Social Security
Social Security and Widowed Spouses
Understanding the benefits available to widowed spouses is key to financial planning for the aftermath of the loss of a loved one, and WTOP’s Dawn Doebler takes care in a post to explain the process for obtaining the benefits available. Her…
Social Security’s Infamous “Earnings Test”
Investment News Contributing Editor Mary Beth Franklin, in a post on www.investmentnews.com, takes an in-depth look at one of the components of Social Security that surprises–and causes some level of heartburn for–folks planning to retire before their full retirement age and…
Medicare: An Overview of Components and Facts
Medicare’s enrollment process can be vexing for those hurtling toward their eligibility. And that’s perhaps an understatement, given the enormity and complexity of this massive program. Missing an enrollment deadline can cost one dearly, and that’s why it’s criticaql to…
Understanding What Social Security Is Not
Social Security has an exemplary record of serving America’s retired workers and their families. Despite this record, it’s important to understand that there are aspects of social welfare that the program is not designed to accommodate, as explained by The Motley…
Your Retirement Age…Don’t Believe What You Hear
When you make it known that you are thinking about retirement, there are often two sources of “expert” advice about Social Security that quickly become available…your neighbor on the left and your neighbor on the right. And these sources usually come equipped…
To be forewarned is, well, a good thing!
Many retirees make the mistake of underestimating the cash flow they’ll need in their retirement years. Planning is difficult, and many folks tend to put it off or just take a summary stab at it. If that describes you, know…
5 More Facts You Might Not Know About Social Security
(Source: Social Security Administration) What kind of questions do you and your friends ask about Social Security? When do my benefits arrive? What are Social Security work credits, and do they have anything to do with the way my benefits…
One financial writer says age 64 may make most sense to start benefits
The Social Security Administration explains that, “If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62,…
Just where does retirement income come from?
Social Security is the biggest source of income for retired Americans with the average monthly benefit per retired worker (not household) at just under $17,000 a year, or $1,412 per month. Social Security and income from private and government pensions provide about 50% of the…
The Crisis in Social Security Demands Action by Congress
Conwell Hooper of the American Senior Alliance argues for action now to shore up Social Security’s finances. Currently, over 62 million Americans received Social Security benefits. Hooper calls it “frightening” when referring to the Trustees Report released last month that noted for the…