Is Social Security really going broke? The answer depends on your meaning of the word broke. In this post, I'll give you the facts about the state of the Social Security trust fund, introduce you to some of the ideas to fix it, and how all of this impacts the decision of when to claim your benefits. The Social Security trust fund The Social Security Trust Fund consists … [Read more...] about Is Social Security Really Going Broke?
The question, what are Social Security COLAs (cost of living adjustments) comes up a lot. The equally common problem is, how are they calculated? In this post, I’ll answer these two questions and give some background on how these two things impact Social Security benefit checks. To get it from the horse’s mouth, I went to this Social Security website page, Cost-of-Living … [Read more...] about What Are Social Security COLAs and How Are They Calculated?
Americans are living longer than ever. The following life expectancy study from the Brookings Institute illustrates this point. For married couples, there is an 88% chance that one will live to age 80, and a 45% chance that one will live to age 90. Living longer requires our money to last longer. Outliving our money is one of the biggest fears for those planning for … [Read more...] about Five Ways to Make Retirement Assets Last Longer
Social Security Administration recently announced 2018 Social Security COLAs (cost of living adjustments) and other benefits. The 2018 COLA will be 2.0% for 2018. That's the largest since 2012. In July, the Social Security Board of Trustees estimated a 2.2% COLA for 2018. The Social Security Administration says that COLA increase applies to over 65 million … [Read more...] about 2018 Social Security COLAs Announced