Social Security
The clock is ticking for Congress
According to American writer Jack Kornfield, “The trouble is you think you have time.” The reality is we do not. Congress has until 2033 to come to a bipartisan agreement about Social Security, or there will be an automatic cut…
It’s all about realistic expectations
Social Security is a primary income source for most people aged 65 and older. You can start your Social Security retirement benefits as early as age 62. However, if you start to receive your benefits early, your monthly Social Security…
What the five GOP candidates said about raising the retirement age
During the 3rd Republican candidates’ debate, the third rail of American politics – Social Security- was discussed. The difference in the approach of the five attending candidates in solving the Social Security and Medicare insolvency issue was on display. The…
Spousal benefits from Social Security
Being married comes with benefits – Social Security benefits – that is. When a worker files for retirement benefits, the worker’s spouse may be eligible for a benefit based on the worker’s earnings. The spousal benefit can be as much…
It’s a crisis that could have been easily avoided
Americans know, as you should by now, that the Social Security Trust fund is in trouble. The trustees reported the combined funds will pay 100 percent of scheduled benefits until 2034. In 2034, total fund income will be sufficient to…
Social Security benefits and death
Social Security started providing survivor benefits in 1940; before this, the 1935 law only paid retirement benefits to the primary worker. Since that time, Social Security survivor benefits have been providing a safety net for loved ones of the deceased…
Three things you should know about Social Security
A day doesn’t go by without a doom and gloom article appearing on how the Social Security trust fund is going bankrupt. Yes, since 2021 the trust fund is being used to ensure full benefits and will be depleted in…
There’s more to consider when deciding to begin your Social Security benefits
Social Security is a primary income source for most people aged 65 and older. Without Social Security benefits, 37.7 percent of older adults would have incomes below the poverty line. Social Security is the cornerstone of many retirees’ income, so…
The ongoing battle over Medicare and Social Security
The newly elected Speaker of the House, Mike Johnson, has stated, “The greatest threat to our national security is our nation’s debt.” The Speaker has promised to establish a 16-member bipartisan commission to examine the Social Security and Medicare solvency…
Claiming as soon as possible could hurt your finances in more ways than one
You can start your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, they are permanently reduced. Although there are times when starting your benefits at 62 is a good idea, if you…