Social Security

     Millions of Americans receive a Social Security check each month but I'm not one of them.  I turned 65 this year but decided to wait until age 66 to apply for the monthly check.. The one year wait won't make much different, probably less than $100 more each month. But the difference between getting a check at 62 vs 66 is about $310 a month and on my limited income that's huge for me.

     We should all be thankful for a program like Social Security but the program is not as solid as it should be.  The retirement of baby boomers and the almost 10 year rise in life expectancy are two things the designers of the program did not plan for.  By 2020 the program will be paying out more that it takes in and by 2034 the program is expected to run out of money if changes are not made.  Congress has been kicking this can down the road for a long time.