Economic times have been tough for everybody-especially the baby boomer. In a recent survey, almost have of Americans say they will begin collecting Social Security at age 62. Most boomers share the notion of “It’s my money, why not take it now”. Where as others feel by waiting till normal retirement age to collect the …
In the darkest days of the Cold War two of the most fearsome weapons created in mankind’s imagination were invented. These weapons had contradictory aims. One was the neutron bomb, a nuclear bomb that was designed to emit high energy neutrons rather than simple explosive energy, with the result that there would be huge numbers …
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Some people are genuinely surprised when they learn that their social security income can be taxed. In certain instances, they may not have factored tax payments into their retirement planning. In other instances, people may continue working even though they’re eligible for social security benefits. Tax Rates and Social Security There are a few factors …
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Social Security retirement benefits are available to American workers who have paid into the system throughout their working years. Originally established after the Great Depression, Social Security is a supplemental retirement program designed to ensure retired citizens have some level of income from which to live after they stop working. Social Security benefits make it …
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Good news for boomers who are also Veterans. You may qualify for an additional increase in your Social Security Benefits. Here’s a rundown of the qualifications: Since 1957, if you had military service earnings for active duty (including active duty for training), you paid Social Security taxes on those earnings. Since 1988, inactive duty service …
Baby Boomers hoping to get a raise this year on Social Security are out of luck. SSI will remain flat for the first year since 1975. Social Security benefits are keyed to inflation. So what happens when year-over-year inflation becomes negative? No cost-of-living adjustment (COLA) occurs to increase your Social Security income. On October 15, …
Having your social security card lost or stolen can be a frightening experience. After all, every piece of our human existence is tied to that nine digit number. Most of the time, if you have your social security number memorized or written down, the card is not needed. There is no law requiring one to …
Will it happen? Lawmakers have been busy and a lot of the buzz has been on payroll taxes and Social Security. As a boomer, do you have a reason to be concerned. The simple answer: maybe. A claim too good to be true? If the recent agreement on taxes forged between President Obama and Congressional Republicans …
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10 Facts About Social Security Social Security can be a confusing dilemma for most people. Knowing when to take social security is one of the most deliberated decisions that boomers stress over. Here are 10 essential facts of Social Security that may help in your decision. 10 Facts on Social Security 1. Eligibility for Social Security benefits …
The age of 62 is quickly approaching. The important decision of when to take your social security is haunting you. Do you take it now or wait? Before you decide, let’s first understand what social security is really about. Social Security Comes In Three Flavors When it comes to Social Security, you’ve got three alternatives: Take …