Headlines
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…
Rethinking your decision to claim Social Security early?
The recession caused by the coronavirus was particularly hard on older workers. According to the Labor Department, the jobless rate for workers over 55 jumped to 13.6 percent in April. According to research from the Center for Retirement Research at…
2021 COLA Watch: Still looks like 1.3%
Although it won’t be official for a few more weeks, the rumor mill appears to be circling consistently around a 1.3% cost-of-living adjustment for Social Security recipients in 2021. CBS MoneyWatch’s Aimee Picchi, in a post on everythinglubbock.com, reports on the Senior Citizens…
GAO Comptroller Discusses Covid-19 Impact on Retirement Planning for Women
In testimony before the U.S. Senate Special Committee on Aging, GAO Comptroller General Gene L. Dodaro reported that the pandemic’s economic devastation ” … will affect the retirement security of older workers because they have less time to recover from any effect on…
Clarification on Payroll Tax Option’s Impact on Social Security
President Trump’s August 8 directive to the U.S. Treasury to allow employers the option to defer payroll taxes for the period of September 1, 2020, through December 31, 2020 has generated quite a bit of media rhetoric about its impact…