Social Security
The changes that will impact all future retirees
As of October 2022, over 48 million Americans received Social Security retirement benefits. However, there will be around 10,000 people (taking the total of retiring males and females) turning 65 each day for the next two decades. Although your retirement…
One More Time: When Should I Take Social Security Benefits?
It’s not always a simple decision, and it’s one of the most frequently-encountered questions most financial planners receive from their clients. Here, in a less-than-three-minute video clip from Fox 2 St. Louis, is a summary view of points to consider…
Re-thinking the Term “Retirement” and Its Impact on Social Security and Medicare
As we’ve pointed out frequently on this website, the tempo is beginning to increase in the media regarding–finally–a serious look at correcting Social Security’s long-term financial woes. Many pundits and news sources have begun to step up their coverage of…
Understanding the Implications of Filing Early
The majority of seniors aging into Social Security eligibility opt to begin drawing benefits before reaching their full retirement age (FRA). For some, it makes sense. For others, waiting would likely produce a gain in the amount of monthly benefit…
A Summary of Bi-Partisan Suggestions for the Social Security Dilemma
As the calendar continues to advance toward commencement of the 118th Congress, we’re seeing an uptick in reports of potential changes that could be considered to address this thorny and complex problem. In a post today on wfmz.com, The Motley…
An Argument for Age 70 Full Retirement Age
As the rhetoric heats up in advance of the 118th Congress and the potential heightening of interest in finally taking a serious look at resolving the long-known financial crisis facing Social Security, we’re beginning to see more and more news…
Dealing With Social Security’s Income Tax Consequences
One of the most unpleasant issues many Social Security beneficiaries encounter is the fact that their benefit may be subject to federal income tax. Not only is it unpleasant, but it’s also often not anticipated during the retirement cash flow…
The Importance of Optimizing Social Security Claiming Decisions
Several articles channeled this week via our “Latest News” segment have addressed the persistent question of when to begin drawing Social Security retirement benefits. One, for example, argued for filing at the earliest possible age (62), while another offered a…
Social Security and the Debt Ceiling Argument
Douglas A. McIntyre, co-founder, chief executive officer and editor-in-chief of 247wallst.com sounds the alarm for Social Security in the midst of negotiations on the nation’s debt ceiling. In his post, which you can read in full here, McIntyre suggests that failure…
Unraveling Some of Social Security’s Complexities
It’s no secret that our Social Security program is somewhat complicated (yes, I know that’s an understatement). But as a result of the program’s complications, uninformed participants can (and often do) make mistakes that can cause them to under realize…