Social Security
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Social Security Planning: Is Your Financial Advisor Asking You These Questions?
Mar 04 2024
Here is a list of questions your financial advisor should ask for you to maximize your Social Security benefits and determine your overall financial goals....
forbes.com
How to Maximize Social Security with the “Bridge Strategy”
Mar 02 2024
One of the most critical decisions we make once we decide to retire is decisions related to Social Security. Specifically, ... Read more...
physicianonfire.com
Ryan & Tyson Thacker Scheduled to Appear on Spotlight Television Hosted by Industry Legend Tom Hegna
Feb 29 2024
These Retirement Brothers are solving the retirement crisis. Coming up on Fox Business is a special episode on how to get the most out of your Social Security benefits. By:Spotlight Television NEW YOR...
bossretirement.com
How Early Retirement Will Impact Your Social Security Benefit
Feb 29 2024
Learn how your Social Security benefits could be reduced if you retire early....
money.usnews.com
Listener Q&A: Lifetime Tax Savings, Social Security Scenarios, Retirement Spending
Feb 28 2024
Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for more answers to listener questions about...
keilfp.com
Social Security Benefits Seem To Be Increasing, But Are They Really?
Feb 27 2024
One big reason: Rapidly rising Medicare premiums that usually are deducted directly from Social Security checks....
forbes.com
41% of Near Retirees Fail Basic Social Security Quiz
Feb 26 2024
Nearly 80% failed or barely passed annual quiz from MassMutual; less than 1% got an A+...
401kspecialistmag.com
? NEW Stimulus Checks Are NOT Coming to SENIORS (AARP Article)
Feb 22 2024
HMMM, I WONDER "IF" THEIR INTENTION IS TO SCAM SENIORS? ? Are Social Security Beneficiaries Getting a Fourth Stimulus Check? NO, but websites and social media are spreading MISINFORMATION. By Andy Mar...
community.aarp.org
Social security while staying in India
Feb 22 2024
Hello, I am a US citizen and eligible for social security. I am presently in US, but planning to move to India for extended duration. I have following questions: Will I get social security while I am ...
community.aarp.org
Withdrawing from 401K on Social Security When Does Income Tax Start?
Feb 18 2024
I retired at 60 and have been living on savings for a couple of years. Late last year I reached 62 and started receiving my SS benefits. So I'm not worried about paying taxes on my annual income for 2...
reddit.com
Social Security You earned it you keep it
Feb 17 2024
We need to get our Congress Representatives to support the 'You earned it you keep it' bill. This allows for raising the cap on the taxable earnings and stopping the federal taxes on SSN. This would k...
community.aarp.org
Killing 401(k) Tax Benefits Could Help Save Social Security, New Research Shows
Feb 15 2024
Workers would lose a key retirement planning benefit as a tradeoff for funding Social Security....
money.com
2024 Maximum Social Security Benefit
Feb 15 2024
Learn more about the maximum Social Security benefit and how it affects retirement planning...
forbes.com
Early 2025 Social Security COLA Forecast Inches Up on Inflation Data
Feb 15 2024
Long-term projection still sits well below this year’s 3.2% increase...
401kspecialistmag.com
Can they prepull a Social Security Supplement based on a projection and not an actual wage?
Feb 15 2024
Recently I was informed by a Social Security representative they would hold several months of my supplement now based on projected income earnings over the Federal mandate of allowed annual earnings o...
community.aarp.org
Is Retirement Income From Social Security Taxable?
Feb 13 2024
You’ve contributed towards your Social Security benefits for decades (via your paychecks). Now you should know how much of your Social Security will be taxed....
forbes.com
? How COLAs Can Make Your Social Security Income Taxable (AARP Article)
Feb 08 2024
Inflation bumps up benefit payments — but not the income thresholds that make them taxable. By Andy Markowitz. Published February 06, 2024. https://www.aarp.org/retirement/social-security/info-2...
community.aarp.org
Social Security’s Longevity Insurance Protects Those with Uncertain Life Expectancies
Feb 07 2024
The insurance enhances Social Security’s role of offsetting Black/White inequality. My colleagues have just completed a really interesting study pertaining to the progressivity of Social Securit...
crr.bc.edu
Suspended Benefits in Mexico
Feb 07 2024
I am a US citizen who lives on a fixed income in Jalisco,Mexico. I receive SSDI and live from month to month. Every year there is a form 7162 that needs to be filled and returned to social security, i...
community.aarp.org
How Will Your State Tax Your Social Security Benefits?
Feb 05 2024
Many Americans depend on Social Security to make ends meet each month. Where you choose to live in retirement how much taxes you owe on Social Security....
forbes.com
Your Social Security Survivor Benefits
Feb 05 2024
Losing a loved one can feel truly overwhelming. From paperwork to arrangements to finances, the to-do list can be daunting in an already vulnerable time. One of the things that can help ease the finan...
theretirementsolution.com
SSA Responds to Bill Aiming to Remove Social Security Taxes for Retirees
Feb 04 2024
Social Security Administration Chief Actuary Stephen Goss believes the enactment could…...
401kspecialistmag.com
What factors did you consider in determining when to take Social Security?
Feb 04 2024
I know that there’s lots of advice out there and of course much of it is contradictory. And also, there’s no “one-size-fits-all” answer. So I’m curious what all went into...
reddit.com
Length of time for application review
Feb 03 2024
I applied for social security on 1/1/24. My application is still in the review process even though the ss website says 2-4 weeks. I can’t call or email anyone in ss. I want to give notice at wor...
community.aarp.org
Social Security Claiming Discussion 2/1/2024
Feb 01 2024
Hello, many of us did (or will watch soon, or watching now as I create this) an interview with Mike Piper, the creator of the popular tool - https://opensocialsecurity.com by Rob Berger on his YouTube...
reddit.com
Selling/Moving Dilemma Advice/Experience?
Jan 30 2024
I will be retiring December of this year. Husband retired a few years ago. We are not yet collecting SS since I'm working full time and there's no need to yet. We have a home that we will be selling a...
reddit.com
American Academy of Actuaries Reinserts Caveat Language into Their Social Security Challenge/Game
Jan 30 2024
Kudos to the American Academy of Actuaries (AAA) for reinserting the following caveat language in its Social Security Challenge tool. “The following should be noted when interpreting results fro...
howmuchcaniaffordtospendinretirement.blogspot.com
This Social Security Mistake Could Cost You $111,000 in Retirement | The Motley Fool
Jan 28 2024
Around 96% of retirees are making this mistake, researchers found....
fool.com
Facts You Need To Know Before Taking The Social Security Lump Sum Cash Option
Jan 26 2024
Social Security makes it seem like free money, but you pay for it the rest of your life....
forbes.com
The Psychology Behind Starting Social Security at 62
Jan 25 2024
Social Security supplies a substantial share, and often the majority, of a retiree’s income. For these older workers delaying signing up for their benefits is often a smart strategy. For every y...
crr.bc.edu
When Social Security Recipients Will Get Their Checks This Month
Jan 24 2024
Social Security payments are distributed based on your birth date and other factors. Here's the schedule for January 2024....
money.com
Income Tax On Social Security Benefits
Jan 23 2024
As we approach April 15, let’s discuss the federal taxation of Social Security benefits. Taxable benefits include retirement & spousal, survivor, and disability benefits....
forbes.com
Why did my monthly benefit estimate for when I retire in three years increase from 2023 to 2024?
Jan 23 2024
Greetings. I am retired but not yet collecting social security, which I plan to do when I turn 67 in about 4 years. I use some retirement planning models which have you look up you projected benefit a...
community.aarp.org
Limits on Social Security Disability Coverage
Jan 22 2024
Photo credit: steelo When you leave full-time employment, there is a period of time after that when you will continue to be covered by Social Security Disability Benefits. Welcome to the 20/40 Rule. T...
financialducksinarow.com
Trump Vows To ‘Always Protect Social Security’—But What Does He Mean?
Jan 22 2024
The bottom line has been clear for many years: Barring congressional action, Social Security will be unable to pay retirees their full promised benefits within a decade....
forbes.com
Question on spouse taking SS early and possible income penalty
Jan 22 2024
My wife is no longer working, so she has no income. She just turned 63. If she starts taking her SS now, does she get penalized for my income if we file taxes jointly? Her difference between taking at...
reddit.com
Actuaries Confuse the Primary Causes of the Social Security Funding Shortfall
Jan 20 2024
The American Academy of Actuaries (Academy) recently published its annual Actuarial Perspective on the annual OASDI (Social Security) Trustees Report. Usually, these briefs are published by the Academ...
howmuchcaniaffordtospendinretirement.blogspot.com
What to do after we reach the TDF end?
Jan 20 2024
My SO and I both recently retired at 62 however most of our 401Ks are in target date funds for when we turn 67. Currently we are able to live off SS and pensions and don't need to touch the 401Ks. Giv...
reddit.com
It's been 5 months and getting no answers from SS
Jan 20 2024
I applied for SS retirement benefits on August 17, 2023. At that time I also applied for disability but to be honest I wasn't hopeful for that. My retirement is at step one of 3 and my disability is c...
community.aarp.org
Top Social Security Strategies For Married Couples
Jan 19 2024
Married couples can boost their lifetime retirement income by many thousands of dollars by using creative strategies to claim their Social Security benefits....
forbes.com
When you call Social Security, expect to wait even longer
Jan 19 2024
Few government agencies touch the lives of more Americans than the Social Security Administration — the agency pays $1.4 trillion in benefits to more than 71 million people every year. But Socia...
retirementrevised.com
Social Security survivor benefits for spouse of expat - some questions
Jan 17 2024
Here's what I'm trying to do and what I found out, but would like to confirm. I'm a U.S. citizen and permanent resident of Japan, having lived here 40 years. I live with my same sex partner of more th...
community.aarp.org
The Case for Using Subsidies for Retirement Plans to Fix Social Security
Jan 16 2024
Thebrief’skey findings are: Tax preferences for saving in retirement plans are expensive – about $185 billion in 2020, according to Treasury estimates. Strikingly, they also seem a bad dea...
crr.bc.edu
The Case for Using Subsidies for Retirement Plans to Fix Social Security
Jan 16 2024
Introduction The U.S. Treasury estimates that the tax preference for employer-sponsored retirement plans and IRAs reduced federal income taxes by about $185-$189 billion in 2020, equal to about 0.9 pe...
crr.bc.edu
6 Tips To Maximize Your Social Security Benefits
Jan 16 2024
Maximizing your Social Security benefits is impertive. We share 6 tips to get the most money from Social Security in retirement....
forbes.com
Higher Social Security Benefits May Mean A Tax Bill For Seniors This Year
Jan 16 2024
Seniors saw a boost in Social Security benefits in 2023. But there's a downside—the increase may result in a higher tax bill this tax season for some taxpayers....
forbes.com
How to Maximize Social Security Spousal Benefits
Jan 16 2024
James addresses a common concern for a couple approaching retirement through a listener’s question. Listener Rob plans to collect Social Security early at 62, raising questions about his wife&rs...
buzzsprout.com
The Maximum Social Security Benefit in 2024 – and How to Earn It
Jan 12 2024
Learn how to increase your Social Security benefit in retirement....
money.usnews.com
Retirees Share Experiences with Social Security Sign-up
Jan 11 2024
By the time Millennials and Generation Z retire, signing up for Social Security online will no doubt be second nature. It’s been a little rockier for the less technologically adept baby boomers....
crr.bc.edu
Bug In Online Social Security Benefits Calculator?
Jan 11 2024
My plan was to wait until age 70 to collect my Social Security benefits based on getting an extra 8% per year for delaying. The figures shown on the Social Security web site don't line up with this. I...
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.