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COLA added 46% to your benefit. How’s that working for you?
Social Security’s annual Cost Of Living Adjustment, or COLA, has boosted your monthly benefit amount by 46% since the year 2000. COLA, of course, is Social Security’s way of making your benefit payment keep pace with inflation, but unfortunately most…
When to take Social Security? “It depends”
Ask anyone who advises on Social Security matters and they’ll tell you that the question of when to start benefits is always among the top three most frequently asked inquiries. Though many are looking for a simple answer, reality is that in just…
Future retirees fear Social Security’s demise
In most surveys taken of younger workers – particularly milliennials and Generation X – many respondents are pretty well convinced that Social Security won’t be there for them when it’s time to retire. And even among the so-called baby boomers, many…
Your retirement? Here are some things you should know
In this Forbes article by columnist Elizabeth Bauer, the author boils down the myriad of things you should know about retirement and about Social Security to six fundamental components. This is especially timely because a recent poll revealed that only about 2% of…
These costs have seriously weighed down seniors
Over 60 percent of aged beneficiaries are currently relying on the program to provide at least half of their income according to the Social Security Administration. But despite helping seniors, Social Security is also letting them down. According to a…
Understanding your Medicare options
Medicare, probably the most popular healthcare plan in America, is something you start thinking about as you approach the eligibility age of 65. Problem is, Medicare isn’t a simple program to figure out, and deciding how to set up your…
Congress’ dilemma: How to fix Social Security
In this Motley Fool article by Sean Williams, the author explains why the Social Security financial dilemma exists in the first place and then describes how a divided Congress seems unable to develop a compromise solution that will solve the…
Social Security’s financial woes: Here’s how you can protect yourself
It’s no secret by now that Social Security has some financial issues which, if not addressed by Congress soon, will eventually have an impact on your Social Security benefits, but with the political climate existing in Congress today it’s hard to…
Understanding Social Security’s three funding mechanisms
Social Security Administration finds that more than 3 out of 5 current retirees count on their Social Security benefits for at least half of their monthly income. In a separate analysis from the Center on Budget and Policy Priorities, they…
Four categories of aged Americans who will never receive a Social Security benefit
As of the June snapshot from the Social Security Administration, some 62.5 million people were receiving a monthly benefit. But, not all older Americans will be able to collect a Social Security benefit. Social Security is often referred to as…