Social Security
Showing 50 results of 467
Explaining the Misperception Behind Social Security Insolvency
Oct 22 2023
A CRR at Boston College report looks at a previous survey that examines why Americans…...
401kspecialistmag.com
Correcting Misperceptions about Social Security’s Fate
Oct 19 2023
Once a year, Social Security reports on the program’s financial outlook but the bottom line doesn’t change: the reserve in the trust fund is running out of money. Many workers and retirees...
crr.bc.edu
Social Security at 62
Oct 19 2023
I see a lot of comments that you should wait until 67 to take you SS as it increases by 7.5% per year. But if my sole income is IRAs (including a lump sum pension), I think it would be better to take ...
community.aarp.org
Social Security’s 3.2% COLA Reflects Cooling Inflation
Oct 18 2023
Cost-of-living adjustment makes sure the backbone of our retirement system keeps pace with rising prices. With the release of the September CPI-W inflation number, the Social Security Administration a...
crr.bc.edu
Filing for Social Security in the next 5 years? Read this first
Oct 18 2023
Did you know that if you made an average income throughout your career, your Social Security benefits could add up to hundreds of thousands of dollars in lifetime income? And if you made an above-aver...
bossretirement.com
How much SS after death of spouse
Oct 18 2023
Both my wife and I are collecting SS benefits. I waited until just short of age 70 to collect. She started collecting at age 63. I receive the larger amount. When one of us passes, how is the survivin...
community.aarp.org
Reasons to Take Social Security at Age 65
Oct 18 2023
Retirees should consider several factors when deciding whether to take Social Security early....
money.usnews.com
The U.S. Gets a C+ in Retirement
Oct 17 2023
Social Security and 401(k) plans leave Americans less secure than retirees in much of the world, a new ranking finds...
wsj.com
Social Security Benefits Will Rise by 3.2 Percent in 2024
Oct 13 2023
Millions of Social Security beneficiaries, from retirees to disabled workers, will receive the cost-of-living adjustment, which is far less than last year’s but still higher than average....
nytimes.com
Social Security Benefits Will Rise 3.2% In 2024, While Top Tax Jumps 5.2%
Oct 12 2023
Up to $168,600 of earnings will be subject to Social Security tax in 2024, raising the taxes taken out of a high earner's paycheck to $10,453....
forbes.com
Modest Social Security Benefit Increase for 2024: Is it Enough?
Oct 12 2023
The Social Security Administration announced a modest Social Security benefit increase for 2024. Beginning next January, Social Security paychecks will reflect a Cost of Living Adjustment (COLA) of on...
newretirement.com
Social Security Cola for 2024 Comes Back to Earth – 3.2%
Oct 12 2023
October 12, 2024 –The Social Security Administration announced today that Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 per...
topretirements.com
2024 Social Security (and other related benefits) COLA
Oct 12 2023
For 2024 - it is 3.2% But don’t get too excited? - Medicare Part B premiums still haven’t been announced - CAME BACK TO EDIT and ADD the new Part B base premium for 2024 - $174.70 CMS.gov ...
community.aarp.org
The Government Is Coming After Social Security Overpayments
Oct 11 2023
One program could help solve a looming $1.3 trillion savings shortfall, but only 11 states are participating....
money.com
How Satisfied Are Retirees with the Social Security Claiming Process?
Oct 10 2023
Thebrief’skey findings are: Despite Social Security’s online tools, many retiring workers still contact an agency representative for help. Both online and in-person applicants report high ...
crr.bc.edu
What SS option is best for a couple? I plan to draw earlier than FRA.
Oct 08 2023
I’m 65, my wife is 62. I plan to start drawing next year, I was going to wait until FRA, but have seen too many people die and get nothing. If I start drawing, what is the best option for my wif...
reddit.com
Is social security factored in as income for alimony in a divorce?
Oct 04 2023
So I have a pension and social security and I'm retired, just for argument sake, if my spouse gets half of my income will she get half of my pension AND half of my social security? She currently does ...
reddit.com
Social Security COLA 2024: What to Do With the Extra Money
Oct 04 2023
Look at your finances to determine how you'll use the boost in benefits....
money.usnews.com
Why Blacks, Hispanics Contact Social Security More Often
Oct 03 2023
In our high-tech world, virtually any transaction or communication can be executed online. Yet, despite the range of services that Social Security offers on its website, two-thirds of older Americans ...
crr.bc.edu
Questions I have about Social Security and Medicare
Oct 01 2023
I (M66) reach FRA early 2024 at 66 1/2. I own my home and car, have some savings and investments, 401k, and a small pension. Simple 'back of the cocktail napkin' arithmetic leads me to believe I can a...
reddit.com
quick question about how to interpret the SS calculator
Oct 01 2023
Hi I was using the SS calculator and entered that i would like to collect 5 months past my last birthday. My birthday is at the end of a month. So would I collect at the beginning of the 5th month or ...
reddit.com
Social Security Checks Still Sent in Event of Government Shutdown
Oct 01 2023
With a partial federal government shutdown on tap if an agreement isn’t reached by midnight…...
401kspecialistmag.com
Social Security and the 2024 COLA: Everything You Need to Know
Sep 30 2023
About 20% or retirees polled by T. Rowe Price say they're working either full- or part-time....
money.com
Taking Social Security early or waiting until FRA ?
Sep 30 2023
Hi I originally posted part of this on r/socialsecurity and u/Mid_AM suggested I post it here, too. I’m interested to hear from people who’ve taken their SS early vs full retirement age. H...
reddit.com
Should you claim social security benefits early or later?
Sep 29 2023
Trying to decide when you should claim your social security benefits? There are pros and cons to claiming early – make an informed decision with my help....
forbes.com
Are You Getting the Maximum Social Benefit?
Sep 18 2023
September 19, 2023 – Quick – what is the 2023 maximum monthly benefit from Social Security? $2810/mo., $3035/month, $4193/mo., or $4,555/mo.? And, how much is the average benefit? If you g...
topretirements.com
How to Qualify for the Highest Social Security Benefit Possible | NewRetirement
Aug 31 2023
What's the highest Social Security benefit? Will you qualify? Get easy answers for a wealthier retirement....
newretirement.com
Rep. Larson and Sen. Cassidy Named Legislators of the Year for Their Work on Social Security
May 09 2023
May 9, 2023 — Topretirements.com just named a Republican Senator and a Democratic Congressman as 2023 National Legislators of the Year. Senator Bill Cassidy (R.LA) and Representative John Larson (D....
topretirements.com
Social Security Trustees’ Report: SS Fund Will Run Out of Money 1 Year Earlier
Apr 05 2023
April 5, 2023 — The Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs each year. This summarizes the findings of t...
topretirements.com
Which States Tax Social Security Income?
Mar 29 2023
March 30, 2023 — It might come as an unpleasant surprise to many people that Social Security income can be taxed on both the federal and the state level. While there is no escaping the federal t...
topretirements.com
What Is The Average Social Security Check? | Bankrate
Mar 23 2023
Social Security offers a monthly benefit check to many kinds of recipients. As of October 2022, the average check is $1,550.48, according to the Social Security Administration – but that amount can ...
bankrate.com
Filling the Gap
Mar 23 2023
For those retiring early: assuming you are waiting until 65 for a pension, and 70 for full SS benefits, how are you filling the gap until then? Are you tapping into savings? Skimming off interest? Wor...
reddit.com
Social Security Calculator - Early Retirement, but waiting until 67 to take benefit
Mar 23 2023
Does anyone know if there's a Social Security benefits calculator that takes into account if you retire early (say at 55), but wait until your full benefit age (67) to start taking social security? Al...
reddit.com
Turned 63 2/23, Social Security appointment for benefits not until Friday, do they backdate benefits
Mar 22 2023
Hi there: I turned 63 in February of this year and called Social Security. They took down a lot of information but told me a second call (from their local office) is needed to finalize everything. The...
community.aarp.org
You Can Come Out Of Retirement And Work Again
Mar 20 2023
Everyone is suddenly talking about raising the retirement age, but is the discussion already moot? And what impact might earning post-retirement income have on your Social Security benefits?...
forbes.com
I'm confused on when to claim spousal benefits
Mar 20 2023
I just turned 67 and claimed my SS benefit when I reached my FRA, last year. My wife, who turns 66 this next week, was mostly a stay at home mom but did teach for a few years. Upon her turning 62, she...
community.aarp.org
Outlook For Social Security Trust Fund Worsens
Mar 17 2023
The demise of the Social Security retirement trust fund is likely to occur sooner than expected last year....
forbes.com
Fixing Social Security: No Easy Choices, But It s Doable
Mar 16 2023
Become an informed voter with a new app that helps you understand the hard choices our political leaders need to make to close Social Security’s funding gap....
forbes.com
In Retirement, Social Security Will Likely Pay Out More Than You Think: Study
Mar 16 2023
Pre-retirees tend to underestimate future Social Security benefits by nearly $2,000....
money.com
Can Social Security Be Saved? Yes, With a Few Changes
Mar 15 2023
Nearly every retiree, and many younger adults, have heard the alarming news that the Social Security Trust Fund will run out of money in another ten years or so, although the exact date changes regula...
baby-boomer-retirement.com
Social Security Confusion Regarding 40 Credits and Years Worked
Mar 14 2023
Hello- I'm hoping someone here has an easy answer to this question. I have the required 40 credits to claim social security. For many of my working years I was making high 5, low 6 figures (range was ...
reddit.com
Taking SS at full retirement age and still working
Mar 14 2023
Does anyone know and can answer if one is taking SS at FRA and still working, is that person able to increase the SS benefit by replacing a lower wage year with a higher wage year after starting to co...
reddit.com
How is Social Security base rate computed?
Mar 13 2023
I know all about how the amount we receive is adjusted by whether we retire at, before or after FRA. But what I’m trying to learn is which 35 highest years of income go into the equation- does i...
reddit.com
Can someone explain the reasoning behind penalizing SS benefits if you earn too much
Mar 13 2023
submitted by /u/Civil-Action-9612[visit reddit] [comments]...
reddit.com
Dividend investing and Social Security vs Sequence of Return risk and owning bonds
Mar 12 2023
I am wondering about living on dividends and social security in retirement, and how this solves certain problems raised by sequence of return risk and owning bonds, both in the years before retirement...
reddit.com
Reality Check Please Retired last year at 71 and started collecting SS
Mar 11 2023
My understanding is I can earn up to $21,240 this year without any impact on my SS benefits. Is this true or did I miss something? submitted by /u/mrcanard[visit reddit] [comments]...
reddit.com
While French Workers Strike To Protect Their Pensions U S Elders Fear More Social Security Cuts
Mar 09 2023
Yesterday, French workers amped up their protest over President Macron’s proposal to cut pensions by raising the retirement age from 62 to 64....
forbes.com
Social Security at 62 v ACA subsidies a dilemma and request for advice
Mar 09 2023
I would appreciate some advice concerning the timing of my Social Security payments, and how that interacts with ACA subsidy payments. I am 60. I will turn 65 in August of 2027. I have an ACA plan. Du...
reddit.com
Talk me into waiting until 70 years old to take SS
Mar 08 2023
From age 62 to 79, I will get $393,720 from Social Security. If I wait until I am 70, it will take me 9.65 years to earn $393,720. That is a long time before I start losing money. It will be basically...
reddit.com
Why Do They Keep Talking About Raising The Retirement Age?
Mar 07 2023
Should you take the current debate seriously? Or should you just accept Social Security won’t be around when you need it?...
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.