Social Security
Some seniors will continue to struggle even with a raise
Maurie Backman of The Motley Fool notes that many seniors still struggle to make ends meet on Social Security. Over-reliance on benefits is the main reason, as benefits only replace about 40% of pre-retirement income. Cost of living adjustments have been…
What does a 2.8% COLA mean to most?
The 2.8% cost of living adjustment announced on October 11th is the highest since 2012. It will take effect on January 1, 2019. The average retired worker now receives $1,422 a month. But after their “raise,” the average retiree would net…
Social Security & Insolvency – What Does It Actually Mean?
Jeff Szymanski works in political communications at The Association of Mature American Citizens. He wrote this piece in an effort to explain insolvency with an easy to understand example. Insolvency “The inability to pay one’s debts” is the dictionary definition of insolvency. …
Estimating Retirement Income Needs…An Area of Particular Import to Women
According to a post by MarketWatch’s Alessandra Malito, “(o)nly slightly more than a third of women know how much to expect in retirement income.” Consequently, they face potential financial problems when they reach that point, especially if they’ve been unable to reach…
Attention Grandparents: Talking Points for Your Grandkids
The Motley Fool’s Sean Williams, in a post on their website, provides a series of key discussion topics for grandparents to use to help their grandchildren comprehend this thing called “Social Security.” At the top of his list is one of…
Thoughts on Removing the Tax Cap to Save Social Security
Although it’s been a fairly constant part of many Social Security reform proposals, the removal of the annual limit on earnings subject to FICA tax as a way to address the program’s solvency issue continues to stall in the face of…
Understanding the Complexities of Disability in SSDI amd SSI
In an article titled “What’s Really Keeping People With Disabilities Unemployed” posted on www.themighty.com, Karin Willison provides a detailed account of the myriad complexities faced by beneficiaries under America’s disability support programs. As Disability Employment Awareness Month winds to an end next week,…
Thoughts on Stretching Your Nest Egg
Outliving one’s accumulated financial resources in retirement continues to be a serious concern for many folks thinking about retirement (or already in retirement). The Street’s Robert Powell, in a post on USAToday.com provides some thoughts on steps one can take…
The Implications of Filing for Social Security Early
MarketWatch contributor Brenton Smith provides, in a post on www.marketwatch.com, some thoughts on the long-term implications of filing for Social Security benefits before reaching full retirement age or even before age 70, when delayed retirement credits stop. His analysis of Social…
How do age differences impact your Social Security decisions?
Whether it’s a single marriage situation or a re-marriage, the decision on when and how to file for Social Security benefits can be a key part of a couple’s retirement financial strategy. In a recent Washington Post article, columnist Michelle…