Taking Social Security benefits early comes with a price, yet more than 4 in 10 Americans who are 50 and over say they'll dip into the program before reaching full retirement age.
Q. I am considering taking Social Security now, at age 63. Yes, I know all sorts of reasons to wait, like the annual increase of 8 percent in benefits. But there are some other reasons that I am thinking of that tip the balance the other way. My income is quite low now, so I need cash from somewhere–either my savings/investments or Social Security. If I use my savings, then that fund depletes and it would not be there for anyone to inherit when I’m gone. But no one will receive any of my Social Security benefits when I’m dead, so if I don’t take my benefits, and I die sooner rather than later, they remain untapped and disappear.
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The Obama administration is taking steps to help people with disabilities get their student loan debt forgiven, safeguarding their Social Security payments.
Q. Social Security’s changes not to allow file and suspend make sense. But they also stopped restricted applications. What were restricted applications?
There will be no benefit increase next year for millions of Social Security recipients, disabled veterans and federal retirees, the government said Thursday.
WASHINGTON (AP) -- Social Security overpaid disability beneficiaries by nearly $17 billion over the past decade, a government watchdog said Friday, raising alarms about the massive program just as it approaches the brink of insolvency.
While he hasn't formally announced he's running for president, Governor Christie made a statement this week implying some major changes need to happen nationwide. According to him, Medicare and Social Security need serious reform, including a means test and a higher retirement age.