Social Security
In a Sea of Red Ink, should Congress Seek Fiscal Reform?
With the national debt now exceeding $33 Trillion, and Social Security and Medicare facing insolvency in less than a decade, it’s hard for the average American to understand why anyone would oppose Congress seeking ways to restore fiscal stability. Then…
Why do the Rich get a Bigger Social Security Payment?
“The rich get richer” is somewhat of a common lament by those not enjoying financial freedom, which likely includes most of those collecting Social Security benefits. Indeed, a majority of Social Security beneficiaries say they rely on their SS benefit…
Insufficient retirement savings affects all of us
One of the biggest fears for retirees and pre-retirees is: “outliving my savings.” Why is this the biggest fear? Many Americans working do not have access to an employer-sponsored retirement savings account. However, 15 states have implemented automatic savings programs…
The Social Security earnings test
You can start your Social Security retirement benefits at 62 but at a reduced rate. According to statistics released by the Social Security Administration, almost 30 percent of Americans eligible for Social Security begin to receive their benefits at 62.…
Predictions for 2025 COLA
Although the 2025 Social Security cost-of-living adjustment announcement is not until mid-October of this year, experts are already predicting it could be the lowest since 2020. Mary Johnson, Social Security and Medicare policy analyst for the Senior Citizens League, stated,…
SOAR Programs and Social Security
(Source – blog.ssa.gov) National Network for Youth (NN4Y) is dedicated to transforming systems so that no young person in America experiences homelessness. In the United States, roughly 4.2 million young people— one in 10 young adults ages 18 to 25…
With the new year comes some changes to Social Security
New Year, a new Social Security program; some parts of it anyway. Every year, changes happen to Social Security automatically, which helps recipients of this program keep up with the cost of living. Kailey Hagen reports on the three changes…
The three-legged stool
The newest data from Allianz finds that 22 percent of Americans currently working hope to retire in 2024. Unfortunately, these soon-to-be retirees will discover the much talked about “three-legged stool” no longer applies to most people. What is a “three-legged…
Is it possible to lose some of your Social Security?
As part of the “three-legged” stool of retirement planning, Social Security should play an equally important role along with pensions and retirement savings; however, for some people, Social Security is the only leg of that stool. So, it is essential…
Marriage and retirement
Most people think life after retirement is full of excitement and fun, endless golf games and pickleball. You can spend a lot of time with your spouse and cross things off your bucket list, but things can be otherwise if…