Social Security
Showing 50 results of 469
Which States Tax Social Security Benefits? Missouri, Nebraska Change Rules
Jan 03 2024
Learn all about Medicare plans and costs for different parts of the plan with Money's expert guide....
money.com
Social Security Benefits and Working While Receiving
Jan 03 2024
I have a slightly oddball question that doesn't seem to fit anywhere. The text of the letter I just received from SSA says this about working while collecting: "When you reach your full retirement age...
reddit.com
200 People Already Paid Their Social Security Taxes: Happy New Year!
Jan 02 2024
Elon Musk earned $160,200 in about 4 minutes. In the first few hours of 2024, over 220 U.S. workers will have likely paid their Social Security taxes for the entire year. In contrast, over 160 million...
forbes.com
I'm 69 and thinking hard about leaving full-time work
Dec 30 2023
Only about 10% of people wait until they are 70 to collect Social Security and get all the reasons, expected longevity, current health, and so on. I'm 69 and two months and now thinking hard about ret...
reddit.com
What America’s Retirement Downgrade Means To You!
Dec 26 2023
Tax increases, stubborn inflation, skyrocketing healthcare costs… And Social Security’s running out of money. It’s no wonder America’s retirement system just got downgraded. H...
bossretirement.com
Timing on Taking Social Security
Dec 21 2023
It seems like a simple question, but I cannot get a straight answer, arrg!!! Help! If I retire at 64, and no longer work, and I decide not to take SS benefits until 67, will the SS amount continue to ...
community.aarp.org
What Is the Social Security Administration?
Dec 21 2023
Learn about how Social Security programs support retirees, people with disabilities and more....
money.usnews.com
Financial management thoughts, recent developments
Dec 21 2023
My wife and I are both retired at 67. I'm deferring Social Security until 70 to maximize the monthly benefit; my wife is collecting hers because it makes sense to. Our lifetime, based on family, will ...
reddit.com
Understanding the Characteristics and Needs of Tribal Community Members for Social Security Delivery
Dec 20 2023
Abstract This paper examines the Social Security Administration’s (SSA) ongoing efforts to strengthen its relationship with tribal communities across the U.S. We conducted a descriptive study of...
crr.bc.edu
Social Security Benefits Have Been Earned and Will Be in the Future
Dec 20 2023
Benefit/contribution ratios provide no guidance on how to fix Social Security. Two of my friends – Andrew Biggs (“No, Social Security Isn’t Earned”) and Gene Steuerle (“L...
crr.bc.edu
The Protective Filing Statement
Dec 18 2023
Photo credit: jb When planning for your Social Security benefits, there is an additional tactic that you may never have heard of: the Protective Filing Statement. This statement is a way to apply for ...
financialducksinarow.com
Encore: 6 Social Security Mistakes That Can Damage Your Retirement
Dec 18 2023
In today's encore episode, we're talking about how to avoid the six most common Social Security mistakes. Some of these mistakes can be easily corrected. However, others can result in long-term or eve...
sites.libsyn.com
Social calculation of full retirement date
Dec 18 2023
When I go to social security site It shows an amount at different ages and lines from 62-70. I plan to retire at 64 but not take social until 67. I know they do a 40 year look back. But is that amount...
reddit.com
Does it make sense to cash out my term 70 life ins policy?
Dec 16 2023
I (65f), divorced. My income is Social Security plus some side income from selling crafts. I have a partner of 10 yrs who is quite comfortable in their retirement funds and helps keep our standard of ...
reddit.com
The Impact of Past Incarceration on Later-Life DI and SSI Receipt
Dec 14 2023
Abstract In the three decades from 1980 to 2010, there was a steady rise in the number of men receiving Social Security Disability Insurance (DI) benefits. The number of beneficiaries peaked in 2012 a...
crr.bc.edu
Am I Ok to retire at 67? Will I have to work? I live frugally.
Dec 14 2023
Im 56 have $490k in a Roth, $60k in Traditional IRA will collect $1299 in pension in 10 years with an estimated $3900 a month in SS in 10 years. $75k in savings. Can I retire in 10, or will I have to ...
reddit.com
More Americans Are Optimistic They’ll Get Social Security Benefits When They Retire
Dec 13 2023
Pessimism about Social Security appears to have peaked a decade ago....
money.com
When Should You Collect Social Security if Your Spouse is Much Older?
Dec 12 2023
James addresses a listener's question regarding Social Security strategies in retirement. Sasha, aged 59, seeks advice on when to start collecting Social Security, considering her husband's benefits a...
buzzsprout.com
How the 2024 Social Security COLA May Impact Retiree Tax Bills
Dec 11 2023
Understand how Social Security payments are adjusted for inflation and think about your taxes for the coming year....
money.usnews.com
Social Security – Beware The Annual Earnings Limitation
Dec 08 2023
Whenever you apply for Social Security benefits before your full retirement age, those benefits are always reduced....
forbes.com
It Is A Good Time To Address America’s Retirement Challenge
Dec 08 2023
The current strong economy is an opportunity to address the Social Security shortfall, update contribution rates, and expand retirement savings options....
forbes.com
How Can Changes to Social Security Improve Benefits for Black and Hispanic Beneficiaries?
Dec 08 2023
Abstract This paper compares Social Security outcomes for non-Hispanic Black, Hispanic, and non-Hispanic white beneficiaries and assesses the capacity of various benefit enhancements to narrow racial ...
crr.bc.edu
Social Security Combined With Teacher Retirement
Dec 07 2023
My wife is a teacher in a public school system in Georgia, and plans to retire at the end of the current school year. The system she has always worked for (35 years) does not participate in Social Sec...
community.aarp.org
Utah retirement experts issue critical warning about Social Security
Dec 05 2023
Retirement experts Tyson Thacker and Ryan Thacker have issued a critical warning to Utah residents who are planning to file for Social Security in the next five years. “Social Security is a crit...
bossretirement.com
Social Security Taxes vs. Benefits: Americans Take Far More Out Than They Pay In
Dec 03 2023
New Urban Institute report shows the average American will receive much more in benefits…...
401kspecialistmag.com
What do you cash in first, IRAs or non-IRAs?
Dec 01 2023
What do you cash in first, IRAs or non-IRAs? We have a gap of 4-6 years between retirement and claiming SS. We need to draw from savings, should we cash the IRAs or the non-IRAs (mainly 401k's and mon...
reddit.com
Plow social security payments back into retirement account?
Nov 30 2023
My husband (66) has always been the primary breadwinner. He was laid off from his corporate job in 2004 and started his own consulting business. We've made it through, but there's never been extra mon...
reddit.com
The Affect of Earnings on Your Social Security Benefit
Nov 27 2023
Photo credit: coop Your wage earnings and other income can impact your Social Security benefit in several ways. These earnings can increase the amount of your Social Security benefit that is taxable. ...
financialducksinarow.com
Spousal Benefit Calculation - Will SSA provide max payment?
Nov 27 2023
I am in the process of submitting application on the SSA web site for my wife to start collecting social security benefit at FRA in February 2024. Will SSA automatically calculate her maximum payment,...
reddit.com
Incremental Payment of Social Security when starting between age 68 and 69
Nov 27 2023
I am starting Social Sec at 68 and 10 months. On the Soc Sec graph at 68 I would have received (this is an example) say $2700 and at 69 say $3000. When I took it at 68 and 10 months I am still only re...
community.aarp.org
Collecting Social Security Benefits
Nov 26 2023
I am 65 years old and I want to start collecting my SS benefits now. My full retirement age is 66 and 8 months. I was told by SS agent that if I work and make money while collecting Social Security be...
community.aarp.org
2024 Social Security Statement
Nov 26 2023
I received my Social Security statement last night for 2024 COLA increase. For those that are interested check the SS site and see if yours is available....
community.aarp.org
The Top 5 Financial Fears For the Next Generation of Retirees
Nov 20 2023
You may not realize it … The skyrocketing cost of healthcare. Continued inflation. Social security on life support. And the threat of higher taxes coming soon. Americans have a long list of con...
bossretirement.com
5 Reasons Why You Should Delay Your Social Security Benefits As Long As Possible
Nov 14 2023
As my retirement approached in 2021, my wife and I collaborated closely with our financial advisor to determine our streams ... Read more...
physicianonfire.com
Race is a Factor in Where We Get Social Security Info
Nov 14 2023
The first place most people say they would go for information about Social Security’s various benefits is family and friends. That’s true whether they are Black, White, Asian, or Hispanic....
crr.bc.edu
Three Reasons to Take Social Security Early
Nov 14 2023
The experts typically say that you’re better off waiting. But that isn’t always the case....
wsj.com
Want Medicare. No social security until later
Nov 13 2023
Trying to sign up for Medicare online but the process keeps walking me through Social Security benefits which I DON’T want yet. Is this usual? How do I get on the correct path? submitted by /u/a...
reddit.com
How the federal government has failed the next generation of retirees
Nov 08 2023
The next wave of retirees will face a grim reality as they grapple with a government system that is failing them on multiple fronts. These daunting challenges include the Social Security Trust Fund ru...
bossretirement.com
5 Misconceptions About Filing for Social Security That Could Cost You a Fortune
Nov 07 2023
You may not realize it … But filing for social security could be one of the most important financial decisions in your life. Because the difference between your best and worst case scenarios&he...
bossretirement.com
Social Security And Medicare: Determine When To Take Your Best (…and Only) Shot
Nov 07 2023
For seniors, Social Security and Medicare are arguably two of the most prominent issues. You should not make these two important decisions on your own....
forbes.com
What Happens to Social Security Benefits When You Die?
Nov 07 2023
Here's what happens to your Social Security benefits when you pass away....
money.usnews.com
Question about taking Social Security early and working
Nov 02 2023
I will reach FRA in April, 2025. I plan on taking SS early, in Jan, 2024. I am still working and I understand that if I earn over the approx 22K amount, I will be subject to the $1 reduction per $2 ea...
reddit.com
I’m retiring at 63, will my SS be taxed at a excessive rate if I have a pension?
Nov 02 2023
I will be retiring with generous pension, paid in social security for 40 years full time. I’m told they will tax my SS benefit about 85%. I’m holding off applying until I know for sure. I ...
reddit.com
Why Some Retirees Won't Get the Full 3.2% Social Security COLA Next Year
Nov 01 2023
The American Federation of Government Employees calls the reduced raise a "diet COLA."...
money.com
The New York Times Greedy Geezer Myth
Oct 28 2023
The intergenerational-conflict myth is weaponized to cut Social Security and Medicare and make people work longer. The intergenerational – conflict myth intones that politicians who cut spending...
forbes.com
Ask Before Quitting
Oct 27 2023
As we approach retirement, we often find ourselves immersed in a sea of financial considerations, pondering our savings, Social Security ... Read more...
physicianonfire.com
Social Security - early distribution math question
Oct 27 2023
I’ve been doing an analysis of whether to take social security early (before 67) or not, and I wonder whether I am doing the math properly. If I compare taking SS at (a) age 62 versus 67, and al...
reddit.com
Social Security Rises In 2024, Offset By Inflation And Medicare
Oct 26 2023
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 3.2% starting in January 2024....
forbes.com
Could Social Security Child Benefits Help Grandparent Caregivers?
Oct 24 2023
Thebrief’skey findings are: Grandparents raising grandchildren are often under financial stress but – without legal custody – tend to get little formal support. Importantly, Social S...
crr.bc.edu
Social Security timeframes vary, why is that?
Oct 24 2023
First a bit of backstory. I’m still five years away from retiring. I set my goal at 65, and with an IRA and 401k currently sitting at 700k, I feel comfortable with my five year plan. Especially ...
reddit.com
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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.