We've all probably read that most people file and start taking Social Security at age 62. We’ve also read that it’s a good idea to claim at 62. And for every message that it’s a good idea, there’s another saying it’s a bad idea. I identify four or five ideas here to help you define …
Continue reading What does it cost to file early for Social Security benefits?
My Comments: 45 million people is a lot of potential voters. That’s the number of American receiving retirement benefits every month. As 2035 gets closer and it becomes obvious changes have to be made by Congress to maintain Social Security, how many of those potential voters are going to elect someone willing to let Social …
Continue reading High Income Inequality Hurts Social Security’s Finances
Can you believe it??? Capitalism and socialism working together? Whoever caused that to happen should be voted out of office… What were those bas**rds thinking? Actually, there are more than 60 million Americans today who rely on monthly checks from the Social Security Administration. And believe it or not, there is a damn good website. …
Continue reading Why You Should Create a My Social Security Account
My Comments: Social Security has become a critical financial component in the lives of millions of retired people. If you’re not there yet, you must learn the basics or live with the regret. I think of age 50 as a critical turning point for any adult who thinks they might retire some day. From this …
Continue reading 7 of 10 Adults Over Age 50 Get This Wrong About Social Security
By Tony Kendzior, CLU, ChFC These facts about Social Security are intended as general information for those planning to file for Social Security benefits. The idea is to help you get what you are entitled to and not leave dollars behind that can’t be recovered. You should seek guidance from the Social Security Administration (SSA) …
My Comments: *Actually, it's not the most important, but... The message that accompanies this chart is very important. Read further before you start looking for the chart. No one has ever said this was going to be simple and it’s not. But it’s critical you make an effort to understand all this since Social Security …
Continue reading The Most Important Social Security Chart* You’ll Ever See
My Comments: By now you know that I spend time promoting my online school created to help people retire. Of the four modules of the primary course, one of them is devoted to Social Security. For most of us, retirement is a transition from working for money to not working for money. As that happens, …
Continue reading 3 Big Reasons to Check Your Social Security Statement
My Comments: Maybe. But without some changes, what they get may be very different from what folks are getting today. I’ve written several times about how to fix the system without pushing the economy into chaos. Just know that the longer the wait until changes are made, the more disruptive it will be for everyone. …
Continue reading Will Social Security Be Around for Your Grandchildren?
Just 10? Nah, there’s lots more but let's start with these. If you’ve been paying FICA taxes ( see #3 below ), and have done so for at least 40 quarters, then you can expect to qualify for retirement benefits at some point. None of these 10 tell you when to claim benefits, or what …
Continue reading Confused? 10 Social Security Terms You Need to Understand
My Comments: The latest budget proposal from the current White House suggests there will be a new effort to partially defund Social Security, Medicaid and Medicare. What exactly do they expect to achieve politically from this effort? Those of us already receiving Social Security benefits plus the many millions more who are aging and becoming …
Continue reading 3 Social Security Rules We Can All Agree We Hate
Helping Define Your Financial Future 