Social Security
A 2% Social Security COLA for 2020? “Fuggedaboutit”.
Dan Caplinger of The Motley Fool does not see even a 2% cost of living adjustment (COLA) for Social Security recipients to be announced this October for 2020. He notes it would take a huge run up in September prices…
Social Security: Why Cutting Benefits Is a Necessary Evil
Sean Williams explains that the long term sustainability of Social Security must be addressed soon. One way to do this is to bring in more revenue, either by raising the payroll tax from its current combined 12.4% on employees and…
Social Security for Dummies
The yellow “For Dummies” books were a mega hit in the early 1990s. People loved the way complex topics and issues were explained in easy to understand English. Now enter Social Security, a complex and widely misunderstood program. Having taught…
Americans Are Clueless About Social Security’s Filing Rules
Citing a recent survey by GOBankingRates where nearly 40% of respondents thought they could file for Social Security retirement benefits at age 60, Maurie Backman states it is imperative for folks to get schooled on the program’s filing rules. This…
Certain Debt Can Reduce Your Social Security Benefits
As Katie Brockman reports in this article, some of your Social Security benefits might be withheld if you get behind on certain types of loans. Most creditors, such as credit card companies and loan agencies, cannot go after Social Security…
Are You Thinking About Social Security the Wrong Way?
Kailey Fralick of The Motley Fool tackles some of the misconceptions people have about Social Security in this article. One is folks believe it will replace more pre-retirement income than it will in fact do. Two is folks do not…
Millennials Underestimate Social Security
The belief that Social Security won’t be there for Millennials (those born between 1979 and 2000) is widespread. But does it match reality? Liz Weston of NerdWallet notes the real fear is that a hopelessness about retirement savings overall will…
The Age When Most People Start Saving for Retirement
“Saving for retirement is a lifelong process,” says Katie Brockman of The Motley Fool. A report from Charles Schwab states that 1/3 of Americans think they’ll need between $1 million and $3 million saved to retire comfortably. A recent survey…
Retire a Millionaire on an Average Salary
A million ain’t what it used to be. Beyond that line it is worth noting it isn’t even much at all. Consider that the Social Security Administration says that a third of today’s 65-year-olds are expected to live until at…
Social Security Fix Proposed
Franklin Roosevelt said this of The Social Security Act: “[it] does not offer anyone … an easy life — nor was it ever intended so to do.” Thus from the very beginning in the 1930s the program was only designed…