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.
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I'm preparing for RMDs. I normally make a series of charitable contributions, which are at least partially funded by Regular IRA withdrawals. From what I understand, QCDs can be beneficial in the foll...
A perennial question in the financial literature is at what age is the best to begin Social Security benefits. Here's how I decided for me. The post When to Begin Social Security Benefits — How the Ma...
Waiting until 70 to claim Social Security has its benefits, including maximizing your paycheck, but there are also valid reasons why you shouldn't wait.
Understand how projected Social Security funding shortfalls could affect your claiming strategy, potential benefit cuts and the best age to file based on your situation.
As Social Security barrels toward projected cuts, a newly launched federal savings initiative could privatize the program.
If you have a pension and $1 million-plus saved, deciding when to take Social Security is about optimizing your taxes, legacy planning and long-term income.
Wife and I are retired and trying to decide on SS timing. I'm 61, she's 64. Using open social security, it shows that the best strategy is her now (probably passed the window already) and me at 70. Th...
Erin Moriarity shares her take on Social Security timing, building a retirement income floor, and when to stop going DIY and hire a CFP. The post Erin Talks Money: What She Wants Retirees to Know appe...
After working for 27 years for the same organization, I found out in late April that my job was being eliminated as of July 1st (a story for another post) I am 64, divorced with two grown children. My...
Six Essential Tips for Any IRS Letter Before diving into the specifics of the five most common letters, we share six universal tips to ground your response: Don't Panic – IRS notices are routine, and ...
If nothing is done, Social Security benefits will need to be cut by 22% in 2033.
I recently met with a 71-year-old retiree who relies on Social Security for a sizable share of her retirement spending. She’s concerned about recent news that the Social Security retirement trust fund...
An updated model pushes the projected fund depletion back by a few months, but financial experts warn that core concerns remain unchanged.
From sticky inflation to Social Security deadlines, a look back at the 50-year evolution of our personal economies as we celebrate the Semiquincentennial.
This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
Claiming Social Security early might seem counterintuitive for the ultrawealthy, but one advisor says that when the benefits are used to fund life insurance in an irrevocable trust, the strategy could...
am I getting that right? so if you are over the full retirement age - in my case 67 - if I decide for whatever reason to go back to work, I can receive full social security benefits without any penalt...
Florida is the future retirement home. I’ve called Florida home for almost 50 years. I travel extensively for work and met BF six years ago. BF, future husband, lives in AZ. Plan is to sell both our r...
Social Security isn't going bankrupt—but a 22% benefit cut looms in 2032. Here's what's driving the shortfall and the proposals that could shape its future.
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureFreeAssessment 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Weal...
I am 63 and married for 30 years - husband is 67 and retired from corporate 2+ years ago. We are financially sound - our FA says we are in great shape with nothing to worry about and that I can retire...
Hello, I am recently retired. I am not collecting SS yet. I am living off of my wife's small income and a severance I received from work. I have a very healthy 401k balance a few small pensions so we ...
Prudent retirement planning requires using a planning horizon longer than your life expectancy. In prior posts we have recommend using the Actuarial Longevity Illustrator and the three-step process ou...
Electronic Social Security payments are being touted as faster and safer than paper checks. But those who rely on them will need support to make the transition.
Social Security's trust fund will be depleted earlier, according to the latest estimate from the system's trustees. That estimate could be optimistic.
I just found out that I can join a Silver Sneakers gym while traveling at no additional cost. I travel to my hometown for a week or two about once a quarter and this will be a great benefit to keep me...
Social Security is phasing out paper checks. See what beneficiaries need to do now to ensure payments continue without interruption.
Most people spend decades preparing financially for retirement. They contribute to retirement accounts, pay down debt, evaluate Social Security strategies, and work with advisors to make sure their sa...
With the clock ticking toward the Social Security fund's projected insolvency, advisors might take different approaches depending on clients' ages and levels of wealth.
As funding questions persist for Social Security and Medicare Part A, speakers at the recent AICPA conference discussed how advisors can guide clients through complex benefit rules and options.
How much do you know about the impact on Social Security, taxes and healthcare when you work past retirement age or decide to "unretire"?
Schedule a free financial assessment with an experienced professional at Pure Financial Advsiors: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=fre...
Most retirement advice isn't wrong. It's incomplete. And following incomplete advice for 30 years is how people end up financially ready for retirement but completely unprepared to live it. I've seen ...
Hello all, i am still a few years from retirement, but trying to prepare in advance. I have used Boldin to try to figure things out and watched a bunch of videos etc on retirement income etc. however,...
This is the summary - the full report can be accessed by the link on the top or left of the page. Offered without comment. 2026 Social Security and Medicare Trustee Report Summary
A growing number of Americans are working past retirement age. But what happens to Social Security, tax and healthcare when you keep on working?
What if your Social Security benefit is worth far more than you realize, and the decision of when to claim it could be one of the biggest financial choices you'll ever make? As part of our "By the Num...
The 2026 Social Security Trustees Report moves a 22% benefit cut to 2032. The fix is an old idea: tax investment income to retire the program’s legacy debt.
The program’s trustees confirmed that its primary trust fund is now set to run out of money in 2032, potentially triggering automatic cuts.
The latest projections indicate the main Social Security retirement fund will reach insolvency in less than six and a half years. For retirees and their advisors, that could mean a potential rethink o...
Don’t confuse Trust Fund insolvency with Social Security bankruptcy and the inability to pay any benefits.
The trust fund for the program, which supports roughly 68 million Americans, is on schedule to be depleted in the next six years. Benefits could be cut on average by 22 percent.
Roger Whitney explores the relationship between cost and value in retirement planning, focusing on how to better understand the fees associated with financial advice, investments, and insurance produc...
My spouse retired earlier this year primarily due to health concerns. He’s taking his SS early at 64 and will be eligible for a small pension at the end of this year. I’m still working a job that does...
Inflation has been frustrating for retirees, but it could lead to a larger Social Security cost-of-living adjustment, or COLA, in 2027.
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/PureFreeAssessment Heidi from the Space Coast of Florida found a money-saving tidbit in a past episode that comple...
The 2026 OASDI Trustees Report was released today. Last month, we estimated that Social Security’s long‑range actuarial balance as of January 1, 2026 would be –4.14% of the present value of taxable pa...
Back story: - 2015 Spouse retired at 65 and receives SS. - 2021 I retired at 64.6 and receive a monthly pension and SS. - Prior to retirement, we were able to save ~300K in cash. ~400K in 401. In 2014...
Here's the information you need to start your Social Security application.
June 5, 2026 – Almost to the day, today, eight years ago, was my last day at work. One thing I always looked forward to in retirement was never having to pay those dreaded payroll taxes again. Alas, e...