Social Security News, Information and Guidance

How to Increase Your Social Security Benefits

Benefits of Waiting to Claim Your Social Security The New York Times, November 15th, 2013 For many who are over the age of 62, collecting your Social Security benefits is a rite-of-passage of sorts, the payoff of your years of letting the IRS take your hard earned money out of every paycheck.  For some, particularly…

Delay Social Security for more income

Deciding when to start drawing Social Security can be one of the toughest decisions that a new or near retiree can make. For most, delaying Social Security is the preferred option — in fact, it may your best investment decision. By Henry Hebeler Henry (Bud) Hebeler is one of the most experienced financial advisors within…

Very Small Cost of Living Adjustment to Social Security for 2013

This week, the Social Security Administration announced a 1.7 percent increase to Social Security payments, beginning in January, 2013.  This will be one of the smallest hikes since adjustments for inflation were adopted in 1975. You can see the Press Release from the Social Security Administration here. Social Security payments average $1,131 a month —…

The (Potential) Pitfalls of Social Security

In his list of the TenWorst ‘Gotchas’ oftheSocialSecuritysystem, Paul Solman informs us that there are 2,728 rules in the Social Security Handbook, buttressed in turn by tens of thousands of additional explanations in something called the Program Operating Manual System.  As one might expect from any system that complicated, there are a number of rules…

Online Social Security

Social Security now provides a service to all that will provide you with your Social Security statement online. It will provide you with the estimated Social Security and Medicare taxes you’ve paid, information about qualifying and signing up for Medicare, things to consider for those age 55 and older who are thinking of retiring, and…

Possible Social Security COLA Increase

Here’s some good news for once!  It was announced that after two full years of no COLA (Cost of Living Adjustment) raise, Social Security recipients may be due for one in 2012.  Though it’s not etched in stone just yet, it’s expected that the announcement for as much as a 3.5% raise may be announced…

Proposed Increase to the Retirement Age

Do you think Social Security will be around for your children or grandchildren?  Senator Tom Carper of Delaware was quoted as saying, “My sons are 21 and 22; neither of them thinks Social Security is around for them.  I want to make sure that it is.”  But how?  Obviously if we knew how to answer…

Hey! I’m Not Dead!

Imagine walking to your local bank to make a transaction and you find all of your accounts have been closed because you’ve been declared dead.  It sounds impossible, but it happens more than you think.  Each year, Social Security declares 14,000 wrongly dead. That averages out to 38 mistakes a day!  While it may seem…

Non-Working Spousal Retirement

When most people think of the tools used for planning their retirement, they think about 401k’s, pensions and other funds that are typically associated with employed wage earners.  But what happens if you or your spouse forgo a paycheck and stay at home?  What kind of retirement planning is available to you? One way to…

Is AARP in Favor of Social Security Cuts?

Last week, AARP announced that it is in favor of “modest reductions” in Social Security benefits, which confused many.  The powerhouse Senior Lobby group has always been one of the biggest opponents to any cuts to the program, which is why their new stance caught many by surprise. AARP still stands firmly by their position…