Podcasts about social security board

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2815: Amanda from WomenWhoMoney.com delves into the complexities of Social Security, addressing concerns about its future, how to estimate and maximize benefits, and the impact of potential legislative changes. She emphasizes the importance of proactive retirement planning, suggesting that Social Security should be considered a bonus rather than a primary source of income. Read along with the original article(s) here: https://womenwhomoney.com/social-security-planning-your-future/ Quotes to ponder: "Depending on your age, Social Security could play a significant role in your retirement finances as you grow older." "The Social Security Board of Trustees expects to be able to pay 100% of benefits through 2035." Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2815: Amanda from WomenWhoMoney.com delves into the complexities of Social Security, addressing concerns about its future, how to estimate and maximize benefits, and the impact of potential legislative changes. She emphasizes the importance of proactive retirement planning, suggesting that Social Security should be considered a bonus rather than a primary source of income. Read along with the original article(s) here: https://womenwhomoney.com/social-security-planning-your-future/ Quotes to ponder: "Depending on your age, Social Security could play a significant role in your retirement finances as you grow older." "The Social Security Board of Trustees expects to be able to pay 100% of benefits through 2035." Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2815: Amanda from WomenWhoMoney.com delves into the complexities of Social Security, addressing concerns about its future, how to estimate and maximize benefits, and the impact of potential legislative changes. She emphasizes the importance of proactive retirement planning, suggesting that Social Security should be considered a bonus rather than a primary source of income. Read along with the original article(s) here: https://womenwhomoney.com/social-security-planning-your-future/ Quotes to ponder: "Depending on your age, Social Security could play a significant role in your retirement finances as you grow older." "The Social Security Board of Trustees expects to be able to pay 100% of benefits through 2035." Learn more about your ad choices. Visit megaphone.fm/adchoices

It seems many still harbor, or want to perpetuate, the illusion that our Social Security system is not in trouble. Let me quote here from a press release from the Social Security Administration released March 31, 2023: “The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2034, one year earlier than projected last year, with 80 percent of benefits payable at that time.” In...Article Link

It seems many still harbor, or want to perpetuate, the illusion that our Social Security system is not in trouble. Let me quote here from a press release from the Social Security Administration released March 31, 2023: “The Social Security Board of Trustees today released its annual report on the financial status of the Social Security Trust Funds. The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2034, one year earlier than projected last year, with 80 percent of benefits payable at that time.” In...Article Link

Mark Alford, U.S. Representative for the 4th District of Missouri, reacts to House Speaker Kevin McCarthy's meeting with Taiwan's president Tsai Ing-wen, and comments on former President Trump's NYC case. Travis Weber, FRC's Vice President for Policy and Government Affairs, discusses state-level laws to protect children from transgender surgery. Stephen Moore, FreedomWorks Senior Economic Contributor, addresses the Social Security Board of Trustee's recent report projecting the program will become insolvent in a decade without legislative action taken and responds to the decline of the American dollar. Arielle Del Turco, FRC's Assistant Director of the Center for Religious Liberty, shares a new FRC report on this year's attacks against churches. Jim Roguski, member of the Law and Activism Committee at the World Council for Health, unpacks the latest news on the World Health Organization's pandemic treaty deliberations. --- Support this podcast: https://podcasters.spotify.com/pod/show/loving-liberty/support

Last year, when the Social Security Board of Trustees released its annual report, there was quite a bit of handwringing. The economic hardships of 2020 had depleted reserves quicker than anticipated and projections were showing that Social Security could run out in 2034, one year ahead of previous estimates. By then, Social Security would only be able to pay approximately 78% of expected benefits to retirees.  As we discuss on today's episode, this year's report, released on June 2nd, is a bit more optimistic. But the ongoing social, political, and economic challenges that will affect your benefits in retirement mean it's critical that folks understand how these funds work, maintain realistic expectations, and work with an advisor to plan ahead. 

Bloomberg recently ran an article that read, Rich Americans Who Fear Higher Taxes Hurry to Move Money Now. From the Social Security Administration’s website, “Currently, the Social Security Board of Trustees projects program costs to rise by 2035 so that taxes will be enough to pay for only 75% of scheduled benefits. This increase in cost results from population aging, not because we are living longer, but because birth rates dropped from three to two children per woman.” From NPR article in July of this year, “Most of those who watch Medicare finances agree that the larger problem right now is how much money is being collected for the trust fund. That money largely comes from the 1.45% payroll tax paid by employees and employers. With so many people out of work because of pandemic-related shutdowns, cash flowing in has dropped dramatically.”I could write a book on why taxes are going to go up, but I think you’re probably convinced if you’re still reading. I never like to share a problem with you without sharing a solution also. Staging a transition from tax-deferred savings vehicles like 401Ks and IRAs to tax-free savings vehicles like Roth IRAs and other strategies may be essential to you being able to maintain your quality of life in retirement. Who does this make sense for? Let’s find out. We have software that we can run an analysis on to see if it makes sense for you from a financial standpoint. You don’t have to depend on “hope so” or “maybe so.” Let’s control what we can control and take charge of our destiny. Click here to schedule a 15-minute call with me to get started on your complimentary tax analysis on your accounts. - David C. Treece, Financial AdvisorInvestment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual’s situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. Roth IRAs offer tax free income if distributions are taken after age 59-1/2 and the account has been open for at least 5 years. When converting funds to a Roth IRA, ordinary income taxes are due on the amount converted in the same year, and ideally should be paid with funds outside of the retirement plan.

Why the Social Security Board of Trustees see the system cutting benefits sooner than you think

There's no way to sugar-coat it. Social Security is going to fail. There are, of course, ways to possibly extend its life for a few years, or even decades, but ultimately, like all Ponzi schemes, it will collapse. By the federal government's and the Social Security Board of Trustees' own admissions, the Social Security program will be paying out more than it takes in in just 4 years. At current rates (and assuming the federal government fully pays back the more than $5 trillion it "borrowed" from Social Security's accounts), the program will be completely out of money in about 17 years. What does this situation mean for current working Americans? Is there any way to solve this problem? Join Antony Davies and James Harrigan as they discuss this and more on this week's episode of Words and Numbers.   Quick hits   Splitting up Amazon https://www.cnbc.com/2018/03/29/former-walmart-us-ceo-congress-consider-splitting-up-amazon.html   National pencil day https://nationaldaycalendar.com/days-2/national-pencil-day-march-30/   Foolishness of the week: Cancer warnings on coffee   https://fee.org/articles/why-californias-lawsuit-industry-wants-you-to-think-coffee-causes-cancer/?utm_source=FEE+Email+Subscriber+List&utm_campaign=ca27aafa08-MC_FEE_DAILY_2018_04_02&utm_medium=email&utm_term=0_84cc8d089b-ca27aafa08-107137661   https://www.cancer.org/cancer/cancer-causes/general-info/cancer-warning-labels-based-on-californias-proposition-65.html   https://www.refinery29.com/2018/04/195249/coffee-cancer-warning-label-california-starbucks-dunkin-donuts-reaction?bucketed=true   https://nypost.com/2018/03/30/de-blasio-eyes-vacancy-tax-for-greedy-landlords-seeking-top-dollar/?utm_source=facebook_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons   Topic of the week: Social Security   https://www.cnsnews.com/news/article/terence-p-jeffrey/social-security-administration-spending-tops-1-trillion-first-time https://www.ssa.gov/policy/trust-funds-summary.html https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html https://www.ssa.gov/history/nestor.html https://www.nytimes.com/2011/09/18/us/how-privatized-social-security-works-in-galveston.html https://www.state-journal.com/2018/01/25/you-asked-can-kentucky-teachers-retirement-system-participants-receive-social-security/ https://www.teacherpensions.org/blog/why-aren%E2%80%99t-all-teachers-covered-social-security https://www.cbsnews.com/news/matt-bevin-kentucky-lawmakers-pass-pension-overhaul-despite-teacher-ire/  

In today's podcast, we discuss the recent crypto meltdown (led by Ripple) and how it plays into our recent theme of avoiding huge mistakes. Here's the thing about big mistakes… they're usually obvious and avoidable. Like when the Social Security Board of Trustees told the world in its 2017 report that the “Trust Fund reserves will be depleted by 2035”… and that an “immediate and permanent reduction” in benefits to all current and future Social Security recipients is a reality. The government is telling you Social Security is running out of money. What are you doing about it? Likewise this morning, when Bloomberg reported China (the world's largest foreign holder of US Treasurys) is considering slowing or halting purchases of US government debt. This would have potentially catastrophic financial implications… and it's been a worry for a long time. But most people simply ignore the possibility. You can tune in here to learn about some of the big problems that are coming down the pipe and some simple steps you can take to prepare for them.

In today’s podcast, we discuss the recent crypto meltdown (led by Ripple) and how it plays into our recent theme of avoiding huge mistakes. Here’s the thing about big mistakes… they’re usually obvious and avoidable. Like when the Social Security Board of Trustees told the world in its 2017 report that the “Trust Fund reserves will be depleted by 2035”… and that an “immediate and permanent reduction” in benefits to all current and future Social Security recipients is a reality. The government is telling you Social Security is running out of money. What are you doing about it? Likewise this morning, when Bloomberg reported China (the world’s largest foreign holder of US Treasurys) is considering slowing or halting purchases of US government debt. This would have potentially catastrophic financial implications… and it’s been a worry for a long time. But most people simply ignore the possibility. You can tune in here to learn about some of the big problems that are coming down the pipe and some simple steps you can take to prepare for them.

In today's podcast, we discuss the recent crypto meltdown (led by Ripple) and how it plays into our recent theme of avoiding huge mistakes. Here's the thing about big mistakes… they're usually obvious and avoidable. Like when the Social Security Board of Trustees told the world in its 2017 report that the “Trust Fund reserves will be depleted by 2035”… and that an “immediate and permanent reduction” in benefits to all current and future Social Security recipients is a reality. The government is telling you Social Security is running out of money. What are you doing about it? Likewise this morning, when Bloomberg reported China (the world's largest foreign holder of US Treasurys) is considering slowing or halting purchases of US government debt. This would have potentially catastrophic financial implications… and it's been a worry for a long time. But most people simply ignore the possibility. You can tune in here to learn about some of the big problems that are coming down the pipe and some simple steps you can take to prepare for them.

A couple of weeks ago the Social Security Board of Trustees released their annual report that includes the status of the Social Security trust funds.  The system we know as Social Security is made up of two trust funds, the OASI (Old Age and Survivors Insurance trust fund) and the DI (Disability Insurance trust fund).  […] The post Update on the Status of the Social Security System appeared first on Help with My Social Security.com.

On the October 20, 2015 Boomer Generation Radio program, Rabbi Address chats with Dr. Alan Steinfeld about his early retirement. In the second half of the program, the guest is Social Security Commissioner Carolyn Colvin to discuss the 80th anniversary of the Social Security System. [powerpress] About the Guests Dr. Alan Steinfeld, an oncologist who was on the faculty of the School of Medicine at New York University, retired in his mid-50s to pursue his interests in genealogy and gardening. “I wanted the time to get things done while I had the physical strength, the mental strength, to do it. I actually stopped working full-time at age 54, worked for another year or two part-time, and then stopped completely,” he says. “In retirement, I have been deeply involved with two activities. One is genealogy. As an avid amateur genealogist for the past almost 40 years, I have used my retirement years to advance research into my family, teach the subject on various levels and use my knowledge to assist other groups (e.g, Dobbs Ferry Historical Society and the Village of Scarsdale),” he says. “I have also been a gardener for many decades. In retirement, I became a volunteer at the New York Botanical Garden. After leading tours for a number of years and working in the greenhouses, I moved to the library about 8 years ago, where I have cataloged a number of specialty collections.”   Social Security Commissioner Carolyn Colvin On June 20, 2014, President Obama nominated Carolyn W. Colvin as the Commissioner of Social Security. Since February 14, 2013, Carolyn W. Colvin has served as the Acting Commissioner. Prior to this designation, she served as the Deputy Commissioner, confirmed by the United States Senate on December 22, 2010 as President Obama's nominee. In addition to her role as the Acting Commissioner of Social Security, Ms. Colvin serves as a Trustee to the Social Security Board of Trustees. Throughout her career, Ms. Colvin has managed programs that help people with their healthcare and financial needs. She previously held key executive positions at Social Security Headquarters: Deputy Commissioner for Policy and External Affairs (1994–1996), Deputy Commissioner for Programs and Policy (1996–1998), and Deputy Commissioner for Operations (1998–2001). Prior to returning to SSA, Ms. Colvin was the Director of Human Services for the District of Columbia (2001-2003); the Director of the Montgomery County Department of Health and Human Services (2003-2007); the Chief Executive Officer of AMERIGROUP Community Care of the District of Columbia (2007–2008); and, the Special Assistant to the Secretary of Maryland's Department of Transportation (2009-2011). In addition, Ms. Colvin served as the Secretary of Maryland's Department of Human Resources (1989-1994). Ms. Colvin has received numerous awards and recognition for her managerial expertise and creativity. These awards include the Sun Magazine's 50 Women to Watch in 2014; the Innovations in Aging Leadership Award presented by the Maryland, Virginia and District of Columbia Departments of Aging (2012); The Clifford R. Gross Award for Outstanding Federal Government Public Service presented by the Maryland Chapter of the American Society of Public Administration (2012); Maryland's Top 100 Women Award from the Daily Record (2005); and , The Women of Achievement Award from Suburban Maryland Business and Professional Women (2005). She has served on a variety of boards and commissions, including the National Committee to Preserve Social Security and Medicare. Ms. Colvin earned her honorary doctorates, graduate and undergraduate degrees in business administration from Morgan State University. Additionally, she completed the Senior Executives in State and Local Government Program at Harvard University, the Maryland Leadership Program, and the Greater Baltimore Leadership Program. Ms. Colvin is from Maryland and currently resides in Anne Arundel County. She has one son and six grandchildren.

The concepts of solvency, sustainability, and budget impact are common in discussions of Social Security, but are not well understood. Currently, the Social Security Board of Trustees projects program cost to rise by 2035 so that taxes will be enough to pay for only 75 percent of scheduled benefits... adjustments to taxes or benefits that offset the effects of the lower birth rate may restore solvency for the Social Security program on a sustainable basis for the foreseeable future. Finally, as Treasury debt securities (trust fund assets) are redeemed in the future, they will just be replaced with public debt. If trust fund assets are exhausted without reform, benefits will necessarily be lowered with no effect on budget deficits. — Chief Actuary of the Social Security Administration. This week on the David Lukas Show, David continues the theme of Who's Supporting You... Who Can You Trust by talking about a very important player in retirement. Social Security. And why is Social Security a vital part of planning your retirement correctly? It's crucial because depending on when and how you choose to start collecting your benefits can greatly affect the security of your financial future. Important topics discussed in today's show: Social Security, the history When, why, and how Social Security affects your finances Concerns about the solvency of Social Security How Social Security impacts upon your retirement planning How the WorryFree Retirement® provides security in retirement To get all of this important information, and more, listen to the entire episode today. Articles referenced on today's show: PDF: When You Should Claim Social Security Wikipedia Article: Social Security Trust Fund Important information from last week's episode: Who are the five players in retirement ? The five players in retirement are as follows: The Government- offers support via Social Security, Medicaid, Medicare Your Employer- offers support by offering a defined benefit plan (pension) or a defined contribution plan (401k plan). Wall Street- provides opportunity for growth of investments, but no guarantees. Insurance Company(ies)- focused on guarantees and certainty Bank(s)- offers support by having a “safe” place to keep money. Want to know more about how David Lukas Financial can benefit you and your retirement portfolio—call all David Lukas, (501) 218-8880, today to learn more about The WorryFree Retirement® process. It's unlike anything else in the industry. David Lukas Financial is conveniently located right here in North Little Rock, Arkansas. The 3 Personalities of Money®: Do you know your financial DNA? Are you a Saver, an Investor or a Speculator? Learn about the three personalities of money and take the test today at: DavidLukasFinancial.com Free Annuity Decision Guide: STILL NOT SURE WHAT ANNUITIES ARE BEST FOR YOU? Get the Annuity Decision Guide for Savers today by clicking here!