Social Security
What you should know about Social Security
The Social Security Administration states more than 50 percent of seniors aged 65 and above rely on Social Security for more than half of their monthly income. Another report finds that 40 percent of older Americans rely only on Social…
Getting the max Social Security benefit isn’t easy, but it’s doable.
The Social Security Administration states the maximum monthly benefit is $4,873 for 2024. So, how do you achieve this amount; is it even achievable? If you follow a few steps during your working career, you may be able to receive…
How long do I have to pay FICA?
One question asked by Social Security recipients who are still working is whether they have to pay Social Security taxes. Yes, unless your wages exceed the wage cap for 2024. Maurie Backman explains who will be paying Social Security taxes…
Does your state tax Social Security benefits?
The Internal Revenue Service announced Jan. 29, 2024, as the official start date of the 2024 tax season when the agency will begin accepting and processing 2023 tax returns. Some retirees will not need to file if their total income…
The pros and cons of starting at 62
You can begin your Social Security retirement benefits early at 62, the most popular age. If you decide to start receiving benefits early, they are reduced, but if you wait until you reach your full retirement age, you are entitled…
Ask Rusty – How Can I Get Details about My Social Security Payment?
Dear Rusty: How do I find the actual breakdown of the Medicare insurance that I have auto deducted and my actual Social Security payment? I was just looking at a video which explained the 3% Cost of Living Adjustment we…
Revisiting Some Lesser-Known Social Security Rules
For someone beginning to take their first preparatory look at Social Security, the basics are fairly well known. Age 62 is your early eligibility (with reduced monthly benefits), your full retirement age is based on your year of birth (if…
Election 2024 – The Knives are Coming Out
If you’ve checked in on the various debates and Town Halls starring the 2024 presidential challengers, you’ve seen the growing intensity relating to positions on Social Security reform. It’s pretty clear that there are differences of opinion on what needs…
AFGE Issues Urgent Appel for Increased Funding
The American Federation of Government Employees, representing three-quarters of a million federal employees, yesterday declared the Social Security Administration (SSA) to be “an agency in crisis,” outlining its case for $20 billion in a proposed supplemental funding package over the…
Life Expectancy and It’s Impact on the “Retirement Safety Net”
As the rhetoric heats up on Social Security, and as the leading 2024 presidential candidates debate their policy thoughts on this issue, extension of the full retirement are (FRA) for benefits is getting quite a bit of play. In fact,…