Social Security - Registered Investment Advisor

The “Truth” about Social Security

By Scott Burns Social Security, the most important social program in America, is also the least understood. Many retirees depend so much on Social Security that any discussion provokes anger. The very young are the opposite— they dismiss it with...

Posted Jun 11 2010, 03:00 PM by admin with | with 1 comment(s)

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The Coming “Modernization” of Social Security

By Scott Burns As a subject, Social Security ranks somewhere between Britney Spears and vampires. Google told me so. It revealed more than 50 million references to Britney, but millions fewer for “Social Security.” Vampires were real underdogs...

Posted Jun 04 2010, 03:00 PM by admin with | with 1 comment(s)

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A Tale of Three (Or Maybe Four) Tax Bills

By Scott Burns Which of these tax bills would you rather pay? a. $0 b. $610 c. $2,004 This is not a trick question. The historical role of taxes as the price of civilization notwithstanding, most people will go for answer (a) because most of us have a...

Posted May 21 2010, 03:00 PM by admin with | with 3 comment(s)

Filed under: Social Security, Taxes & Other Disasters, Government

Comparing Paychecks: Workers and Retirees

By Scott Burns As far as I can tell, the goal of the AARP--- the American Association of Retired People--- is to enslave all those of working age. Once enslaved, workers will support retirees in the style to which the AARP feels they are entitled. This...

Posted Oct 16 2009, 03:00 PM by admin with | with 4 comment(s)

Filed under: Social Security

Stay Married and You can Collect Spousal Benefits

By Scott Burns Q: I am 62 years old and still working. My husband of 37 years is retired and collecting Social Security. Am I entitled to receive some portion of his benefit? We live separately, but we are not legally separated nor divorced. Will my receiving...

Posted Sep 09 2009, 03:00 PM by admin with | with no comments

Filed under: Q&A (from print), Social Security

Coping With Required Minimum Distributions

By Scott Burns Overheard in a restaurant. First man: “I don’t have to take a Required Minimum Distribution this year. Isn’t that a nice break?” Second man: “It sure is--- as long as you can get over the inconvenience of not...

Posted Jun 12 2009, 03:00 PM by admin with | with 1 comment(s)

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Playing in the Casino of Life and Death

By Scott Burns Q. I’m a 62-year-old black man, eligible for early Social Security. After working 42 years I was recently downsized. I currently have roughly $140,000 in my 401(k) account. We have no mortgage on our home. My wife receives $8,000...

Posted Apr 22 2009, 03:00 PM by admin with | with no comments

Filed under: Q&A (from print), Social Security

You Don’t Have To Be Rich To Pay Taxes On Social Security Benefits

By Scott Burns Q. Would you please clarify this sentence from a recent column: "If you earn very much, however, your (Social Security) benefits become subject to income taxes." Is there a magic "earned income" number below which one...

Posted Apr 08 2009, 03:00 PM by admin with | with no comments

Filed under: Q&A (from print), Social Security

Taxes on Working Senior Citizens Can Be Very High

By Scott Burns Q. I am 73 years old, on Social Security and working part time. Am I required to have payroll taxes deducted from my paychecks? ---O.N., by email from San Antonio, TX A. Yes, the payroll tax, which is often called the employment tax, will...

Posted Mar 18 2009, 03:00 PM by admin with | with no comments

Filed under: Social Security, Taxes & Other Disasters, Government

Betting on Social Security Deferral

By Scott Burns Readers had two questions about my recent column on taking my Social Security benefits. Most readers wanted to know why I had waited so long--- several months after my 68th birthday. After all, they argued, it would take years to recoup...

Posted Mar 04 2009, 03:00 PM by admin with | with 3 comment(s)

Filed under: Q&A (from print), Social Security

Lower Earnings Won’t Have a Big Impact on Social Security Benefits

By Scott Burns Q. My understanding of Social Security is that your benefit is based upon an average of your last three years of earnings. My wife (age 60) would like to draw at age 62, using savings as a bridge from now until then. She is currently earning...

Posted Nov 05 2008, 03:00 PM by admin with | with no comments

Filed under: Q&A (from print), Social Security

Social Security for the Young

By Scott Burns Nearly five years ago MIT Press published “The Coming Generational Storm,” a book I co-authored with economist Laurence J. Kotlikoff. We shared a deep foreboding about the implicit debt of our government and the burden it put on the young...

Posted Oct 31 2008, 03:00 PM by admin with | with 1 comment(s)

Filed under: Social Security, Government

Life, Death and Social Security Benefits

By Scott Burns Q: I am 69 years of age. I have been receiving Social Security benefits for the past four years. My current monthly payment is $1,888 per month. If I give back my total benefits of $84,960, Social Security will increase my monthly payment...

Posted Sep 10 2008, 03:00 PM by admin with | with 1 comment(s)

Filed under: Q&A (from print), Social Security

Taking Social Security Benefits Now vs. Later

By Scott Burns Q. I'm 61 and will be eligible for Social Security benefits next year. From the numbers provided by the Social Security Administration, the difference between the age 62 payment and the full retirement (age 66) payment is about $595...

Posted Sep 03 2008, 03:00 PM by admin with | with 3 comment(s)

Filed under: Q&A (from print), Social Security

Tracking the Social Security Benefit increase for 2008

By Scott Burns The consumer price index for July increased 0.5 percent. It increased the CPI-W to 216.304. The increase over the prior year was 6.2 percent. Here’s the press release: http://www.bls.gov/news.release/cpi.nr0.htm In case you missed it, my...

Posted Aug 18 2008, 03:00 PM by admin with | with 3 comment(s)

Filed under: Social Security, Follow On

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Registered Investment Advisor

The “Truth” about Social Security

The Coming “Modernization” of Social Security

A Tale of Three (Or Maybe Four) Tax Bills

Comparing Paychecks: Workers and Retirees

Stay Married and You can Collect Spousal Benefits

Coping With Required Minimum Distributions

Playing in the Casino of Life and Death

You Don’t Have To Be Rich To Pay Taxes On Social Security Benefits

Taxes on Working Senior Citizens Can Be Very High

Betting on Social Security Deferral

Lower Earnings Won’t Have a Big Impact on Social Security Benefits

Social Security for the Young

Life, Death and Social Security Benefits

Taking Social Security Benefits Now vs. Later

Tracking the Social Security Benefit increase for 2008

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