Estimate For Your Survivors – SSA Statement

Last week I wrote that Social Security survivors benefits were not included in the original 1935 Social Security Act but were considered so important that they were created as part of the 1939 Amendments. This changed Social Security from a retirement program only for individual workers into the family-based economic security program we have today.…
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Average SSA Retirement Amount & MyRA

Social Security was never intended to provide your complete retirement income. Financial experts say you need 70-80 percent of your pre-retirement income for a comfortable retirement. Since Social Security replaces only about 40 percent of pre-retirement income for the average worker, having pensions, savings, and investments are important. To illustrate this, the average, individual, Social…
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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…
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Today Is Check Your Statement Day

Noted in yesterday’s post about my Social Security, today is “Check Your Statement Day.” Checking your Social Security Statement is important for retirement planning but, in my opinion, it is even more important for people many years away from retirement, especially if you have dependent children. Including survivors and disability benefits, Social Security is far…
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America Saves Week

America Saves Week, February 22-27-2016, reminds us all of the importance of saving and investing for the future. The Social Security Administration is one of many public and private organizations participating in America Saves Week. The “For Savers” section of the America Saves Week website has specific ideas that you might find useful A first step…
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