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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The Social Security Administration's recent announcement of a 2.5% Cost of Living Adjustment (COLA) increase for 2025 may come as welcome news for retirees....
Is there a good US Federal Income Tax/Medicare/SS planning or estimation software that has some visualization of taxes owed and distribution? Something like this: Understanding Tax Brackets: Interacti...
My husband carries the insurance and will retire at 64. I’m retired early due to an injury and I’m collecting SS I’m 64 in April. My question..if he retires at 65 in January, I will ...
Looking at the current inability of Congress and the disposition of the incoming administration to actually address the SS trust fund depletion in the next 8 to 10 years, does it not make more sense t...
I am 76 and my spouse is 79. She applied for Social Security benefits at her full retirement age. I was subject to GPO so I couldn't apply for spousal benefits. Please help me with the following quest...
I am a Canadian/US dual citizen who has spent most of their adult working life in the US - I will have SS, a 401k, an IRA, etc. For a variety of reasons, retiring to Canada is attractive. The primary ...
Congress made a move recently to eliminate the WEP and GPO provisions from Social Security benefit calculations. The post Say Goodbye to GPO and WEP appeared first on Getting Your Financial Ducks In A...
The Social Security Administration encourages applicants for its research grants to explore “the structural barriers that may contribute to disparate outcomes among people who have been historic...
Most experts agree without intervention from Congress and the president, the Social Security system will be unable to meet its full obligations within the next eight y......
My spouse needs to start ss payments BEFORE full retirement age. Do we specify to start the month of the birthday, when the payment amount changes, or the month AFTER the birthday?...
Were any of you a stay a home (SAH) parent or was your spouse? If so, what defined 'retirement'? Age, kids launching, collecting SS, spouse retiring, ...? I have only one friend who was FULLY a SAHM (...
From IRA contributions to Social Security COLAs and the standard deduction, several changes are headed our way. Get ready to make the most of them....
It seems the incoming administration is thinking about making major changes to Medicare and Social Security. I wonder what people are thinking about this, specifically, significant reductions in cover...
Alicia Munnell started the Boston College Center for Retirement Research in 1998. As she prepares to leave, she says fixing Social Security should be a priority now....
Will there be any coverage of the changes to Social Security eligibility/payments because of the changes to WEP/GPO?...
My wife and I (61 & 58) have several retirement accounts: Trad 401(k), Trad IRAs, Roth IRA, I-Bonds, and taxable brokerage. We will both have pretty good SS income as well. Planning to retire in 2...
My wife just reached FRA and has applied for Social Security. I reach FRA next November. We still have a mortgage on a 3,100sf, two-story house, which is way more than we need now. We know we need to ...
Timing is everything when it comes to starting Social Security. Here are the top reasons why people choose to delay or take it early, according to one expert....
In ways big — e.g., Donald Trump's reelection — and small — e.g., a slight reprieve for Social Security's trust fund — 2024 was a turning point for American retirement. Here's ...
Don't unnecessarily delay or reduce your Social Security benefits because you don't know all the rules and requirements....
There is support for a House vote in Congress to eliminate this provision. This article is written to provide you with the reasoning for WEP....
Meet Sarah—a retiree with a multi-million-dollar portfolio, no mortgage, and all her income needs covered by Social Security. Yet, she hesitates to furnish her newly expanded home, fearing it wo...
Jennifer, 54, plans to retire soon. Her husband, 70, is retired, on Social Security, and dealing with some severe health issues. Jennifer worries about possibly becoming single in retirement, which co...
FROM THE ARTICLE - SEE ARTICLE FOR MORE!!! Two Reports Address How to Improve Social Security’s Minimum Benefit. By Jim Palmieri, AARP Public Policy Institute. Chantel Boyens and Jack Smalligan,...
Social Security ex-spousal benefits are the same as current spousal benefits but the criteria to qualify is different. Learn more about it in this article....
This post is a follow-up to our post of October 14, 2024 entitled, “Social Security Financing---When You’re in a Hole, Stop Digging.” In this post, we will look at the retirement pla...
Younger workers have a lot to gain by understanding how Social Security works....
Deal with SS&C's Black Diamond Wealth Platform integrates customized 401(k) solution for…...
He proposed exempting Social Security benefits from income tax—effectively raising benefits for those higher-income retirees now subject to the levy....
From applying for Social Security and donating to charity to maximizing your savings accounts, ere are retirement moves to make before 2025....
So I'm 65 and a year from hitting my full retirement age this month. I am still working full time. As I understand it, one can start drawing their social security without a reduction or penalty the ye...
Can Bauer in Illinois retire at age 57, and when should he collect Social Security? More importantly, can he afford a $300,000 motor home? Can Brad in Michigan coast for the next 10 years and still re...
The next president and Congress will need to tackle the financial challenges facing Social Security if we’re going to avert a sharp cut in benefits to the 68 million retired or disabled American...
FROM THE ARTICLE - SEE ARTICLE FOR MORE!!! Need to Know About Social Security Survivor Benefits for Children. Monthly payments can help offset financial impact of losing a loved one. By Patricia Amend...
From taxes to Social Security and beyond, the election could change your retirement depending on which candidate wins. Who takes the House and Senate also matters....
Could less mean more, when it comes to taxes and the Social Security COLA for 2025?...
My mom is 87 and she lost her husband 2 years ago. She is not tech saavy and received no letter from SS so she did nothing about claiming spousal benefits. When I assisted her to put in the claim, SS ...
From Roths to HSAs to creative Social Security timing, retirees have many options to minimize their taxes. You might be surprised what a difference it can make....
I know many people hate annuities (and I have mixed feelings too), but where else can I get guaranteed lifetime income with low risk for $250K to invest? I am married 65F not yet taking SS (FRA is Jan...
Hi. My mother's husband started collecting her social security after she died 6 years ago. Recently a previous husband she is divorced from 50 years ago is now trying to file for 1/2 her social securi...
The current index is a good compromise. It’s “Social Security COLA-speculation” season, and with it comes the annual controversy about whether the government is using the right index...
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...
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...
Knowing what to expect when it comes to your taxes, investments, real estate, Social Security benefits and other money-related issues is critical....
I am coming up on a year of retirement at 62. We did all the planning ahead of time to make sure we had enough SS income and retirement savings. All good. Dental - If I could go back to my last year b...
And only 22% have talked about their Social Security concerns with an advisor, reports Allianz Life...
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....
My husband will be 70 in September and will retire in October. He will go to the social security office to get more information but he did not sign up for part A when he was 65. He was covered by his ...
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 ...
...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 ...