Results for "social security"

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Social Security benefits lost 34% of their buying power since 2000

June 21, 2018

Social Security benefits have lost more than one-third of their buying power since 2000, according to a new study released Thursday by The Senior Citizens League, a nonpartisan advocacy group. "This is the biggest loss of buying power recorded...

2034 is a pivotal year for Social Security

June 5, 2018

The combined reserves of the Social Security trust funds are expected to be depleted in 2034, the same time frame projected last year, according to the latest annual report from the Social Security and Medicare Board of Trustees released Tuesday....

2019 Social Security cost-of-living adjustment could top 3 percent

June 4, 2018

The annual Social Security cost-of-living adjustment for 2019 could top 3% in 2019, which would be the largest increase in seven years, according to a new estimate released by The Senior Citizens League, a nonpartisan advocacy group representing...

A global call to modernize retirement systems

May 29, 2018

Worrying about the future of retirement is not a uniquely American concern. It is a global phenomenon. Almost half of today's workers and retirees worldwide believe that future generations of retirees will be worse off than those currently in...

Almost half of near-retirees fail basic Social Security quiz

May 15, 2018

Near-retirees still have a lot to learn about Social Security retirement benefits and may be leaving money on the table, according to a new consumer poll released Tuesday by Massachusetts Mutual Life Insurance Co. Nearly half (47%) of Americans...

Social Security's most confusing rules

May 9, 2018

I've just returned from the annual InvestmentNews Retirement Income Summit in Chicago. It is one of my favorite conferences of the year, not just because of the excellent content, but because it provides me an opportunity to meet with readers...

Countdown to retirement

May 3, 2018

I celebrated a major milestone with a group of friends recently. We met as newly minted teenagers in 1968 when we were freshmen in high school. Today, with most of us on the cusp of retirement, we took a trip to Charleston to commemorate 50...

Recent rule changes to boost retiree health costs

April 30, 2018

Individually, recent updates to Medicare and Social Security rules may not have seemed like a big deal. But when taken together, seven changes to Medicare means testing, Social Security cost-of-living adjustments (COLAs) and Social Security...

Future retirees expect Social Security to be main source of income

April 25, 2018

More than half of current or soon-to-be retirees cite Social Security as their primary source of income, well ahead of the 18% of those who identified a pension as their main income source, according to a new survey. But that heavy reliance...

Employees say workplace retirement plan will be a major retirement income source

April 24, 2018

An increasing percentage of workers say their workplace retirement savings plan will be a major source of retirement income, according to an annual survey by the Employee Benefit Research Institute issued Tuesday. In 2018, 53% of workers said...

Social Security benefits for grandchildren

April 5, 2018

Perhaps it is a sign of the times, but I have noticed an uptick in questions from InvestmentNews readers about the possibility of grandchildren being able to collect Social Security benefits on their grandparent's earnings record. In some cases,...

Deciphering Social Security survivor benefit rules

March 23, 2018

A financial adviser from South Carolina reached out to me recently for help sifting through the numerous Social Security regulations affecting potential benefits for his recently widowed client. "This is probably the most complex situation I...

Social Security benefits losing buying power

March 20, 2018

Automatic cost-of-living adjustments are supposed to help Social Security benefits keep pace with inflation, but years of low inflation and rising Medicare costs are threatening the adequacy of a key component of seniors' income. Over the past...

Graying of America will put pressure on Social Security reform

March 16, 2018

Investment News readers and audiences who attend my Social Security seminars around the country frequently ask me when I think Congress will tackle Social Security reform. I joke that my crystal ball looks more like a blurry snow globe when...

Public employee retirement systems could face shortfalls as retirees outnumber workers

March 14, 2018

For those worried about the ability of U.S. state and local governments to cover promised pension checks, the Census Bureau announced a milestone that should add to their fears: by 2030, for the first time, senior citizens will outnumber children....

Social Security budget cuts lead to declining customer service

March 12, 2018

A month before my husband Mike turned 66, he received a letter from the Social Security Administration reminding him that he could start receiving unreduced retirement benefits at his full retirement age, even if he continued to work, or he...

Social Security and divorce: Mary Beth Franklin answers your questions

March 7, 2018

During a recent webinar on how to maximize Social Security benefits, I received a question from an attendee that perfectly summarizes the type of challenge that many financial advisers face when trying to help divorced clients create a secure...

Chipping away at entitlement reform

March 5, 2018

The 2034 deadline when the Social Security trust funds are scheduled to run dry gets closer every day. At that point, there would be enough revenue from earmarked payroll taxes to pay about 75% of promised benefits — assuming Congress does...

Social Security: Advisers must stay current on regulations

March 3, 2018

Imagine finding​ out that your widowed mother's monthly Social Security benefit check was less than she was entitled to. You'd likely be furious and more than a little ashamed for not having watched out for her best interests more closely....

Future retirees more vulnerable to income shocks

February 21, 2018

The two major shocks that hit the elderly today are a spike in medical expenses and a sharp drop in income upon becoming a widow. While some of today's retirees are financially fragile, most appear able to absorb shocks without incurring hardship,...

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