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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Check out the latest podcast episode on retirement planning and Social Security by listening on “Apple Podcasts” or “Spotify Podcasts” and watch more retirement planning videos...
Jimmy in Wisconsin will have a pension, Social Security, and a seven year retirement shortfall. How should he cover it? Skipper in Texas has some unusual pension options, which makes the most sense fo...
When to file for social security? Applying at age 70 maximizes your monthly payout, but claiming early could provide advantages that can’t be quantified on a spreadsheet....
I had to retire early (62) due to a work injury. Due to that my pension and Social Security are small. I do qualify for Medi-Cal dental, however all of the offices I have visited are not up to the car...
Check out the latest podcast episode on retirement planning and Social Security by listening on “Apple Podcasts” or “Spotify Podcasts” and watch more retirement planning videos...
When you’re married to someone who has worked under the Social Security taxation system, you have two different benefits that may be available to you: Survivor Benefits, and Spousal Benefits. Th...
We have seen some well above average Social Security COLAs the past few years. You might be wondering, how big will the Social Security COLA for 2025 be?...
Filing for Social Security sounds simple on the surface. You take a specific percentage of every paycheck and it goes into the system when you’re working. And then when you retire, you simply fi...
Consider the myriad reasons Black Americans get 19 percent less from Social Security during their retirement years than White retirees. Inequities in the labor market limit their job opportunities and...
Discover the impacts and debates surrounding raising the retirement age. Understand how increasing Social Security's retirement age can affect your retirement plan....
These Retirement Brothers are solving the retirement crisis. Coming up on Fox Business is a special episode on how to get the most out of your Social Security benefits. By:Spotlight Television NEW YOR...
HMMM, I WONDER "IF" THEIR INTENTION IS TO SCAM SENIORS? ? Are Social Security Beneficiaries Getting a Fourth Stimulus Check? NO, but websites and social media are spreading MISINFORMATION. By Andy Mar...
I am 68 years old and have delayed taking Social Security. Spouse is 64. She doesn't qualify for benefits, so she would be receiving a portion of mine when I pass. Would there be any difference in her...
The insurance enhances Social Security’s role of offsetting Black/White inequality. My colleagues have just completed a really interesting study pertaining to the progressivity of Social Securit...
I am a US citizen who lives on a fixed income in Jalisco,Mexico. I receive SSDI and live from month to month. Every year there is a form 7162 that needs to be filled and returned to social security, i...
My wife and I started Medicare Plan B on January 1, 2024. we received a bill for four months of premiums, which we paid in full. My wife decided just after January 1, to start Social Security. We rece...
So I have a realistic budget built and was analyzing my required yearly withdrawals from my retirement along with social security etc. I made an assumption of 4%inflation each year. Looking ten years ...
I applied for social security on 1/1/24. My application is still in the review process even though the ss website says 2-4 weeks. I can’t call or email anyone in ss. I want to give notice at wor...
I will be retiring December of this year. Husband retired a few years ago. We are not yet collecting SS since I'm working full time and there's no need to yet. We have a home that we will be selling a...
Greetings. I am retired but not yet collecting social security, which I plan to do when I turn 67 in about 4 years. I use some retirement planning models which have you look up you projected benefit a...
The bottom line has been clear for many years: Barring congressional action, Social Security will be unable to pay retirees their full promised benefits within a decade....
My SO and I both recently retired at 62 however most of our 401Ks are in target date funds for when we turn 67. Currently we are able to live off SS and pensions and don't need to touch the 401Ks. Giv...
I applied for Medicare part B during the last week of December to presumably begin in January. The SS website says my Medicare premium should be $174.60 but the check I just got has a medicare deducti...
I would like your opinion. I don’t plan on collecting SS until my full retirement age which is a few years from now. After that, God willing, I plan on working until I’m 70. My wife is at ...
As CDs mature and rates drop, where would you move this money? My current portfolio is 50% Equities, 40% CD and 10% Bonds. I'm drawing SS and plan to retire this year. I'm 68 years old, sold my house ...
55 Y.O looking to retire at 60 $600,000.00 in 401k $300,000.00 in other savings and investments $27600.00 per year in ss at 63 ($2300.00 month) No mortgage, car payments or credit card debt I've heard...
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...
My spouse is 8 years younger and will not be on SS for several more years. I am 65 and want to retire, but I have read that his income will deduct what I should be able to draw. How much will I be pen...
I was planning on leaving in April when my social security would take a $400 a month uptick. But as I was leaving for Christmas vacation I was called in “to catch up”. That’s when I ...
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...
Retired parents who have a child with a disability say the income they and their children receive from Social Security is critical to their survival. Yet, for some, it still falls short of what they n...
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 ...
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 ...
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...
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 ...
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...
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 ...
Social Security beneficiaries are getting a raise, and the COLA (cost of living adjustment) for 2024 is 3.2%....
The current strong economy is an opportunity to address the Social Security shortfall, update contribution rates, and expand retirement savings options....
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...
I put my numbers into Calculator.ficalc.app with an annual withdrawal of $50K adjusted for inflation. I then added $30K SS income to start 10 years after retirement. Does the analysis assume that I wi...
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...
I plan on retiring from my career soon, and will work part-time in order to keep busy and avoid tapping into the 401K or SS yet since we don't have many bills to pay. We aren't rich, but certainly not...
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,...
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...
Hi All :). Ohio - 64/f (single, live alone); SS draw of $1,100mo, on Medicaid. Considering selling house with profit of 225-250k. Should I buy another house outright with full amount to not have house...
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...
Thebrief’skey findings are: Households ages 62-75 have substantial earnings. The National Retirement Risk Index, which assumes all households claim Social Security – and retire – at ...
Social Security alone is simply not enough, new Vanguard study confirms. People often assume that the retirement needs of low-wage workers are covered by Social Security’s progressive benefit fo...
When I started this blog at age 51 about twelve years ago, topics such as Social Security and Medicare were distant on the horizon. My focus back then was on living frugally and managing our investmen...