Social Security
What if Social Security runs out of money?
The Social Security Trustees report is an annual report that provides information about the current and projected financial status of the Social Security and Medicare trust funds. The latest annual report shows the Trust Fund will run out of money…
Using your personal mySocial Security account
A free and secure my Social Security account provides personalized tools for everyone, whether you receive benefits or not. You can use your account to request a replacement Social Security card, check the status of an application, estimate future benefits,…
The two events that could reduce your Social Security Increase in 2024
The Social Security’s Cost-of-Living Adjustment (COLA) is to ensure that the purchasing power of Social Security benefits does not erode by inflation. COLA calculation is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and…
Ask Rusty – I’m a Veteran. How Do I Get My Extra Social Security?
Dear Rusty: As a military veteran, I was told that the final amount of my Social Security should be a little higher as a reward for military service. If so, I have two questions: 1. How much is the boost?…
Money Saving Tips For Seniors
Seniors trying to make ends meet face unique challenges others simply do not. The fixed income component of being on Social Security alone looms large. While younger folks can work overtime, pick up a side gig, or put in an…
The Retirement Withdrawal Fear
Maurie Backman tells the story here about one man’s worry over taking anything from his nest egg, a fear more common than many realize. Social Security will replace just 40% of pre-retirement income, and so savings from a lifetime of…
A Novel Idea to Address The Looming Retirement Crisis
You can only contribute a quarter of what your neighbor can for retirement because of where you work. Is that fair? Well, it’s reality for the more than 57 million U.S. workers who don’t have access to an employer-sponsored retirement account. Eric…
Ron DeSantis on Social Security
“Talking about making changes for people in their 30s or their 40s so that the program is viable, that’s a much different thing, and that’s something that I think there’s going to need to be discussions on. We got to…
Time to Ready Your Financial Plan for an Increase in Retirement Age?
David Weinstock starts by noting a number of countries are raising retirement ages out of necessity to keep their social insurance programs solvent. The concept rarely polls well with the public, though experts think it critical for keeping programs whole.…
Thoughts on Avoiding the Age 62 Filing Impulse
Statistically, filing for Social Security at the earliest possible age (62) has always been popular, and still about a third of all new filers are that age. The proportion of early filers has been declining in recent years, doubtless because…