Things You Should Know About Social Security
As it stands now, Social Security will be bankrupt in 2033 In 2025, there will be two people working for everyone receiving Social Security You can get your statement online at http://www.ssa.gov/mystatement/ Know what you want to have happen before you file for Social Security–“do- overs” are tough, and after 1 [...]
Social Security Statements No Longer Mailed
You may have noticed that you’re no longer getting the annual Social Security Statements . The annual statements were a good way to check that earnings records had been reported correctly and a way for you to estimate your expected retirement benefit. However, due to budgetary issues, the Social Security Administration stopped mailing these [...]
Payroll Tax Cut Extension 2012
On the evening of Feb. 22 at the White House, President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012, H.R. 3630. On Feb. 23, the IRS released a revised Form 941, Employer’s Quarterly Federal Tax Return, to reflect the extended payroll tax cut. The act extends the [...]
What You Should Know About Social Security
About 150 million people contribute and 55 million collect Average monthly benefit: retired worker = $1,200; retired couple = $1,900 Social Security benefits are calculated using the highest 35 years of earnings 62 is the earliest you can receive benefits–most people start at 62 and 95% start by 66 Every month you delay after full [...]
Extra Retirement Income From a Past Divorce
Times are tough out there and here is some advice that you may have forgotten about or didn’t know. A person can collect Social Security benefits based on his/her own earnings history, or 50% of his/her former spouse’s benefit if it is greater than his/her own, or 100% if the former spouse is deceased. In [...]
