#Social Security


Op-ed: Social Security trust fund will die in 2033. You need to take action now

Tens of millions of Americans lost their jobs due to Covid-19. Their loss of income caused problems for themselves and their families – and for the Social Security system. The problem is that the Social Security system is paying out more money to retirees than it collects from workers. You see, the money coming out of your paycheck does not fund your future retirement. Instead, your money is given to current retirees; the next generation to pay for your benefits, and the generation after that will pay for theirs.
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How to beat the average $1,557 monthly Social Security benefit

Many seniors are surprised to learn that Social Security won't replace their pre-retirement wages in full. If you're an average earner, you can expect your benefits to take the place of about 40% of your income. If you're an above-average earner, they might replace an even smaller percentage. As of...
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Claiming Social Security at 62? You May Need to Rethink That

One of the best things about Social Security is that you’re not forced to claim your benefits at a single specific age. Rather, you get a window to sign up for benefits that begins at age 62 and is technically open-ended, though financially speaking, there’s no incentive not to file by the time you turn 70.

What The New Outlook For Social Security Means For You

Whew! The pandemic had a smaller impact on the Social Security trust funds — that is, Social Security's solvency — than many feared during the depths of the pandemic downturn. According to the new 2021 annual report from the Social Security Trustees, the depletion date for the combined trust funds...

Social Security Benefits Will Only Fully Last Till 2034

WASHINGTON DC, September 3, 2021 ~ A report released by the US Social Security Administration revealed that the pandemic has “significantly affected” the funds with which benefits are paid. Full Social Security benefits will only be able to be paid until 2033. “The headline is important, and it is shocking...

Where Can You Find ‘One-Stop Shopping’ For Social Security

I always loved the idea of getting nearly everything I need in one place. Like a lot of guys, I hate shopping around. One recent discovery is the Social Security Administration’s “mySocialSecurity” portal. It’s like a superstore for Social Security benefits and information. After you sign up online, you can...

You Won’t Lose All Your Social Security Benefits

The Social Security OASI Trust Fund for retirement benefits is projected to be exhausted by 2033, according to the summary of the Annual Social Security and Medicare Trustees Report that was released in August 2021. That’s one year earlier than what was projected in the 2020 trustees report. Does this...

New CEPR Paper Demystifies Social Security Funding, Debunks Myths

Social Security “cannot run out of money, nor can benefits be threatened by a sudden shortage of revenues,” is a true and correct statement that continues to need restating. That’s why the Center for Economic and Policy Research (CEPR) released today, Social Security: Long May It Wave, by CEPR Senior Research Fellow Max B. Sawicky.