Results for "social security"

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Determining if a message from Social Security is a scam

September 19, 2018

A financial adviser contacted me recently to ask if the email he received from the Social Security Administration reminding him to review his estimated benefits statement online was valid. "Does Social Security send out these types of emails,...

Inaccurate info from Social Security Administration a challenge for widows

September 12, 2018

Losing one's spouse is one of life's most difficult and overwhelming experiences. Claiming Social Security survivor benefits apparently ranks as a close second based on a frantic phone call I received from a close friend this week. My friend...

Estimating the impact of early retirement on Social Security benefits

August 29, 2018

One of the most common questions I receive from financial advisers concerns the impact of early retirement on future Social Security benefits. They wonder if the estimated benefits statement that their clients receive accurately portrays future...

Some public employees face Social Security hurdles

August 27, 2018

There are about 2,700 different rules that govern Social Security benefits, but two of them stand out as the most confusing and unfair — at least according to the subset of workers and family members who are subject to them. About a quarter...

Nudging Congress toward Social Security reform

August 30, 2018

When leaders refuse to lead, it's time for the people to step in. That, essentially, is the mission of Funding Our Future, an alliance of organizations dedicated to making a secure retirement possible for all Americans. I was honored to serve...

Retroactive Social Security benefits: Everything you need to know

August 20, 2018

A financial adviser contacted me recently to ask whether a widowed client, who had been eligible to collect Social Security survivor benefits at the earliest at age 60, could file for retroactive benefits now that she was 63. Any type of Social...

Using Social Security to fund paid parental leave is not the way to go

August 29, 2018

Senator Marco Rubio has introduced a paid-leave bill that would allow parents to collect Social Security benefits following the arrival of a new child, even if those parents are not retired. The benefits would be used to finance time away from...

Social Security finances worsen as reliance on the program increases

August 9, 2018

You've heard of good news/bad news stories. This one is a bad news/worse news version. Two new reports from the University of Pennsylvania's Wharton School of Business document an increase in American retirees' reliance on Social Security income...

8 ways to boost Social Security benefits

August 16, 2018

President Franklin D. Roosevelt signed the Social Security Act into law 83 years ago, on Aug. 14, 1935, creating the first nationwide safety net for American retirees. During a recent summer road trip, I visited Roosevelt's bucolic Hyde Park...

7 surprising facts about the Social Security earnings test

July 31, 2018

Questions from InvestmentNews readers tend to run in cycles. This month, the Social Security earnings test seems to be a popular topic with financial advisers and their clients who want to claim benefits early but plan to keep working. That...

Claiming Social Security early has lasting impact on survivors

August 14, 2018

I received an urgent email from a financial adviser this week asking whether his terminally ill client should file immediately for Social Security so he wouldn't miss out on claiming his benefits before he died. While that may seem like a logical...

Working longer is best way to boost retirement income

July 25, 2018

Working a few years longer has a much bigger impact on improving retirement income security for older workers than boosting 401(k) contributions during the last decade of work, according to new research published by the National Bureau of Economic...

Wages can boost Social Security taxes, Medicare premiums

August 7, 2018

My recent column on how income from a job can temporarily reduce or even eliminate Social Security benefits claimed before full retirement age prompted some interesting questions from readers. Those questions allow me to clarify how earnings...

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...

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...

Social Security scam alert

July 17, 2018

Here's the latest identity theft scam to warn your clients about: suspicious phone calls that claim to be from the Social Security Administration. Don't fall for it, warned Gale Stallworth Stone, acting inspector general of the SSA. In one case,...

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...

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...

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....

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...

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