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How could Social Security Insolvency affect your Retirement?
This report by David Fei published on June 3, 2024 for FedSmith.com contains information on this very topic. Perhaps it’s a good strategy to take the potential reductions to consider in your retirement planning. Social Security will always pay benefits.…
The So-called Social Security “Apocalypse”
“Apocalypse” and “Doomsday” are words which have been used to describe Social Security’s looming financial issue, but both words are not an accurate way to described the problem. According to this FOX29 article by Heather Miller, it would be more…
All About Taxation of Retirement Benefits (including Social Security)
Ben Franklin once said, “Nothing is certain but death an taxes.” Especially at the Federal level, taxation of your income may be inevitable, but the story is considerably different when it comes to State income taxes. The fact is, that…
Social Security Solvency: A Perspective
Considering all the media exposure the topic has received in recent years, you’re likely already aware that Social Security is facing some financial issues in the not-too-distant future. To be exact, 2033 is when the program’s Trustees currently project Social…
About Medicare Advantage and Prior Authorizatons
Medicare Advantage (MA) plans, often referred to as Medicare Part C, are healthcare insurance plans that replace “original Medicare,” often doing so at little to no additional cost, while simultaneously offering additional services. The combination of additional services at low/no…
Memorial Day – A Time for Reflection
On this solemn day, we pause to reflect upon the ultimate sacrifice made by so many Americans. Earlier this month we celebrated Armed Forces Day honoring all currently serving in our armed forces, and in November we will celebrate Veterans…
Will fixing Social Security fall to the Millennial generation?
With the many perspectives on how the Social Security dilemma will play out, this article by Kerry Hannon for Yahoo Finance ponders on a scenario where Millennials take the hit. Read here… As an example of the leading thoughts on…
Another View of Social Security Insolvency
By now we all know that if Congress does not act the Social Security trust fund will run out of money in approximately a decade. There are several reasons for this including a decline in the working population and longer…
Viewpoints on Privatization of Social Security In the News Again
Since the Social Security Board of Trustees issued the 2024 Report on the status of the Old-Age and Survivors and Disability Insurance trust funds earlier this month, the tempo has been building regarding the program’s future financial problems. Nothing in…
Warning: Retirees Are Likely to Continue Losing Ground to Inflation
You’ve probably seen the reports stating that seniors have lost considerable ground to inflation since 2000. If you’re a retiree living on Social Security benefits, you’re well aware of the cost increases that have outstripped your income for some time,…