security
Abigail Narbe works at a think tank in D.C. Metro and wrote this op-ed piece on Millenials and their views on Social Security. Narbe points out 8 in 10 Millennials don’t expect Social Security support when they retire. Congress narrowly averted an irreversible collapse…
Slashed lifetime benefits – a heavy price for claiming Social Security early
Maurie Backman stresses that people filing for Social Security retirement benefits at the earliest age of 62 need to have all the information to make as informed a decision as possible. Few know you will lose 6.67% of your benefits per…
What will Social Security look like in 2035?
Social Security’s Trust funds (surpluses accumulated over the past several decades) will be exhausted in 2035. Across the board cuts of around 20% will occur for all beneficiaries at that time absent congressional action before then. Dan Caplinger notes the…
Bernie Sanders on Social Security: 10 things the self-described Socialist believes
Sean Williams of The Motley Fool lists presidential candidate and Independent Vermont Sen. Sanders’ views on Social Security. For much more detailed information on each, click here for the full article. The list of 10: 1. Sanders doesn’t believe Social Security…