Social Security
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Social Security in Multigenerational Families
Mar 07 2023
It’s not unusual for Black and Latino children to live with their grandparents, who are either the primary caregivers or members of a multigenerational family. And just as the grandparent is int...
squaredawayblog.bc.edu
Why Millionaires Don't Have to Pay Any More Social Security Taxes This Year
Mar 06 2023
You, on the other hand, probably have to pay Social Security taxes all year long....
money.com
Social Security and Medicare Premium
Mar 06 2023
We are already on Medicare A & B. As we have not started SS yet, I pay the premiums directly on a quarterly basis. My understanding is once SS starts, the premiums will be taken from our monthly c...
reddit.com
Completing the SSA-1724
Mar 02 2023
I need help completing the form for claiming amounts due in the case of a deceased beneficiary. Question #1...name of surviving widow - that's me...I entered my SS#, I answered "yes" to living in the ...
community.aarp.org
2023 Social Security COLA Is Huge: Traditional Retirees Rejoice!
Mar 01 2023
I don’t know if you’ve heard, but the 2023 Social Security COLA (Cost Of Living Adjustment) is a whopping 8.7%! This increase is both huge and head-scratching. The 2023 Social Security COL...
financialsamurai.com
Is my SS "worth" $1 million
Feb 25 2023
Is my Social Security "worth" $1m? I'm a high earner and I think the max benefit I'll get at 65 is something like $3,500/month. So yearly that's $42,000. Using the 4% rule that equates to about $1 mil...
reddit.com
Link to study from Fed about timing of taking SS
Feb 24 2023
submitted by /u/keeperoflogopolis[visit reddit] [comments]...
nber.org
Social Security amount question
Feb 24 2023
I understand that the sooner you start collecting, the lower the amount you receive will be. But what about if you retire before you start collecting? Will the estimated amounts be lower than what SSA...
reddit.com
WSJ article on taking SS early.
Feb 23 2023
High Price Retirees pay for taking SS early. (Sorry, I don't know how to link without a firewall. I will figure it out and post here later.) submitted by /u/Chinacat_Sunflower72[visit reddit] [comment...
reddit.com
When delaying social security payout, is the amount received increased for each month of delay, or only at full year anniversaries?
Feb 21 2023
My FRA is 66 and 4 months, which I hit last month. But I'm still working and plan to delay my social security until July (when I'll be 66 and 10 months) -- believing (from some places I've read) that ...
reddit.com
If you apply for social security 3 months before you are eligible (as I've been advised to do) and you decide not to collect it, how hard is it to back out?
Feb 20 2023
submitted by /u/doofusgaloofus[visit reddit] [comments]...
reddit.com
Retire next year?
Feb 19 2023
I am 53m with wife, 53f, one kid, 15. Retired from military in 2020 with 70k pension that I am currently receiving. Wife gets 30k if I die first. I expect 35k/yr social security at 67. Wife will colle...
reddit.com
Will Social Security get fixed before 2034? And if so, how?
Feb 19 2023
The Congressional Budget Office (CBO) predicts that by 2034, Social Security will not have enough money to fully fund its obligations. In other words, as of that year, they cannot continue to pay out ...
reddit.com
This Social Security Table Means Everything for Your Retirement | The Motley Fool
Feb 18 2023
Understanding this table is crucial to your financial well-being....
fool.com
Social Security Benefits Increased in 2023
Feb 17 2023
Great news, here is the Cost-of-Living Adjustment (COLA) Information for 2023 "The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security...
thinksaveretire.com
Worried About Social Security’s Future? Make A Plan For When To Start Your Benefits
Feb 15 2023
Your optimism or pessimism about our politicians’ courage to shore up Social Security benefits could influence your claiming strategy, depending on your situation....
forbes.com
Family Maximum Benefit (Disability)
Feb 14 2023
Photo credit: jb In a previous article we talked about the Social Security Family Maximum Benefit for a retired worker – and we mentioned that there was a separate calculation for the Social Sec...
financialducksinarow.com
Should Social Security’s Funding Challenges Cause You To Claim Benefits Early?
Feb 14 2023
Your optimism or pessimism about our politicians’ courage to shore up Social Security benefits could influence your claiming strategy, depending on your situation....
forbes.com
Social Security Payments Just Increased, and Scammers Are Already Targeting Retirees
Feb 13 2023
Wealthy folks are set to benefit most....
money.com
Why not think of Social Security as the equivalent of bonds/annuities
Feb 12 2023
So, I'll most likely have somewhere between $1.2 and $1.4 million when me and the wife retire in about a dozen years. We've got two-thirds of a million right now; we'll each continue to max out our Ro...
reddit.com
eligible for any social security..?
Feb 12 2023
I have worked in the US for approx 10 years and now live in Canada. Do I qualify for US social security benefits? Do these years working in the US count towards Canada OAS or CPP? submitted by /u/reti...
reddit.com
about SS and dying before drawing
Feb 12 2023
My wife (of 35+ yrs) has earned much less than I have over the years. The calculators all say my wife should start drawing SS at 62 and I should start drawing at 67. If I die before I start drawing, w...
reddit.com
Where Disability Benefits Are Worth the Most: How Your State Stacks Up
Feb 07 2023
Recipients of Social Security disability benefits rely on the monthly check as a vital source of income, but in no state does it match up to the livable wage....
kiplinger.com
Social Security Email from AARP
Feb 07 2023
Yesterday I received an email from AARP titled "Tell Joe Biden to Protect Social Security." This is an inaccurate and misleading title. If anything, President Biden has vowed to protect social securit...
community.aarp.org
How Will Social Security and Medicare Survive in the New Congress?
Feb 07 2023
February 7, 2023 — The debt ceiling is one of the big issues in the new Congress. How it plays out should be interesting, with Republicans narrowly controlling the House and the Democrats with a...
topretirements.com
Evaluating Annuities, Pensions, and Social Security – SWR Series Part 56
Feb 06 2023
February 6, 2023 Welcome to another installment of my Safe Withdrawal Rate Series. See the landing page of this series here for an intro and a summary of all posts I’ve written so far. On the me...
earlyretirementnow.com
The Impact of Social Security on Divorced Retirement Income
Feb 06 2023
Social Security spousal benefits can quickly get complicated when remarriages and other circumstances are taken into account. Let’s explore some examples....
kiplinger.com
The Move To Cut Social Security Would Impoverish Millions Of Americans
Feb 06 2023
For millions of Americans, Social Security benefits are what’s keeping them from living below the poverty line....
forbes.com
How Will Social Security and Medicare Survive in the New Congress?
Feb 06 2023
February 7, 2023 — The debt ceiling is one of the big issues in the new Congress. How it plays out should be interesting, with Republicans narrowly controlling the House and the Democrats with a...
topretirements.com
Is Social Security Going To Go Bankrupt?
Feb 05 2023
The Social Security program, as designed, has become antiquated and is being asked to do something it was simply not designed to do....
forbes.com
Retiring and social security?
Feb 04 2023
Retirees of reddit I'm trying to help my mother find some info. My mother is planning on retiring this year at 68 from her job. So if she starts collecting her social security now it's a certain amoun...
reddit.com
This Is How To Save Social Security And Medicare
Feb 02 2023
Are cutbacks necessary to save Social Security and Medicare from bankruptcy?...
forbes.com
How are people so oblivious about retirement?
Feb 02 2023
Hey all, maybe an odd question, but I continually see people in their 60-70's post here who seemingly have no idea about retirement, social security, etc. I saw one in fact where a guy who is a bit ov...
reddit.com
America Needs To Improve How It Treats Its Older Workers
Jan 28 2023
Because near retirees have no significant source of retirement income besides Social Security many will have to take any job they can find....
forbes.com
Is Delaying Social Security Benefits Still A Good Deal?
Jan 26 2023
Don’t be mistaken into thinking that rising interest rates can justify claiming Social Security benefits early....
forbes.com
Taxable Social Security Computation Stuck With 2018 Standard Deduction - What can be done?
Jan 24 2023
Every year we use the 1040A "Social Security Benefits Worksheet--Lines 6a and 6b" to compute how much of our Social Security benefit is taxable. In step 10 a "standard deduction" is subtracted - $12,0...
community.aarp.org
Opinion: I took Social Security at 62 and now regret it. Is there a way to increase my Social Security benefit?
Jan 23 2023
You aren't necessarily stuck with a bad claiming strategy...
marketwatch.com
To retire or to not retire; that is the question
Jan 22 2023
Sorry for the long post; I hope many can read it and comment. I'm pretty close to retiring. I'm past the Social Security age and I've been drawing and saving Social Security for a year or two while st...
reddit.com
6 Things You Should Know About Taxes on Social Security
Jan 18 2023
Contrary to popular myth, Social Security is taxable. How much you pay in taxes depends on your income and the state you live in. Age is not a factor....
aarp.org
Ways You Can Lose Your Social Security Benefits
Jan 17 2023
Social Security serves mostly older retirees, but also the disabled through Social Security Disability Insurance (SSDI)....
gobankingrates.com
Effect of continued work on Social Security
Jan 17 2023
I am almost 60.5 years old, so not that far from first being able to get a (reduced) Social Security old-age (that is what is is called) benefit. I was curious what effect it would have on my benefit ...
reddit.com
How Are Social Security Benefits Taxed?
Jan 16 2023
This blog has traditionally focused on early retirement. As such, we haven’t given Social Security the attention it probably deserves. Social Security benefits are crucial for most retirees. Eve...
caniretireyet.com
When You Start Taking Social Security Matters - Eggstack
Jan 15 2023
Social Security is ready for you to start drawing retirement benefits anytime between the ages 62 and 70. But did you know that the age you start Social has a lasting effect on the size of your checks...
eggstack.com
How much is deducted from social security check?
Jan 15 2023
I just calculated my social security when I take it in about a year. Mine plus the 50% of my wife’s takes us to $5000. I like that round number! But for those that get SS, how much is deducted f...
reddit.com
Consequences of Claiming Social Security at 62 - Top Videos and News Stories for the 50+
Jan 10 2023
Jim Palmieri, AARP Public Policy Institute’s Social Security expert, explains why waiting to claim your benefits is an important decision....
videos.aarp.org
The Social Security Windfall Elimination Provision (WEP)
Jan 09 2023
What is it and is it fair? There is much discussion as to whether the Social Security Windfall Elimination Provision (WEP) is fair....
forbes.com
4 Social Security Myths That Are Costing You Money
Jan 06 2023
One of the worst times to make a financial mistake is during your senior years, when you are living on a fixed income with little margin for error....
aol.com
Readers’ Favorite Retirement Blogs: 2022
Jan 03 2023
Older Americans who want to be smart about retirement finances are curious about the intricacies of Social Security. The blog that drew the most traffic from our readers last year – “The B...
squaredawayblog.bc.edu
Will Social Security Run Out of Money? - Eggstack
Jan 01 2023
We hear people say all the time they are not counting on Social Security to be here when they retire. Will Social Security run out of money? Inquiring minds want to know! In this episode of Eggstack C...
eggstack.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.