Social Security
Social Security goes beyond simple payouts to workers
Almost 70 million people, or more than 1 in every 6 U.S. residents, collected Social Security benefits in 2022. Social Security goes beyond paying benefits to workers; it pays benefits to surviving spouses, divorced spouses, and others. However, Social Security…
Be Wary of Social Security Giveaways with Insolvency Coming
Proposals by Democrats are aplenty each congressional session promising enhanced Social Security benefits, whether as cost of living adjustments, one-time payments, or permanent minimum benefit increases. The problem with nearly all, which are intentionally written to be enticing to the…
Avoid these common Social Security missteps
Social Security is the largest government agency, with over 65 million Americans receiving Social Security benefits each month as of August 2022. Like most programs administrated by the federal government, there are rules and exceptions to those rules that make…
Some core tenets of the bill to bolster Social Security
If Social Security 2100: A Sacred Trust becomes law, it will expand the Social Security program. The Social Security program has not changed or expanded benefits for almost 51 years, and many Congressional representatives believe it is time. John F.…
Social Security and federal taxes
The only difference between death and taxes is that death does not get worse every time Congress meets. – Will RogersAll of us pay taxes; it is a fact of life. Despite the rumors on social media platforms, the government…
Will working after I retire increase my benefits
A recent reader of MarketWatch asked if they returned to work full time after retiring, could their earnings increase their Social Security benefit? They also asked if they have the option of not paying into Social Security anymore. Jim Blankenship, a…
A few ways to boost your Social Security benefits
You can begin your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to…
A brief look at spousal benefits
A spouse can choose to retire as early as age 62 but doing so may result in a benefit of as little as 32.5 percent of the worker’s primary insurance amount. But what if you never paid into Social Security;…
How much will Social Security benefits increase in 2023?
The Social Security Administration will release the 2023 cost-of-living-adjustment (COLA) on October 13th. Many experts are projecting that it will be the largest increase since 1981. The COLA has only gone above 7 percent five times since 1975. So, what…
Simpler ways to increase your benefits
Social Security benefits are much more modest than many realize; the average Social Security retirement benefit in January 2022 was about $1,614 per month. The maximum Social Security benefit in 2022 was $4,194 per month; however, only a fraction of…