What’s the Deal with Social Security for Women? is a new book by Marcia Mantell. The following is quoted from: https://www.barnesandnoble.com/w/whats-the-deal-with-social-security-for-women-marcia-mantell/1133342938 “As a woman nearing retirement, you may be delightfully surprised to get your own Social Security check. But you probably have questions. Questions such as: How much money will I actually get from…
Category: Social Security
Claiming Social Security Widow(er)’s Benefits
“Claiming Social Security Widow(er) Benefits: It’s Complicated” by Joe Elsasser |October 07, 2020 describes why widow(er)s should consult an expert (in addition to a Social Security representative) to ensure they get the full benefits they deserve. Saying “it’s complicated” is an understatement! “the widow(er) benefit is calculated based on both when the deceased claimed Social…
Collecting Social Security based on a divorced spouse’s earning record.
“A person born before Jan. 2, 1954, and who has reached her/his full retirement age, can file for just the divorced spouse’s benefit and delay claiming her/his retirement benefit until a later date.”Must be at least 62 and the ex-spouse must be entitled to Social Security. The ex-spouse doesn’t have to be collecting a benefit.…
Trying to decide when to claim Social Security retirement benefits?
The coronavirus has upended lots of financial lives and may result in job loss that will affect retirement plans. It is absolutely critical that you make a wise, informed decision about when to start collecting Social Security retirement benefits. Don’t just jump to claim as early as possible, typically age 62. An excellent tool to…
Understanding Medicare and Social Security
A great resource for understanding the basics of Social Security and Medicare Writing for USNWR, Rachel Hartman explains: How Social Security and Medicare Work Together “Social Security and Medicare are social safety programs that Americans pay into during their working years through taxes. Both are designed to assist older Americans and distribute benefits to the…
Social Security changes for 2020
Benefits are increasing 2.8% (but Medicare premiums are going up, too). Maximum monthly benefit at full retirement age will increase by $150 a month to $3,011. The full retirement age will increase by two months to 66 years and eight months for persons born in 1958. Anyone born in 1960 and later has a full…
Retirees Regret Claiming Social Security Early
Many Retirees Wish They Had Delayed Taking Social Security Benefits “MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a…
Tax cuts = Massive federal deficit
“The federal government spent $310 billion more than it took in during the first four months of the new fiscal year, a 77 percent jump from the same period a year ago” and the tax cuts are primarily to blame according to the Washington Post. How many times have you heard politicians say that budgets…
Social Security 2100- a bill to ensure the viability of Social Security for the next 75 years
Social Security 2100 Act Congress needs to act to ensure the future of Social Security. The 2018 Social Security Trustees report projects that beneficiaries will see a 21 percent cut in benefits by 2034 unless Congress takes action to prevent the funding shortfall. The Congressional Budget Office’s estimate is more dire, setting the year at…
Mistakes to avoid when claiming Social Security Retirement Benefits
This is one of the best articles I’ve read about factors to consider when claiming SS retirement benefits. It is critical to focus on SS as longevity insurance and recognize that each individual and each couple is different. There is NO one size fits all answer to when to claim SS. Although targeted at CPAs,…