Social Security
The “When to File” Decision, Again, But With Guidance for the Middle-Class
Many factors go into the decision on when to begin drawing Social Security benefits, but for middle-class Americans–and that’s still about half of the population, according to Pew Research Center–it becomes more critical to weave the decision into a broader…
A Quick Refresher on Spousal Benefits
Although so much of Social Security’s rulebook involves complicated qualifications, there are a few very basic premises that anyone planning their retirement finances should know. Many folks are already aware of these basics, but it’s still a good idea to…
Government Pension Offset: To Repeal or Not?
Just before last Christmas, Martin O’Malley was sworn in as Commissioner of Social Security. His term will run through January 19, 2025, giving him two full years to wrestle with a lineup of troublesome matters facing this venerable program. First,…
A Quick Review of Spousal/Survivor Benefit Rules
The general issue of which benefits are available to spouses and survivors contains some fairly explicit rules, so it’s always a good idea in financial planning exercises to be sure they’re well understood. The editorial staff at moneywise.com offers a…
“Peak 65” is Here.
According to a morningstar.com post by contributor Jessica Hall, 2024 represents a statistical milestone in the steady wave of people reaching age 65–12,000 per day to be more precise, also referred to as “Peak 65.” This rate of growth in…
Social Security Windfall Elimination Provision: To Repeal or Not?
Just before last Christmas, Martin O’Malley was sworn in as Commissioner of Social Security. His term will run through January 19, 2025, giving him two full years to wrestle with a lineup of troublesome matters facing this venerable program. First,…
Tax Time…Has Last Year’s COLA Put You Over the Threshold?
Many seniors with taxable income close to the threshold for including Social Security benefits as part of the calculation may wind up with a tax bill as a result of last year’s higher-than-usual cost of living adjustment. The threshold for…
2024 May be the Year for You to Begin Social Security Benefits If…
The Motley Fool’s Kailey Hagen provides three separate reasons why a qualified Social Security beneficiary should take the leap and claim their earned benefits in 2024. The reasons deal with expected longevity, financial needs, and the age of the beneficiary.…
FICA Taxes Explained
Even though it’s the basis for one’s eventual Social Security benefits– retirement benefits, spousal benefits, survivor benefits, disability benefits, and so on–there are a few points relative to Federal Insurance Contributions Act (FICA) taxes that many folks do not fully understand.…
That Nagging Question: What’s the Best Time to Begin Benefits?
It’s perhaps one of the most vexing questions facing anyone approaching Social Security eligibility…when should I take the plunge and begin my benefit? And there are many viewpoints floating on the airwaves, from filing early and getting the benefit of…