Social Security
Thinking About Where to Retire with your $1.5 million nest egg? Here’s how long that nest egg will last in every state.
Well, with many Americans still suffering a “retirement crisis” – that is, not saving enough for their retirement – accumulating a $1.5 million nest egg before hanging up one’s work boots may seem like an unreachable goal. But, for the…
About not paying income tax on Social Security Benefits
President Trump has suggested that seniors should not have to pay income tax on their Social Security benefits, and (obviously) most seniors would agree. Some studies say that eliminating income tax on Social Security benefits would provide a welcome $3,000…
Ask Rusty – Will My Medicare Premium Change because I Sold Investment Property?
Dear Rusty: I have questions concerning the deduction of money from my Social Security benefit amount as relates to the sale of investment property. I am 66 years old and have been drawing Social Security since I turned 62. My…
The Current Focus on Social Security: A Source of Considerable Angst
Despite repeated promises that the Trump Administration’s current focus on Social Security operations does not include benefit cuts, an Investor Business Daily report by Adam Shell suggests “Social Security’s future is worrying everyone.” As Shell explains, the Department of Government…
Need to Update Your Banking Info for Social Security Payments? Better Read this.
Beginning March 29, the Social Security Administration (SSA) will no longer accept requests to change banking information over the phone. The change will require banking changes to be submitted through a “my Social Security” account or, as an alternative, visit…
Rep. Larson Strikes Back on Allegations of Massive Social Security Fraud
Citing continuing assertions of “hundreds of million dollars of fraud” in the U.S. Social Security system, Rep. John Larson (D-CT) lashed out in a firey address before the House committee meeting and suggested that the intent behind these allegations could…
An Argument for privatizing Social Security
Speaking at the firm’s Retirement Summit program, Blackrock CEO Larry Fink spoke in favor of individual savings accounts funded by employer and employee contributions and market-based investment management as a better way to ensure continuity of Social Security. He based his…
House Appropriations Committee Refutes Misinformation on Social Security Cuts
In a post yesterday on appropriations.house.gov, the House Appropriations Committee countered partisan allegations of Medicare, Medicaid, and Social Security cuts in the legislation passed by the House Tuesday to avert a partial government shutdown and fund federal agencies through September.…
White House Reiterates Pledge to Avoid Social Security Cuts
In the wake of Elon Musk’s public comments about focusing on “entitlement” programs as cost-cutting targets, the White House issued a press release stating that “The Trump Administration will not cut Social Security, Medicare, or Medicaid benefits.” The press release,…
Sen. Graham Advocates Full Retirement Age Setback
Earlier this week, Senate Budget Committee chairman Lindsey Graham (R – SC) spoke in favor of a change to the Social Security full retirement age (FRA). SC Daily Gazette reporter Shaun Chornobroff, reporting on comments made by Sen. Graham in…