Social Security
Yes income tax is due on Soc Sec benefits in some cases
Seniors are often stunned to find out they must pay income tax on some of their Social Security benefits. It’s not always avoidable, but some planning can help. Katie Brockman’s easy to understand piece here explains the thresholds for when…
Eye on the Pie: More money for Social Security
Morton Marcus is an economist, writer and speaker. His piece takes readers through Social Security’s long-term financial problems, attributing them to the following: 1. We’re living longer than expected. 2. People are retiring too early. 3. Congress gave an increase…
Happy 84th birthday to a broken program
Social Security turns 84 years old this week. President Roosevelt signed the law into effect in August 1935. But just as you can only put “black tape” on something so many times before it truly stops functioning as it once…
This Social Security scam is just evil
Michelle Singletary of The Washington Post reports on ever more bold schemes to get people to hand over personal information. This latest is a somewhat typical “go buy gift cards right now” scheme. She shared the following tips from the…
Is It Too Soon to Estimate My Social Security Benefits?
Since Social Security often winds up being a substantial income source for many in retirement, knowing what your benefits will look like ahead of time can help in retirement planning. The Social Security Administration (SSA) issues annual earnings statements that…
What “cutting” Social Security means and doesn’t mean
Sean Williams writes a thoughtful piece which explains that “cutting” Social Security, as many say must be done to shore up its long-term solvency, does not have to mean direct monthly benefit cuts. Needless to say that would be hugely…
One of the Least Understood Pieces of the Social Security Puzzle
AMAC Foundation’s Social Security Advisory Service has to-date helped well over 7,000 folks nationwide navigate Social Security’s intricate and detailed maze of rules and regulations. The questions are wide-ranging, and often get into deep research about how these rules apply…
How Much Money Will You Need in Retirement?
Well, the short answer might be, “Do the math!” But it’s easier said than done, and any who have tried have given up in the face of so many unknowns. But there is a sipler approach that you might consider,…
The Fraud Warnings Just Keep Coming!
“Scammers have claimed to belong to various federal, state, or local law enforcement agencies and they employ technology called “spoofing” to manipulate the caller IDs.” So says the warning issued by the Siskiyou County (California) Sheriff’s Office. The warning explains…
The Pros and Cons of Early Filing for Social Security Benefits
It’s a persistent question, and we deal with it frequently in the AMAC Foundation’s Social Security Advisory Service, and there are multiple views on the correct answer. Is you’re grappling with this question, a post on myfox8.com may help you…