Headlines
Social Security: More than just your benefit changing in 2019
Of course, the big news about Social Security for 2019 is that recipients will be given a 2.8% COLA increase, the largest in a number of years and news that surely makes everyone happy. But considerably less reported on are…
Medicare Open Enrollment period starts today; here’s what you need to know
Medicare’s annual enrollment period runs from October 15th to December 7th, and this is the time when you can make any desired changes to your Medicare coverage, including your Medicare Advantage (Part C) plan or your Prescription Drug (Part D)…
How baby boomers’ stark retirement choices are a lesson for Millennials
Almost 20 million working Americans between ages 55 and 64 do not have a pension and no money in a 401(k) retirement accounts. According to a recent Gallup survey, it found baby boomer respondents indicated that retirement age plans are…
Social Security’s cost-of-living adjustment (COLA) for 2019 will be 2.8 percent
The Social Security Administration announced today that 63 million beneficiaries, including retirees, disabled workers and their eligible dependents and surviving family members, will receive a 2.8 percent increase in benefits next year, the largest annual cost-of-living adjustment since 2012. The increase would…
Before you file for your Social Security benefits early, think about what you’ll be giving up
The average senior today collects roughly $1,400 a month in Social Security, but if you’re not smart about when you file for benefits, you could end up with a lot less. Although your benefits themselves are calculated based on your…
How the Retirement Enhancement and Savings Act of 2018 will help employees of small businesses
Many economists believe that America is in the midst of a financial crisis – a retirement savings crisis. Despite all the positive economic news, statistics show that 14 percent of Americans have no money saved for retirement, while another 42…
Working Longer May Not Be the Answer
The retirement savings dilemma seems to be one of the most enduring topics covered in media outlets these days. From those approaching retirement with meager accumulated wealth to those forced out of careers just as they entered the “wealth accumulation”…
What if Social Security paid “lump sums” to entice people to defer benefits?
This is a fascinating article written and based on research by Olivia Mitchell, a Wharton professor of business economics and public policy. First, Social Security is facing insolvency by 2034, meaning it will no longer be able to pay benefits in full…
Social Security and Age 62: Three Things to Know
It is literally one of the most important decisions one can make in retirement, and perhaps even in one’s lifetime– when to take Social Security benefits. Imagine realizing years after electing to receive a monthly Social Security payment for life at age…
Brace for the all important COLA announcement October 11
Over 62 million people receive Social Security benefits, of which more than 43 million are retired workers. Over 60 percent of retirees are reliant on Social Security for a majority of their monthly income, and 1/3 depend on their checks for virtually all of their income (90…