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Chance for COLA Increase in 2017
Current projections show that a .2% increase in benefits is likely for Social Security in 2017; however, there is still a month before the official announcement. This would be an average increase of $2.70 considering the median monthly benefit is…
Steps to Take for Stable Retirement
Social Security is not meant to fully fund your retirement; it is meant as a supplement. For this reason, it is important that you take the steps to ensure your own savings, especially these days as company pensions become a…
Looking at Retirement–What Scares You the Most?
While many people typically think the likelihood of exhausting one’s finances in retirement is their biggest fear, there are other concerns that tend to weigh on people as they look to their “golden years.” Morningstar.com readers were asked “What is your…
Social Security and Younger Americans
Social Security does not only cater to those at retirement age, the Disability and Survivors Benefits also help younger Americans. Many minors with disabilities benefit from Supplemental Security Income but have a hard time transitioning to adulthood. When they turn…
A Closer Look at Retirement Savings
The tone of most discussion surrounding the state of retirement saving in this nation paints a pretty grim picture. Most sources state that Americans are terrible at saving for retirement and come to rely on Social Security as their sole…
Affording Retirement
The most common advice when it comes to collecting Social Security is to wait until the age of 70 to start collecting benefits. By doing this you are ensuring that you get the maximum monthly payments. However, most cannot afford…
Baby Boomers Are Propping up the Economy
Baby Boomers are still arguably the most influential generation in America. Just looking at the current political landscape can tell you as much, where Boomers dominate in positions held in every branch of government, including as candidates for the next…
The Most Influential Factors Pertaining to your Retirement
Most choices about retirement come to a head when you reach your 60’s. At this age you start making decisions that will determine how financially comfortable your retirement will be. It is important when making retirement decisions to know how to get…
A Labor Day Primer on Savings Habits
Celebrating Labor Day gives us an opportunity to take stock on our current habits regarding savings…especially as it relates to saving for our retirement years. Chuck Jaffe of Marketwatch challenges us to do some “testing” to see how our savings…
Medical Spending a Growing Concern for Seniors
The proportion of available retirement income spent on medical necessities is looming as a major concern for America’s seniors. In fact, a study by The Senior Citizens League (TSCL) indicates that this category of spending accounts for over a third of…