COLA’s 2022 Reality

As we reported several months ago, Social Security beneficiaries were optimistically looking forward to January and the added 5.9-percent cost of living adjustment (COLA) in their monthly payments. It was an uncommonly large increase, since annual COLA adjustments during the…

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U.S. Workers Weigh In On Social Security Concerns

The 21st Annual Transamerica Retirement Survey published a few weeks ago put a spotlight on the concerns that a large segment of the American workforce harbors about the future of our Social Security program. In a recent report published by…

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The “New” FRA, and What It Means to New Filers

Those reaching age 62 in 2022 will now be subject to a full retirement age (FRA) of 67, and along with that slight adjustment comes a bit of math that new filers need to understand. Specifically, it means that the…

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Retiring on Social Security As Your Only Income Source?

Unfortunately, many folks entering their retirement years are forced, for whatever reason, to rely totally on their monthly Social Security benefits for income. That’s not an easy thing to do, with the 2022 average monthly benefit of $1,657 ($19,884 annually).…

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Who are the pandemic retirees?

Recent research by the St. Louis Federal Reserve found the “Great Retirement” trend was driven by women aged 65 and older. Americans retired early during the pandemic for many reasons, either by choice or were forced to by job loss,…

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“Ask Rusty – Is My Analysis of my Wife’s Social Security Correct?”

Dear Rusty: I am 63 and my wife is exactly 4 ½ years younger than me to the day. I plan to file for Social Security when I turn 70. My earnings history is considerably higher than my wife’s. I…

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