Claiming An Ex’s Social Security: Be Aware Of Misconceptions | Part 1

There are a lot of misconceptions about Social Security and divorce. Here are seven myths that are just plain wrong. Reduction Of Checks Is False A December 2020 Fidelity survey found that 52% of adults believed that someone’s ex-spouse could

Biden’s Plan for Social Security and Medicare | Part 4

Medicare Expansion It is important to stress that many social security disability claims are denied because of inadequate medical records and other information related to medical records such as Medicare enrollment. How will the new president effect Medicare and how

Biden’s Plan for Social Security and Medicare | Part 3

Medicare Solvency and Unsustainability of Medicare The relationship between Medicare and social security is a strong one. Medicare is not all financed in the same way thoughout as Medicare has multiple parts to it. The solvency issue comes from how

Biden’s Plan for Social Security and Medicare | Part 2

Biden also proposes several changes that I’d group together under the category of longevity insurance, with a goal of boosting benefits for older beneficiaries. This can be significant for clients who run the risk of running out of savings if

Biden’s Plan for Social Security and Medicare | Part 1

Under the new Biden administration the future of Social Security and Medicare President Joe Biden has proposed reform and expansion of both that go well beyond addressing solvency. The Social Security Problem A solvency problem that may be years out

Beware of Social Security Phone Scams (Part 1)

Many people have been targeted by a Social Security scam in the past three months. In fact, the surge in Social Security is unlike anything the SSA has ever seen before. Therefore, it is important to be informed and educated

Beware of Social Security Phone Scams (Part 2)

Part 1 of our Social Security phone scam series outlined red flags to look for if you get a call from someone depending to be from the Social Security Administration. Social Security might email you or text you about programs

Breaking Down The Full Retirement Age Of Social Security

Breaking Down Retirement Age For Social Security

Your monthly Social Security benefit is calculated based on your average monthly wage (adjusted for inflation) over your 35 highest-paid years of earnings. But you’re not entitled to that benefit in full until you reach full retirement age, or FRA.

EOY Assessment Of Social Security’s Budget And Financial Situation (Part 1)

According to a recent report (2020 Trustees Report) actuaries examined the impact of the pandemic and recession on Social Security using most recent data. As for the impact, “significant” is the best word to describe it. The report shows that:

EOY Assessment Of Social Security’s Budget And Financial Situation (Part 2)

Figure 1 shows Social Security’s income and cost rates over the next 75 years as reported in the 2020 Trustees Report. The average income rate did not change at all and the cost rate rose a tiny bit, leading to