Social Security
Early Social Security Disbursements: Most Basic FAQs answered
As a result of the COVID-19 outbreak, the American Booksellers Association has heard from members all around the country who are struggling financially, including those who are near retirement age (between the ages of 62 and 70). If you are in this…
Can Social Security Survive the COVID-19 Crisis?
Social Security’s long-term health has been a problem and has made news for some time, though little is being done in Congress to make it more solvent. The Covid-19 pandemic will make the finances of the program worse, and perhaps…
Is $5,000 now in exchange for delayed Social Security benefits later a sound idea?
What if there were a way to thread today’s divisive partisan needle to get more cash into the hands of Americans who need it without adding to the $25 trillion national debt? Alas, there is such a proposal, and Shahar…
On What Did Social Security Spend Over $1 Trillion in 2019?
The Social Security Administration (SSA) spent $1.06 trillion in calendar year 2019, the largest single outlay category in the entire federal budget at around 25% of all spending. The Social Security Trustees issue a report each April that among many…
A Preview of Potential Social Security Changes
As we’ve reported on this website persistently over the past several years, Social Security is facing a long-term solvency issue. Not bankruptcy, as the rumor mill frequently suggests, but rather the inability to fully pay the benefits promised to beneficiaries who…
SSA Provides Updated Guidance on COVID-19 Impact Payments
The Social Security Administration late yesterday provided an update on the question “How do I get my COVID-19 economic impact payment?” The announcement includes an update to their document ” Economic Impact Payments for Social Security and SSI Recipients – Steps to…
The Importance of Knowing (and Considering) Your FRA When Pondering Filing for Social Security
Surprisingly, many folks approaching Social Security eligibility are not clear on what their full retirement age (FRA) actually is. But more importantly, many folks are also not aware of the impact their FRA has on their ultimate level of benefits.…
Why So Many Aren’t Able to Accumulate That “Nest Egg”
Almost 70% of workers surveyed by Employee Benefit Research Institute report that their level of short-term (non mortgage) debt is the obstacle that prevents them from saving for retirement. They report that in addition to the out-of-pocket debt payments they’re facing, their…
Think Before You Leap (Into Social Security)
There are three tried-and-true criteria for making the decision to file for Social Security benefits, and they’re worth revisiting from time-to-time. Dropping the ball on any one of these three pivotal factors could lead you into a financial predicament later…
Disposing of Tax Returns: Make Sure You Have Earnings Records for Social Security Purposes
One of the most persistent questions on the minds of Americans is “How long must I keep my copies of my Income Tax returns?” In a post today on www.usatoday.com, The Motley Fool’s Kailey Hagen recaps the IRS recommendations currently in…