Social Security
Another Stimulus? Maybe, Maybe Not. Things Social Security Beneficiaries Need to Know.
The “Heroes Act”–the follow-up to the CARES Act signed in March–has been passed by the House but is under debate in the Senate at this point. The outcome is uncertain, but the rumor mill is heating up with respect to…
Thoughts As You Look Ahead to Retirement
Social Security’s long-term financial picture is in the news quite a bit these days, and many seniors are beginning to look hard at what role those benefits will play in their post-retirement situation. This South Florida Reporter article by takes…
Social Security’s Mythical Demise Continues to be a Concern for Many
We’ve discussed this point several times via posts on this website, but the concern that Social Security will not be around for future retirees just keeps coming up. The latest incarnation of this long-standing concern was highlighted in a post…
The Evaporating Dream of Retirement
With surveys reporting as many as 40% of working adults writing off the likelihood of a financially secure retirement, it’s little wonder that concerns are growing for the future. The Motley Fool’s Kailey Hagen, in a post on their website,…
Social Security Insolvency Barreling Toward us - Now 2030?
For years the Social Security Board of Trustees has warned that 20-25% benefit cuts for all recipients were to start in either 2034 or 2035. The surpluses of program would be exhausted then and thus necessitate such deep cuts. Few…
Early Social Security Disbursements: Most Basic FAQs answered
As a result of the COVID-19 outbreak, the American Booksellers Association has heard from members all around the country who are struggling financially, including those who are near retirement age (between the ages of 62 and 70). If you are…
Can Social Security Survive the COVID-19 Crisis?
Social Security’s long-term health has been a problem and has made news for some time, though little is being done in Congress to make it more solvent. The Covid-19 pandemic will make the finances of the program worse, and perhaps…
Is $5,000 now in exchange for delayed Social Security benefits later a sound idea?
What if there were a way to thread today’s divisive partisan needle to get more cash into the hands of Americans who need it without adding to the $25 trillion national debt? Alas, there is such a proposal, and Shahar…
On What Did Social Security Spend Over $1 Trillion in 2019?
The Social Security Administration (SSA) spent $1.06 trillion in calendar year 2019, the largest single outlay category in the entire federal budget at around 25% of all spending. The Social Security Trustees issue a report each April that among many…
A Preview of Potential Social Security Changes
As we’ve reported on this website persistently over the past several years, Social Security is facing a long-term solvency issue. Not bankruptcy, as the rumor mill frequently suggests, but rather the inability to fully pay the benefits promised to beneficiaries…