Social Security
Brady, Neal Applaud Senate Passage of the Social Security Representative Payee Bill
(Source: waysandmeans.house.gov) Washington, D.C. – The Senate passed by unanimous consent yesterday H.R. 4547, the Strengthening Protections for Social Security Beneficiaries Act of 2018 – bipartisan legislation to strengthen and improve the representative payee program to better protect those Social…
Spotlight on Widow/Widower Benefits: Understanding the Math
The recent Social Security Administration’s inspector general report highlighting the lack of correct direction provided to surviving spouses has received quite a bit of media attention over the past few weeks. With so much money on the table, it’s important…
Reasons Why DRCs Are Unattractive to Many
According to this post by Sean Williams of the Motley Fool, less than a tenth of retirees elect to take advantage of the Social Security’s Delayed Retirement Credit provision. It’s a guaranteed 8% return on your benefit from fill retiremenht…
Gray Divorce: Some things to think about.
With the rate of divorce among folks 65 and over tripling since the 1990s, the phenomenon of “:gray divorce” has worked its way into everyday life. The divorce itself is one thing, and can it can be amiable or not,…
Taxation of Social Security Benefits
It’s a shock to some, but your Social Security benefits might well be subject to federal income tax. In fact, the better you’ve planned financially for your retirement. the more likely your benefits will be taxed. Time.com’s Martha C. White…
Social Security Myths and Misunderstandings
It’s been said that as you age in to Social Security eligibility, you automatically have two experts to guide you: your neighbor on the left, and your neighbor on the right. If you don’t have any neighbors, you’re probably better…
The Nagging Question…When Must You Supply Your Social Security Number?
We’re in a time where database breaches resulting in the release of personal data–most notably Social Security numbers–has become fairly commonplace. And there’s no question about the vulnerability that arises from those breaches…whether it’s a situation as broad as the…
Understanding the “Social Security Administration Representative Payee Program”
A representative payee is someone who is chosen by the Social Security Administration (SSA) to help individuals budget and spend the Social Security money. So, if you are receiving monthly Social Security benefits called SSI or SSDI, and the SSA…
Boomers Confident About Retirement Lifestyle, but is it Wishful Thinking?
Citing an NHP Foundation quote pointing to a “disconnect between Baby Boomers’ current financial status and where they perceive themselves in retirement,” a post by PlanAdvisor’s Lee Barney takes a look at a potential disconnect between where those age 50…
Social Security’s Diminishing Ability to Keep Pace
With national health care spending growing at an average rate of 5.5% for the next decade, it’s easy to see why the recent trend in Social Security’s cost-of-living adjustments (COLAs)–1.1% average for the past five years–is cause for concern among…