Social Security
Social Security benefits and alimony payments
Earlier this month, the Colorado Court of Appeals ruled that Social Security benefits counted as income in deciding alimony payments. So, what will this mean to other seniors? Suzanne Blake reports on how this ruling changes how the court can…
Proposed plan for new retirement system
The Wharton School of the University of Pennsylvania proposed a plan for the federal government to create “personal individual investment accounts” to replace the current retirement systems. According to the authors, “All contributions are made by the federal government without…
Women and retirement savings
At the end of 2022, the average monthly benefit check for a retired woman was $1,638 compared to $2020 for a retired man, according to a report from the Social Security Administration. Why? Women tend to earn less than men,…
Is delaying your benefits worth it?
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But, if you delay taking your benefits from your full retirement age up to 70, your…
Should couples retire together?
Married couples need to coordinate their retirement, but that does not mean both of you will retire on the same day. According to Ameriprise, only about 11 percent of couples retire at the same time, and 62 percent of couples…
What are your plans for your Social Security benefit?
In June 2024, over 67 million individuals received Social Security benefits, with an average benefit of $1,781. We know from previous studies that About 1 in 7 seniors rely on Social Security for at least 90 percent of their income.…
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Changes are coming
The Social Security Administration is changing how you access online services, including your account called My Social Security account. The Social Security Administration said they made these changes to simplify the sign-in experience and align with federal authentication standards. For…
The risk of running out of money
Inflation is putting “more retirees at risk of running out of money,” according to a recent study published by Boston College. Who will be seeing this risk? Is it the wealthy retirees or the less-than-wealthy retirees? The less wealthy retirees…
Ask Rusty – Should I Retire at 65 or 67? And What About Earnings & Taxes?
Dear Rusty: I’m just trying to figure out how to determine whether to retire at 65 or 67 and, if I retire, approximately how much could I make outside of my Social Security without being overly taxed. Signed: Thinking About…