Social Security
Social Security and the National Debt: “Fact Checkers” Weigh In
Social Security is in the spotlight these days, both with respect to its long-term solvency problem and its relativity to the debt ceiling fight now underway. One can argue that Social Security has no direct bearing on federal debt, since…
Retirement Finance Strategies–“Bridging” Might be a Way to Maximize Your Position
The general emphasis on waiting as long as possible to claim Social Security benefits is something many aging into eligibility hear from advisors, and it’s clear that taking advantage of the program’s “delayed retirement credits” produces the highest monthly benefit…
The Argument on Who Said What About Cutting Social Security Rages On
An article posted today on thehill.com by Brett Samuels showcases the ongoing feud between the Biden administration and members of Congress on the allegations of intent to cut Social Security. In this post, the dialog between the White House and…
It’s Tax Season–And Social Security Taxation is Again in the Picture
The fact that Social Security benefits may be subject to federal income tax comes as a surprise to many first-year beneficiaries, and it’s certainly not a pleasant surprise. The taxation of benefits is a net that is capturing more and…
Lost Your Social Security Card? No Worries…Here’s What to do.
It’s not something that you carry with you everywhere…in fact, most sources advise you not to do that…but there are those times when you might need to produce your physical Social Security card. Like for many folks, the whereabouts of…
Considering Filing at 62? Don’t Rush, says this analyst
One of the most frequent questions we receive at the AMAC Foundation’s Social Security Advisory Service from folks approaching age 62 is simply, “Should I begin drawing benefits?” We respond with a discussion on the implications of early filing versus…
A Helpful “Cheat Sheet” on Key Points Current and Future Social Security Beneficiaries Need to Understand
It’s a new Social Security year, and it’s a new tax season, so most folks have a lot on their mind regarding their financial details. It can be confusing, so the folks at CNET have offered some guidance via a…
Saving for Retirement: Here are Some Thoughts to Help You
Social Security benefits are not designed to completely replace pre-retirement income levels. Everybody generally knows that, but how many are aware that the replacement rate is really around 40% or less? As a result of this reality, it becomes essential…
Another Vote Against Claiming Benefits at Age 62
Statistically speaking, you’re a rare case if you wait until age 70 to begin drawing your Social Security benefit. As many (most?) financial advisors suggest, you’re also a savvy planner, since your monthly benefit will be maximized–fully 24% greater than…
Will the debt ceiling affect your finances?
What is the debt ceiling? The debt ceiling is the maximum amount the federal government is able to borrow to finance obligations that lawmakers and presidents have already approved. What happens if the United States defaults on its debt? U.S…