Spouse2

A Question About Spousal Benefits

Q: I reach age 66 in August. A Social Security representative contacted me about my online retirement application. She said my wife could collect half of my amount when she reaches age 66 later this year and that she could later collect her own retirement at age 70. Is this correct? A: As a general…
Read More

SSI-poster

Earnings And Supplemental Security Income (SSI)

Q: How do earnings reduce Supplemental Security Income amounts? A: This question is about Supplemental Security Income (SSI) and does not apply to Social Security benefits. Supplemental Security Income is a Federal income supplement program funded by general tax revenues. It is designed to help people aged 65 and over as well as blind and…
Read More

Couple

Retirement Amounts To A Couple

Q: Is there a limit to the amount of Social Security benefits payable to a couple?  A: This question is received so often that I routinely discuss it when teaching retirement seminars.  There is no marriage penalty, limit or other reduction when each member of a couple receives Social Security retirement based on their individual work records.  …
Read More

Aged_Chartbook2014

Income Of The Aged

For many years the Social Security Administration has surveyed the aged population to determine their economic status. The newest edition of this, called the Income of the Aged Chartbook, has just been published online using 2014 data. The publication covers the population aged 65 or older. Social Security benefits were never intended to provide complete…
Read More

myRAbanner

Treasury Dept. MyRA (my Retirement Account)

A popular theme of many retirement articles is that Americans do not save enough. Not everyone has a way of easily saving for the future. Recently developed by the U.S. Dept. of the Treasury, the myRA (my Retirement Account) program is an easy, affordable way to help people start saving for retirement at small amounts.…
Read More