Social Security
Social Security checks may see a huge raise next year. Will it be enough?
Clayton Jarvis of Yahoo Finance explains the recent spike in inflation and projections of up to a 6.1% cost of living adjustment for Social Security beneficiaries. That would be the largest increase since 1983 if it holds. Jarvis profiles several…
How Social Security calculates raises and why it should change
Maurie Backman of The Motley Fool notes that seniors are in line for big boost to monthly Social Security benefits in 2022. But the way inflation is calculated to compute the cost of living adjustment (COLA) continues to be a…
Supplement Social Security Benefits with an HSA
Social Security only pays an average monthly benefit of $1,543, not nearly enough to live on. Retirees who have it as their only source of income struggle to manage their bills. Thus there is an urgent need for seniors to augment…
A Tax Shock That Could Save Social Security?
Brent Arends, a financial writer at MarketWatch, has an op-ed here that explains the key findings from ProPublica, a nonprofit investigative public interest website, with regard to the nation’s richest and taxes. Arends reminds readers that our income tax system…
Know Your Social Security
It’s back, and it’s called the Know Your Social Security Act. This is a bipartisan bill that has been introduced in Congress before. Currently the Social Security Administration only sends mailed annual statements to people ages 60+ not yet collecting benefits and who…
The Biggest Problems Facing Social Security
John Csiszar has written five books and thousands of articles about financial services and personal financial planning. Here he explains in simple terms the structural problems and economic reasons why Social Security is facing insolvency in the near future. These are the…
Social Security Affected by Persistent Unemployment Checks
Many economists and Republican governors have been fuming for months now about the so-called “Biden bonus” of paying people an extra $300 per week not to work through early September. Opponents of this scheme, passed in the last stimulus bill…
The time is now for action on Social Security
The Hill contributors Jeffrey R. Brown and Mark Duggan remind readers that infrastructure is not the only pressing problem needing attention in Washington. They note Social Security is running a deficit this year for the first time in 40 years. It…
Finding Social Security Rules and Regulations in Writing
There are literally thousands of rules and regulations pertaining to The Social Security Act, such that laypeople often find themselves shut out and needing advice from federal employees of the agency, lawyers (generally for the disability program), and other financial…
What Declining Births Say About Our Values, Economics, and Social Security
Star Parker has a fascinating op-ed here that challenges the notion that families had fewer children in 2020 due to the uneasiness or economic challenges from the pandemic. Not so. Parker argues younger people are avoiding marriage and children because they…