It appears that instead of a federal fiscal budget that sticks to the basics, we are growing accustomed to an ambitious central government that doubles its spending every generation or so on new and e...
Tag: Social Security
The Real Federal Deficit: Social Security And Medicare
The taxes these retirees paid when they were working have already been spent. Nothing was saved for … [+] the future. Getty Images How much does the federal government really owe? According to t...
‘Entitlement Reform’ Is a Self-Serious Non Sequitur That Won’t Shrink Government
Let’s get the obvious out of the way: Social Security and Medicare were and are impressively foolish ideas. That Americans desire comfortable retirement that includes healthcare is all the evidence we...
Why Cut Social Security and Medicare? Here’s Why.
Every election cycle, Democrats claims that Republicans would savagely cut or even end Social Security and Medicare. Today is no different. Yet Republicans continue to be elected, often controlling Co...
French Lessons For The U.S. On Social Security Reform
The French, God love them, are protesting in the millions over President Emmanuel Macron’s proposal to increase the retirement age for government pensions from, wait, 62 to 64 – even as Americans must...
The Trillion Dollar Coin And Other Longshot Debt Crisis Solutions
Can Treasury mint a trillion dollar coin to avoid a bitter fight over the debt ceiling and a … [+] possible U.S. default? getty With Kevin McCarthy (R-CA) becoming Speaker of the House by giving...
How to use a required minimum distribution for unpaid quarterly taxes
Sdi Productions | E+ | Getty Images If you’re retired and skipped your 2022 tax payments, you can still avoid late penalties with an under-the-radar year-end strategy, experts say. Since taxes a...
I’m Not Afraid Republicans Will Cut Social Security. I’m Afraid They Won’t.
Congressional Democrats’ final argument prior to the mid-term elections was, of all things, that Republicans would cut or even “end” Social Security. In reality, most Republicans have not given Social...
What Difference Did The Election Make?
Why did the elections bring so little change? getty The polls told us that 85 percent of the population thought the country was headed in the wrong direction. Yet, voters went out and reelected almost...
Neither Party Has A Good Plan For Social Security And Medicare
It’s abundantly clear that neither party has a good plan to secure Social Security and Medicare for … [+] current and future beneficiaries. getty The future of Social Security and Medicare has u...
Retirement Savings By Age: Max Out Your Potential
At home getty Key takeaways How much each person should save for retirement varies based on your income, lifestyle, goals and savings potential However, benchmarks that highlight retirement savings by...
U.S. Retirees Aren’t Waiting Till Age 70 to Collect Social Security
The U.S. government is not hiding the fact that the longer you wait to collect Social Security, the more money you collect. In fact, the concept is fairly straightforward. Here’s the deal, straight fr...
Here’s why the $39 trillion U.S. retirement system gets a C+ grade
Siriporn Wongmanee / Eyeem | Eyeem | Getty Images The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than...
Bipartisan Cooperation to Battle Poverty
Bipartisan collaboration is all too rare these days. But Ohio’s two senators – the progressive Sherrod Brown and the conservative Rob Portman – are cosponsoring legislation to increase the asset limit...
Will Hordes Of Poor Seniors Overwhelm Government Welfare Programs?
The editors of Bloomberg recently published a series of editorials on America’s impending “retirement crisis,” which they assert could “under reasonable assumptions … overwhelm state budgets across th...
Nearly seven in 10 Americans want to live to 100, study finds
Despite fears of outliving savings, most Americans still want to live longer, a study on longevity and retirement shows. Nearly 70% of Americans want to live to age 100, with 29 years as the “id...
Here’s why you may want to think twice about that early retirement plan
Kathrin Ziegler | DigitalVision | Getty Images Life may be short but early retirement might be, too, if you don’t have a solid financial plan for life after work. Whether it’s due to pande...
When Does a Senior Citizen on Social Security Stop Filing Taxes?
Key Takeaways • If the only income you receive is your Social Security benefits, then you typically don’t have to file a federal income tax return. Our TurboTax Live experts look out for you. Ex...
What’s The Risk I’ll Be Double-Crossed If I Delay Social Security?
Some people claim early because they are afraid benefits will be chopped. What are the chances of this? Play the odds (Photo illustration by Kevin Dietsch) Getty Images “I’m 66. Married, filing jointl...
How Delayed Retirement Enhanced Americans’ Retirement Security
In 1934, the French entomologist Antoine Magnan calculated that bees should not be able to fly. The aerodynamics were all wrong. The bees didn’t listen and flew anyway. We’ve also heard for decades th...