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How to maximize your Social Security benefit
There’s no shortage of advice around about the importance of planning for your retirement, and the critical role that Social Security benefits should play in that plan. Sometimes the advice can seem complicated and even overwhelming, causing you to throw up your…
Want some inspiration? Here’s how to be happy in retirement.
What with increased life expectancy, improved health care and, all too often, small savings, many seniors are choosing to continue working even after they reach what Social Security calls their “full retirement age.” Enter an inspirational nonagenarian whose retirement plan…
COLA Increase: Good News or Bad News?
Sure, the tiny COLA increase announced yesterday is at least a small bit of good news. But it also indicates some positive trends that could be more good news. Conversely, the increase also means there will be a few changes to…
Social Security’s Cost of Living (COLA) adjustment
With all the news about the paltry 0.3% COLA increase to Social Security benefits in 2017, this is a good time to fully understand how COLA increases are now calculated, and what kinds of changes might result in a more…
Cost of Living Adjustment (COLA) for 2017 will be tiny
Those receiving Social Security benefits will get only a very small Cost of Living Adjustment for 2017 – 0.3%. For the average recipient, this will amount to only about a $4 increase, but don’t count on spending it. Medicare premiums…
Seniors feelings towards retirement are changing
In the early 1900’s, most people worked pretty much as long as they were able. Then with the advent of employer retirement plans and Social Security benefits, attitudes shifted to thinking about a future where working stopped and an earned life…
The Road Ahead for Social Security–A Summation of the Situation
The long-term dilemma faced by the Social Security and Medicare Trust Funds is not a self-correcting situation, and most Americans are aware of that fact. It’s been given some attention in the 2016 presidential campaign, although specific solutions have been…
Budget Deficit Widens – Social Security & Medicare Cited
Citing higher spending on Social Security and Medicare as a driving force behind America’s fiscal imbalance, Reuters Washington Reporter Lindsay Dunsmuir examines the widening 2016 budget deficit in an article posted on www.reuters.com. She observes that these programs, in conjunction with “slower-than-expected revenues,”…
The Mechanics Behind Social Security’s Trust Fund Investments
The Social Security Trust Fund subject has been the source of many rumors about fiscal impropriety, reallocation of worker funds, and so on. Author Brenton Smith, in a post on www.fedsmith.com, sheds some light on the reality behind these charges, and explains…
Understanding Delayed Retirement Credits (DRCs)
The term “Delayed Retirement Credits” is frequently explained as a great way to maximize one’s lifetime Social Security benefits. That’s a true explanation, but what needs to be clearly understood is the manner in which DRCs are calculated and applied…