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How to make your retirement comfortable and secure
When Social Security was first enacted 85 years ago, it was designed to provide roughly 40 percent of your preretirement income. Currently, the average monthly Social Security benefit is $1,547 or about $18,500 per year, which means most of us…
The pandemic has taken a toll on women’s retirement savings.
The economic slowdown caused by the pandemic has taken a toll on retirement savings, especially for women. According to data from the Bureau of Labor Statistics, since the beginning of the pandemic, more than 2.3 million women have left the…
Social Security claiming tips for women
Today is International Women’s day so it would be appropriate to discuss retirement planning for women. As you know, generally women live longer than men which makes it more likely without proper retirement planning, a woman would run out of…
Medicare Part A Facing Insolvency
Actually, it’s no secret that Medicare Part A - which is coverage for inpatient hospitalization services - is facing big fiscal issues in the not-to-distant future. For years, the Medicare Trustees have been warning Congress that unless they act soon,…
An Overview of Social Security
In this excellent piece appearing at Forbes Advisor, contributors E. Napoletano and John Schmidt provide a wide overview of the American Social Security system, including some history and the basic parts about how benefits are computed and when you can…
Job Assistance From Social Security
Social Security, by it’s nature, has frequent interaction with employers, many of whom are looking for employees. As a supplement to their “Ticket to Work” initiative, Social Security has announced availability of a “virtual career fair” to assist those who…
Income Taxes and Stimulus Payments - Are Your Payments Taxable?
It sure was nice for many of us - getting that pandemic-induced money we’ve come to know as “stimulus payments” last year. But now that the annual income tax season is in full swing, many are wondering whether that much-needed…
“Musings of an aging codger” - The Social Security Administration today.
Tom Margenau is a normally upbeat, retired Social Security employee who writes a regular column dispensing important Social Security information in an entertaining manner. In this week’s column, Tom reflects back on his many enjoyable years with the Social Security…
The Minimum Wage Debate: More Viewpoints Surfacing
While the debate surrounding the $15 federally mandated minimum wage component of the $1.9 trillion COVID-19 relief bill moving through the House continues to evolve, and as the House digests the implications of the Senate parliamentarian ruling yesterday that the…
The Minimum Wage Increase and Social Security–Looking at the Implications
The potential for a $15 per hour federally mandated minimum wage is under heavy debate right now in Washington, and may or may not make its way into law soon. If it were to be enacted, many analysts focused on…