Category: Social Security Facts

Social Security Quiz: How Well Do You Understand Social Security?

The insurance company Mass Mutual recently put together a Social Security knowledge quiz. The format is true or false and may educate people a little better about a system which many people rely on and continue to rely on. If

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Longevity Indexing: Calculating The New FRA (Full Retirement Age)

Adjusting the FRA is the one agreed upon method of handling rising social security benefit costs in the past. Most likely, this will continue into the future. Exploring in detail will reveal exactly how the numbers should play out. Increasing

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The Benefit Of IRAs and Social Security Together | Part 2

Retire Early The earliest age at which you can start collecting it is 62 and the latest is 70. This will effect social security in different ways, however. If you want to retire at, say, 60, you will have to

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The Benefit Of IRAs and Social Security Together | Part 1

Here’s a look at what traditional and Roth IRAs are and three ways that they can be perfect supplements to your Social Security income. Traditional and Roth IRAs Traditional and Roth IRAs both offer tax-advantaged saving, but the tax breaks

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Claiming An Ex’s Social Security: Be Aware Of Misconceptions| Part 2

Don’t Need To Wait For Ex To Claim To get your ex’s Social Security, they need to be eligible for benefits. That means they must be at least 62 with a minimum of 40 work credits, which is the equivalent

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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

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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

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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

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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.

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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:

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