Social Security
Things you should be doing right now to maximize your future Social Security benefit
You are entitled to full Social Security benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to the age of 70, your benefit amount will increase by eight percent…
Social Security benefits and what may happen in the worst-case scenario
You hear people talking about how Social Security will not be there for them when they retire, even when waiting in line for a table in a restaurant. It is good that people are talking about and aware of the…
The average retired-worker benefit at age 62
You can start receiving your Social Security retirement benefits as early as age 62; however, if you start receiving benefits early, your benefits are reduced. There are advantages and disadvantages to taking your benefits before your full retirement age; however,…
Don’t let these misunderstandings trip you up
Roughly half of the Social Security recipients receive at least 50 percent of total family income from Social Security, and about one-quarter of the seniors receive at least 90 percent from Social Security. Since Social Security plays an important role…
COLA increase might not be enough
The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. However, you may not be as much as you think it will be due to Medicare Part B…
Ask Rusty – When Should I Retire and Claim My Social Security Benefits?
Dear Rusty: I am 64 years old and having difficulty working due to my arthritis, but I can continue part time as a podiatrist. I do not know the best way to determine when to retire. What is the formula…
Four Key Moments from the Ways and Means Social Security Subcommittee Hearing on Improper Payments
WASHINGTON – With $16 billion in improper payments over the last five years, beneficiaries living on fixed incomes who rely on Social Security for their livelihood face challenging outcomes where they may receive less than they are owed or are overpaid…
Not Everybody Receives Social Security
Many believe that Social Security is universally available to those reaching retirement age. Not so, says a post by The Motley Fool’s Kailey Hagen in a recent post on their website. She examines three separate examples of three cases in which…
COLA’s Impact on SNAP Benefits…a Bit of a Challenge?
The 3.2% cost-of-living adjustment (COLA) announced for January 2024 is certainly a welcomed boost for Social Security recipients. But as everyone knows, it only allows for catching up on price increases that have already happened, and the process as applied…
The “Average” Social Security Benefit…For What It’s Worth
It’s fairly typical for people to want to see where they stand in relation to those around them, and when it comes to looking at Social Security benefits, that’s probably true. A post today by The Motley Fool’s Maurie Backman…