Headlines
BREAKING NEWS: 2021 COLA Announced — Good News/Bad News
The good news is Social Security recipients will get an increase in benefits starting in January 2021. The bad news is it will not be much. The Social Security Administration just announced a 1.3% bump, as they do each October for…
Columbus Day Observed Today
Perhaps the most inconsistently celebrated of all the U.S. holidays is the one officially marked on the second Monday each October. Columbus Day officially celebrates the anniversary of the Italian explorer’s arrival in the Americas in 1492 on October 12th. It’s one of 10 official federal holidays and as such…
Working While Collecting Early Social Security Can Hurt You
Many – in fact a majority – of Social Security beneficiaries claim their benefits at age 62, before their full retirement age, or “FRA.” But doing so without fully understanding the consequences of claiming early can come back to haunt you,…
Does Social Security Still Send Paper Checks?
Almost everyone would agree that the world we live in today is highly automated, especially when it comes to financial transactions. And that includes payment of your monthly Social Security benefit, which is almost certainly automatically deposited in the bank…
America’s “Retirement Crisis” Explained
According to this article, “The trade-off to sure up your retirement is as tough as a stewed skunk: You either need to save more now or work more later. ” That’s an unpalatable, but apt description of a solution to the general…
Social Security’s Disability Anti-Fraud Unit Expanding
Social Security Disability Insurance (SSDI) provides a critical financial lifeline for over 8 million disabled American workers. SSDI provides benefits to workers who become disabled and are no longer able to work prior to reaching their full retirement age. Unfortunately, there is…
Don’t Panic About Social Security’s Future
Fielding a question from someone who wonders, because of news reports about Social Security’s future, if they should claim benefits at age 62 instead of waiting until 70 for the higher amount, financial columnist Liz Weston counsels not to panic. “Social Security isn’t…
In today’s economic environment, Social Security carries more weight.
In today’s economic environment with interest rates hitting bottom, yields on conservative investments such as bonds and certificates of deposit are paltry, Social Security is a valuable component of your retirement income portfolio. Social Security usually receives an annual cost…
Claiming benefits as early as possible could be a smart financial decision
One of the most important retirement decisions you will make is when to begin claiming your Social Security. Why? If you claim at 62, the earliest you can, you will receive smaller checks but more of them but claim later…
Estimates for the 2021 Part B premium have been tricky due to the pandemic
Normally, this time of the year we would be reporting how much the standard Medicare Part B premium will be for next year, but this is or was, not a normal year. Estimates for the 2021 Part B premium have…