Headlines
Social Security COLA Watch, 2023 Version
Since the most recent Consumer Price Index (CPI) numbers were released earlier this week, the airwaves have been popping with projections of what next year’s cost-of-living adjustment for Social Security beneficiaries will be. Here’s one example. Many of these projections…
A Perspective on Social Security’s Solvency Crisis
Several weeks ago, we commented on the results of a survey by financial services company Nationwide suggesting that 71 percent of adults believe Social Security would run out of money in their lifetimes. Whether you believe that or not, it’s…
A Critical Review of “Your Social Security Statement”
The Social Security Administration has been making substantial strides in improving the format of one of the most important pieces of information available to those planning their retirement finances–“Your Social Security Statement.” It’s available in two formats: (1) the online…
Social Security’s COLA Flaw Highlighted in MSN post
Although the design premise behind Social Security’s annual cost-of-living adjustment (COLA) called for ensuring that beneficiaries’ monthly payments would keep pace with inflation, the current rapid rise in living costs is shining a spotlight on a flaw in the actual…
Retirement Saving 101: Build an Emergency Fund
None of us want to think about the worst-case scenario, but they happen. Most of us have experienced medical emergencies, car issues, or an unexpected home repair, but having an emergency fund will lessen the blow. Building an emergency fund…
Take control over how much Social Security income you will receive
Did you know that you have some control on how much your Social Security benefit will be? How? Your benefit amount is calculated using the average of your 35 highest-earning years. If you work for fewer years, those zeros are…
New Senate bill would increase caps for SSI recipients
On April 28th, Sen. Sherrod Brown and Sen. Rob Portman introduced the SSI Savings Penalty Elimination Act (S. 4102) into the Senate. The bill intends to amend title XVI of the Social Security Act to update the resource limit for…
The politics of Social Security reform
Social Security provides 65 million Americans with a source of income. It also plays a vital role in reducing poverty in every state and lifts more people above the poverty line than any other program in the United States. Without…
Three important things you should know about Social Security
Over 65 million people, or more than 1 in every 6 U.S. residents, collected Social Security benefits in January 2022. Social Security is a major source of income for most American seniors; however, only one percent of respondents were able…
Retirement Savings – Millennials are ahead of their parents
Who’d have thought it? There has been so much press in the last decade on how younger generations spend money in profligate ways, from the newest I-phones to streaming services to $20 avocado toast. But Nicole Goodkind of CNN Business…