Social Security
Showing 50 results of 497
Living mostly on Social Security in the US.
Dec 20 2024
Though Social Security was designed to provide a safety net of about 40% of a retiree's customary income needs, there are millions of people for whom SS is at least 75% of their income. I'm not talkin...
reddit.com
What If Social Security is Cut? Here's What it Means for Your Retirement
Dec 19 2024
Many middle-aged adults nearing retirement face anxiety over uncontrollable factors like Social Security cuts, lower investment returns, and increasing tax rates. Ari and James discuss how fear of the...
buzzsprout.com
A Social Security Payroll Tax Increase Should Be Part of the Solution
Dec 18 2024
But the increase should be small and gradual. Enough with politics. It’s time to get back to solving problems. Not surprisingly – given my slant on the world – the problem I care mos...
crr.bc.edu
Bonds and Annuities, Social Security and Retirement Spending - 508
Dec 18 2024
John in Pennsylvania doesn’t have bonds in his investment portfolio. Should he add them, and if so, where? That’s today on Your Money, Your Wealth® podcast number 508 with Joe Anderson...
purefinancial.com
Optimizing Your Social Security With Dave Whitworth (Ep. 6)
Dec 17 2024
Curious about how timing your Social Security could maximize your benefits? Join Tyson and Ryan Thacker from B.O.S.S. Retirement Solutions as they welcome their long-time friend and Investment Advisor...
bossretirement.com
40th anniversary of the social security tax.
Dec 16 2024
It’s been 40 years since the social security tax was imposed back in 1984. And the AARP has done nothing to repeal that tax. That seems like it should have been a year after year priority with e...
community.aarp.org
Is My Social Security Safe From Debt Collectors?
Dec 16 2024
If that question has been on your mind, we've got good and bad news....
money.usnews.com
Claim It Early or Delay? When to Start Taking Social Security
Dec 15 2024
Timing is everything when it comes to starting Social Security. Here are the top reasons why people choose to delay or take it early, according to one expert....
kiplinger.com
5 ways retirement changed in 2024
Dec 15 2024
In ways big — e.g., Donald Trump's reelection — and small — e.g., a slight reprieve for Social Security's trust fund — 2024 was a turning point for American retirement. Here's ...
financial-planning.com
Trump Proposed Eliminating Social Security Taxes. Here's the Bill That Could Make It Happen.
Dec 14 2024
A bill has been introduced to eliminate taxes on Social Security benefits....
money.usnews.com
How to Get the Maximum Social Security Check in 2025
Dec 11 2024
The maximum Social Security check is $5,108 in 2025, up from $4,873 in 2024. Even if you don't qualify for the maximum monthly benefit, you can still increase your payments....
kiplinger.com
The Social Security Fairness Act Is a Bad Idea
Dec 11 2024
This legislation would allow some workers to double-dip and speeds the exhaustion of the trust fund. On November 12, the House passed the Social Security Fairness Act to repeal the Windfall Eliminatio...
crr.bc.edu
Social Security Fairness Act: What It Is and Will It Pass
Dec 10 2024
Some people don’t receive all their Social Security benefits, even though they paid into the system. A bill would change that....
money.usnews.com
Four Things You Need to Know Before Applying for Social Security in 2025
Dec 09 2024
Don't unnecessarily delay or reduce your Social Security benefits because you don't know all the rules and requirements....
kiplinger.com
How Big Will The Raise Be For Social Security In 2025?
Dec 08 2024
While inflation has been easing downward, it has still been pinching retirees’ budgets. Will retirees still be getting a big raise via their Social Security Cola?...
forbes.com
Is Social Security’s Windfall Elimination Provision (WEP) Fair?
Dec 05 2024
There is support for a House vote in Congress to eliminate this provision. This article is written to provide you with the reasoning for WEP....
forbes.com
Delaying Social Security Helps All Couples but High-income Couples More
Dec 05 2024
The longer a husband delays his Social Security retirement benefits, the larger the check his wife will get when he dies. And odds are that he’ll die first, so that decision to delay will leave ...
crr.bc.edu
The Social Security Survivor Benefit – Part 2
Dec 02 2024
Note: you can find the first part of this discussion of Social Security Survivor Benefits at the link. Part 1 covered the basics of Survivor Benefits, and this article covers other considerations with...
financialducksinarow.com
The Social Security Survivor Benefit – Part 1
Dec 02 2024
Basics of the Social Security Survivor benefit. This article lays the foundation for understanding this confusing aspect of Social Security. The post The Social Security Survivor Benefit – Part ...
financialducksinarow.com
What Social Security Beneficiaries Should Know About 2025 Numbers
Nov 30 2024
Declining inflation led to the lowest cost-of-living adjustment since 2020, with the 2025 COLA set to rise 2.5%....
kiplinger.com
Collect SS or hold off? Help me decide.
Nov 30 2024
F66 and Husband 71. Full Retirment is 66 and 8 month. Received a severance package that covers me till January 2025. Our total combined net worth including home around 750K Home is about $250k SS woul...
reddit.com
This is the Biggest Way People Waste Money in Retirement
Nov 30 2024
Meet Sarah—a retiree with a multi-million-dollar portfolio, no mortgage, and all her income needs covered by Social Security. Yet, she hesitates to furnish her newly expanded home, fearing it wo...
buzzsprout.com
Will Social Security Be There When You Need It? Many People Worry It Won’t Be
Nov 29 2024
The majority of Americans surveyed expect to rely on Social Security benefits to help cover everyday expenses in retirement, yet 73% worry they won’t get them....
kiplinger.com
How to Undo Claiming Social Security Early
Nov 27 2024
Changing course on claiming Social Security is doable, with more options than you might expect....
money.usnews.com
? How to Improve Social Security’s Minimum Benefit (AARP Article & PDF)
Nov 27 2024
FROM THE ARTICLE - SEE ARTICLE FOR MORE!!! Two Reports Address How to Improve Social Security’s Minimum Benefit. By Jim Palmieri, AARP Public Policy Institute. Chantel Boyens and Jack Smalligan,...
community.aarp.org
Can you live on Social Security alone? r/retirement speaks!
Nov 25 2024
A few months ago, I reached out to this community for help with a story in USA TODAY about whether you can live comfortably in retirement on Social Security alone. Well, the story just published. I wa...
reddit.com
Millions of Americans Could Get Higher Social Security Benefits if Bipartisan Bill Passes
Nov 24 2024
...
money.com
Trump promise of no fed tax on SS checks.
Nov 23 2024
why isn't AARP holding Trump to his promise of no fed tax on SS checks and making it a public issue....
community.aarp.org
How to Apply for Social Security
Nov 21 2024
There are two ways to apply for Social Security retirement benefits....
kiplinger.com
A Simple Plan to Fix Social Security? Be Suspicious, Very Suspicious
Nov 21 2024
This proposal would undermine support for the program and delay a real solution. My clever friend, and occasional co-author, Andrew Biggs is up to mischief again. He and his lawyer co-author Kristin S...
crr.bc.edu
Ex-Spousal Benefits: What ‘Independently Entitled’ Means
Nov 20 2024
Social Security ex-spousal benefits are the same as current spousal benefits but the criteria to qualify is different. Learn more about it in this article....
forbes.com
What a Second Trump Term Could Mean for Social Security, Taxes, and Interest Rates
Nov 20 2024
If there's one thing we know that the financial markets like, it's certainty. And since the 2024 presidential election was settled overnight -- rather than the weeks it took to count votes in 2020 -- ...
keenonretirement.libsyn.com
Why Most People Still Plan To Take Social Security Early
Nov 18 2024
Despite knowing that they're giving up higher income, many pre-retirees plan to claim Social Security benefits before full retirement age....
forbes.com
How Bad is Social Security’s Financial Condition?
Nov 18 2024
This post is a follow-up to our post of October 14, 2024 entitled, “Social Security Financing---When You’re in a Hole, Stop Digging.” In this post, we will look at the retirement pla...
howmuchcaniaffordtospendinretirement.blogspot.com
Medicare premiums quickly outpace Social Security COLA
Nov 16 2024
In 2025, premiums for Medicare Part B will grow twice as fast as Social Security benefits — and those premiums are deducted straight from the checks....
financial-planning.com
What Every 40-Year-Old Should Know About Social Security
Nov 16 2024
Younger workers have a lot to gain by understanding how Social Security works....
money.usnews.com
Will You Pay Taxes on Your Social Security Benefits?
Nov 15 2024
You might, depending on your income, but smart financial planning now can help lower or even eliminate your taxes in the future....
kiplinger.com
The Social Security Spousal Benefit – Further Explanation
Nov 15 2024
Further explanation of the tenets behind the Social Security Spousal Benefit provision for clarification and better understanding. The post The Social Security Spousal Benefit – Further Explanat...
financialducksinarow.com
Medicare Premiums Growing Twice as Fast as Social Security COLA
Nov 14 2024
As CMS announces 2025 Medicare premiums and deductibles, new analysis finds Medicare Part B…...
401kspecialistmag.com
New Future Capital Partnership Targets Held-Away 401(k) Assets
Nov 14 2024
Deal with SS&C's Black Diamond Wealth Platform integrates customized 401(k) solution for…...
401kspecialistmag.com
Why Social Security is Falling Apart
Nov 13 2024
You’ve probably heard it by now – Social Security is set to run out of money as early as 2033, according to theCommittee for a Responsible Budget. When that happens,…...
bossretirement.com
What A Trump Administration Will Mean For Older Adults
Nov 11 2024
He proposed exempting Social Security benefits from income tax—effectively raising benefits for those higher-income retirees now subject to the levy....
forbes.com
A primer on the IRA 'bridge' to bigger Social Security benefits
Nov 11 2024
A complex mixture of new or expiring laws, intersecting retirement planning questions and the threat of so-called stealth taxes could add up to a highly beneficial strategy....
financial-planning.com
Are Your Social Security Benefits at Risk?
Nov 11 2024
Did you know the Social Security Trust Fund is projected to run out of money in less than 10 years? And now BARRONS has reported if this happens… an average…...
bossretirement.com
Seven Retirement Moves to Make Before 2025
Nov 09 2024
From applying for Social Security and donating to charity to maximizing your savings accounts, ere are retirement moves to make before 2025....
kiplinger.com
Probability of tax free Social Security as promised
Nov 08 2024
He said that Social Security won't be federally taxed.......
community.aarp.org
Double Dipping the year you hit full retirement age
Nov 06 2024
So I'm 65 and a year from hitting my full retirement age this month. I am still working full time. As I understand it, one can start drawing their social security without a reduction or penalty the ye...
reddit.com
10 States Where Retirees Get Smaller Social Security Raises
Nov 01 2024
Geography doesn't dictate how much Social Security you will receive. However, employment opportunities, pay scale and lifetime earnings impact your monthly benefit greatly....
kiplinger.com
A solution to keep Social Security solvent
Nov 01 2024
We recently received an email from AARP requesting us to email Congress for the continued funding of Social Security. While this is a worthwhile endeavor, it does not provide a solution and who knows ...
community.aarp.org
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About Social Security
Social Security is a government-run program in the United States that provides a source of income for retirees, as well as for people who are disabled or the survivors of deceased workers. The program is funded through payroll taxes, and it is designed to provide a basic level of financial security for those who are no longer able to work.
To be eligible for Social Security benefits, an individual must have worked and paid into the Social Security system for a certain number of years. The amount of benefit that an individual receives is based on their earnings history, with higher earners receiving a higher benefit.
In general, people are eligible to receive Social Security retirement benefits when they reach the full retirement age, which is determined by their date of birth. The full retirement age is currently 66 for people born between 1943 and 1954, and it is gradually increasing to 67 for those born in 1960 or later. However, people can begin receiving reduced benefits as early as age 62, or they can choose to delay receiving benefits until after their full retirement age, in which case they will receive a higher benefit.
It is important to note that Social Security benefits are not intended to be the sole source of income for retirees. Rather, they are meant to supplement other sources of retirement income such as savings, investments, and pensions. It is important to plan for retirement and consider all sources of income that may be available to you.