Social Security
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Cuts to Social Security Benefits Could Top $21,000 for High-Income Couples
Sep 12 2024
Benefits will be slashed 21% starting in 2033 if Social Security is not fixed, according to a new report. This is how much you could lose in annual benefits....
kiplinger.com
Some Social Security Recipients Won't Get a Payment in September (and That's OK)
Sep 10 2024
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money.com
The Financial Benefits and Drawbacks of Working During Retirement, Ep #224
Sep 10 2024
Retirement planning is a delicate process, and you need to carefully consider your various income streams, including Social Security benefits. For those of us who plan to continue working while claimi...
financialsymmetry.libsyn.com
Why You Should Expect a Lower Social Security COLA for 2025
Sep 09 2024
Avoid the COLA social security dip in 2025 with a Health Savings Account...
kiplinger.com
Social Security Administration Announces New Streamlined SSI Application
Sep 06 2024
The new SSI application is intended to make the application process less burdensome and challenging....
kiplinger.com
Living off investments while delaying SS Benefits to max (70 years old)
Sep 06 2024
Is this a strategy? The maths work, but it feel wrong. Living off investments while delaying SS Benefits to max (70 years old). I can retire now (61) and live off my investments until 70. This would m...
reddit.com
Social Security Calculator and Early Payments
Sep 01 2024
Is it possible to use the SSA.gov calculator to determine your payment amount if I retire at 62 (or some other age) and delay payments until another age, say 63. I believe, but could be wrong, that th...
reddit.com
Changes are needed
Sep 01 2024
We Need changes now for Social Security. They have been kicking the can down the road to long. This is not "Charity". We need a New calculation for COLA. This next year 2025, You will be paying anothe...
community.aarp.org
Harris' Stances on Social Security and Medicare
Aug 31 2024
A look at Kamala Harris' stances on Social Security and Medicare, including her history with the programs....
kiplinger.com
Trump's Stances on Social Security and Medicare
Aug 31 2024
Kiplinger looks at Donald Trump's stances on Social Security and Medicare, including what he did as president....
kiplinger.com
Want to Move to Portugal? What to Consider Financially
Aug 31 2024
Knowing what to expect when it comes to your taxes, investments, real estate, Social Security benefits and other money-related issues is critical....
kiplinger.com
5 Proposals to 'Fix' Social Security — and How They Could Affect Your Benefits
Aug 30 2024
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money.com
Americans Unfamiliar With How or When to Take Social Security Benefits
Aug 30 2024
And only 22% have talked about their Social Security concerns with an advisor, reports Allianz Life...
401kspecialistmag.com
Three Changes Coming for Social Security in 2025
Aug 29 2024
Use these three changes in Social Security to plan ahead for 2025....
kiplinger.com
What Documents Do You Need When Applying For Social Security?
Aug 29 2024
To make the process of filing for Social Security benefits easier, it’s important to know what documents you need when applying. Here are the documents you need to collect....
forbes.com
Do You Prefer Trump or Harris on Social Security? Here's What One Survey Shows
Aug 27 2024
A new survey asked if Harris or Trump will better protect Social Security. The GoBankingRates report shows who 1,000 Americans prefer....
kiplinger.com
Seeking investment advice for a concerened 61 yr old.
Aug 26 2024
I am 61 years old. Reasonably healthy and still working. Wife is 65 and on disabilty but better after 2 new knees. I don't have any retirement plan other than SS. We just paid off our house, vehicles ...
reddit.com
Should You Delay Social Security if You're Wealthy?
Aug 25 2024
Here are three scenarios in which you might want to consider claiming Social Security benefits later if you have saved a significant chunk of change....
kiplinger.com
Need to be careful not to jump the gun
Aug 24 2024
...or maybe I don't. I got to "the number" in my retirement account, and I'll get a small pension (about $800/month), and social security. I'll be 60 in a couple of months. I'm also not happy with my ...
reddit.com
How Much Money Could The Social Security 2025 COLA Deliver?
Aug 22 2024
Learn about 2025 Social Security’s COLA to help you maximize the money you receive over your lifetime....
forbes.com
Americans Want Social Security Boosted Now
Aug 21 2024
A very high amount of Americans say they want to see Congress act now to protect funding for Social Security....
kiplinger.com
Social Security COLA Increase for 2025 Could Be the Lowest in Four Years
Aug 20 2024
The Social Security COLA increase is likely to be the lowest since 2021 as new reports showing inflationary pressure subsiding....
kiplinger.com
Listener Voicemails: Social Security, Trusts, and IRA Math Mysteries
Aug 19 2024
In this episode we’re answering listener voicemails and tackling some tough questions about Social Security, RMDs, estate planning, and more. First up, we help Diane, whose husband is a minister...
sites.libsyn.com
New Retirement is pessimistic, but 4% rule seems to give us more than enough
Aug 17 2024
I don't understand why if I go by the 4% rule, my SS payment and our budget, we have plenty of money left over, without even counting on collecting my husband's SS payment in 9 years. But New Retireme...
reddit.com
Happy 89th Birthday, Social Security!
Aug 17 2024
August 16, 2024 – This week Social Security celebrated its 89th birthday. To celebrate, WISER is highlighting key tips and information you need to know about this important program and what impa...
wiserwomen.org
Weighing the Pros and Cons of Taking Social Security at Age 62
Aug 15 2024
You should delay taking Social Security until you reach age 70. Unless, of course, you shouldn't. Or can't. Yes, my team at Keen Wealth generally advises folks to delay their benefits as long as possi...
keenonretirement.libsyn.com
What Younger Generations Need To Know About Social Security, Medicare
Aug 14 2024
Misunderstandings about the solvency of Social Security and Medicare adversely affect the retirement planning of younger generations....
forbes.com
On Social Security’s Birthday, Let’s Give It The Gift Of A Long-Term Funding Solution
Aug 14 2024
Social Security celebrates its 89th birthday today, but this highly popular and effective anti-poverty program needs a long-term funding solution....
forbes.com
To Fix Social Security, Increasing the Wage Base Should Be Part of the Solution
Aug 14 2024
I would argue for moderation. I usually have a strong opinion on issues in my sphere, but have been going back and forth about one component likely to be in any package to fix Social Security – ...
crr.bc.edu
Spousal SS Benefits
Aug 14 2024
My wife is 5 years older than me. If she starts taking her SS at her full age, it will be around $900/month. When I retire and take SS at my full age, half of it will be around $1800/month. Can my wif...
community.aarp.org
Social Security Benefits – Spousal Or Survivor? - Which One?
Aug 13 2024
There is often confusion between a spousal benefit and a survivor benefit. There is a difference as they are two totally separate benefits....
forbes.com
A Framework for Claiming Social Security Retirement Benefits
Aug 12 2024
At Abundo Wealth, we have a growing team that provides individualized advice to every client based on their unique circumstances. However, we prioritize applying a consistent framework for providing t...
caniretireyet.com
Here's What's Wrong With Trump's Pledge to Repeal Taxes on Social Security Benefits
Aug 12 2024
Eliminating taxes on Social Security benefits could impact your finances. Here's what you need to know....
kiplinger.com
Where the Candidates Stand on Social Security
Aug 09 2024
As the presidential election draws closer, a look into possible Social Security policies…...
401kspecialistmag.com
Raising Social Security Retirement Age ‘Would Cut Benefits by Thousands’: Analysis
Aug 08 2024
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money.com
Retired and living on Social Security checks?
Aug 08 2024
Hi -- I am a reporter at USA Today, and I am halfway through an article about people who are retired and living on their Social Security checks. I want to find a few more people to interview. If you a...
reddit.com
Yes, You Can be Trained to Detect Imposter Scams
Aug 07 2024
It is not difficult to find people who have received a fake email claiming to be from the government or a retailer asking them to clear up a problem with their Social Security number, tax filing, or r...
crr.bc.edu
Does AARP support the idea of no taxes on Social Security benefits?
Aug 07 2024
I'm interested in the idea of no taxes on Social Security benefits. I understand that this is a campaign promise by a presidential candidate but feel it is something that AARP should support....
community.aarp.org
When is the Best Age to File for Social Security?
Aug 06 2024
Did you know… 96% of Americans forfeit an average of $111,000 in social security income… And it’s all because they file for their benefits… at the wrong time. Discover how&h...
bossretirement.com
Marry to give partner SS Benefits?
Aug 02 2024
I am fairly well off financially at 52 and have paid the max into SS for the last 15+ years. I began dating a great younger lady (37) who does not have a lot savings and lives pay check to paycheck (s...
reddit.com
Why Trump’s Repeal Of Social Security Benefits Taxes Could Speed Insolvency
Aug 02 2024
The tax cut would reduce Social Security and Medicare revenues by $1.5 trillion over the next decade, sharply reducing benefits for millions of recipients...
forbes.com
Social Security Benefits Have Lost 20% of Their Buying Power Since 2010: Report
Jul 29 2024
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money.com
Actuaries Double Down on Questionable Primary Cause of Social Security’s Financial Deterioration
Jul 29 2024
Last week, the American Academy of Actuaries (AAA) released An Actuarial Perspective on the 2024 Social Security Trustees Report. This Issue Brief was released about six months after the release of th...
howmuchcaniaffordtospendinretirement.blogspot.com
Social security early for working spouse
Jul 28 2024
This might seem like an odd question but I've been getting conflicting advice. Husband 71 and retired with pension and SS. I'm 65 and working full time at the moment. My full SS is 66, 10 months. My h...
reddit.com
Social Security Login Changes Taking Effect Soon
Jul 26 2024
my Social Security accounts created before 2021, are transitioning to the Login.gov platform....
kiplinger.com
Social Security and Working: Everything You Need to Know
Jul 26 2024
Here is what you need to know about Social Security and working: taxes, penalties, when to start benefits, and when to stop work. The post Social Security and Working: Everything You Need to Know appe...
newretirement.com
Solving Social Security’s Funding Shortfall Requires Acknowledging Uncertainty
Jul 26 2024
We know what we are dealing with, and can take steps to address it. The key metric used to summarize Social Security’s financial status is the 75-year deficit. This number is the present discoun...
crr.bc.edu
Social Security Issues Two Alerts
Jul 26 2024
The Social Security Administration recently issued two alerts, one describing an important change and the other warning about a new scam....
forbes.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.