retirement

Report: The graying of society may cause full-blown crisis

by Staff | November 2nd, 2011

According to The Washington Post, the aging of the human race has been faster than anyone could have imagined. As fertility rates have plunged globally, life spans have increased, re-contouring the age graph, which once had a tiny number of old folks at the peak of the pyramid. These old folks are now fast becoming the broad foundation of the pyramid graph. In many respects, this is good news: longer life spans and improvements in modern medicine and nutrition.

But unexpectedly, this abrupt demographic transition has created economic upheaval. The world needs more workers to provide goods and services to huge numbers of pensioners.

Luckily, in the United States, with fertility rate just slightly below replacement level and immigration boosting the work force, we have a higher rate than many countries. But the baby-boom generation is storming the higher age brackets: the number of Americans 60 to 64 jumped from 11 million to 17 million in the most recent census. In 1935 when Social Security was established, life expectancy was just under 62. Today, it is 78 and rising.

According to the U.S. Census Bureau, the number of workers will steadily and dramatically decrease in relation to retirees. The ratio of working-age people to retirement-age people will go from about 5-to-1 to 3-to-1 in the next two decades.

“It’s a big, big social change. Lots of thing are going to be disrupted,” said Ted C. Fishman, author of Shock of Gray.

Read more.

How do you think this graying of society is affecting the Social Security program?

If you need help with your Social Security Disability benefits, contact the Social Security Disability lawyers at Fleschner, Stark, Tanoos & Newlin.

Recession prompts early collection of Social Security benefits

by Staff | April 7th, 2011

April 6, 2011

According to a blog on Forbes.com, 45% of current retirees reported they had left the work force before they planned to in order to collect Social Security benefits, with 63% citing health or disability as one of their reasons for doing so; 23% citing downsizing or changes at their company; and 18% mentioning the need to care for a spouse or other family member.

The number of people retiring at the earliest age of 62 had declined for years but has increased during the recession. The lack of the stability in the job market promoted many to start collecting Social Security benefits.

Read more.

What do you see happening to Social Security benefits in the future? Were you one who tried to collect benefits at 62 for reasons regarding the recession?

If you need help getting Social Security benefits you deserve to get your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.

Taxes, retirement raise questions on Social Security benefits

by Staff | March 21st, 2011

March 21, 2011

Saving for retirement and collecting Social Security benefits can be confusing. Add taxes to the equation, and it gets really confusing.

According to marketwatch.com, there are a lot of myths and misconceptions about earning income in retirement and what Social Security benefits you qualify for, as well as what it taxed.

“If you work and you bring additional earned income into the household, there is more money there,” said a marketwatch analyst. “You don’t get to keep all of it, Uncle Sam will take a piece, and you may impact a couple other parts of the retirement pie as well, but it’s never a net negative.”

Read more.

What myths have you heard about Social Security benefits? What do you think is the most confusing thing about Social Security benefits?

If you need help getting Social Security benefits you deserve to get your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.

Social Security benefits will fluctuate between now and retirement

by Staff | March 11th, 2011

March 11, 2011

Every year the Social Security Administration sends an annual statement that shows what your Social Security benefits will be at retirement, the Chicago Tribune reports.

Some people build their retirement plans based on the number they receive, but the numbers can change between now and the time you reach retirement and can apply for Social Security benefits.

What confuses you the most about Social Security benefits? Do you believe your plans for retirement are secure?

If you need help getting Social Security benefits you deserve to get your put your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.

Social Security benefits can be received as early as 62

by Staff | December 13th, 2010

December 13, 2010

A reader posed a question to mysanantonio.com asking what the options are for receiving Social Security benefits.

In the reply, it explains that Social Security benefits can be received as early as 62 and as late as 70. Your Social Security benefit amount will depend on the age you retire.

There are many stipulations to receiving Social Security benefits. You can check them out by clicking here.

If you need help getting Social Security benefits you deserve to get your put your life back on track, the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin can help.