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Retiring With Young Children
You are eligible for extra monthly income when filing for retirement while still raising young children, up to 80% more. This full amount is the family maximum payment and cannot be exceeded, rather it is divvied up between all eligible…
Arguments Against Raising the Retirement Age
As the 2016 election cycle approaches, candidates are becoming more and more vocal on their suggestions for addressing the Social Security solvency issue. One of the frequent points discussed in these solutions is the raising of the full retirement age…
Obama Talks Social Security
Obama showed concern for the millions affected by the recent ruling of there being no COLA increase for the next year. He has been talking with congress about a possible change to resolve this issue, saying that the consequences were…
Officially no COLA Increase for Social Security in 2016
For only the third time in the last four decades, Social Security benefits will not be receiving an increase in pay outs. This is because of the most recent government review of the measure of inflation in the last year,…
Investments Compared Across Generations
J.P. Morgan Asset Management recently released a new paper detailing the differences between investments and financial situations across the Baby Boomer generation and Generation X. The paper goes over how investment choices have differed through the generations and how the…
Cost of Fuel Impacting Social Security Benefits
Thursday, October 15, will be the day that the government announces the annual Cost of Living Adjustment (COLA) that decides whether benefits will increase for Social Security payouts for the next year. Economists are predicting that there will be no…
Reflecting on the Impact of a Zero COLA Increase
According to most media reports, the expected decision to not award a cost of living allowance (COLA) increase for seniors this year is largely the result of falling gas prices. From the perspective of current beneficiaries, though, the change in gas prices…
Is There a Retirement Savings Crisis, or Isn’t There? Economists Debate the Question
How much do you really need? And what’s the best yardstick for measuring progress toward accumulating what you’ll need in retirement? These are not easy questions to answer, and economists and financial planners are split on what to recommend. Some lean…
Avoid Panic – Know Your Social Security Options
So much of the popular press these days seems to stress the pitfalls of making the wrong timing decisions in drawing Social Security, and the reaction among many current and future beneficiaries is either despair or panic. The simple fact…
Rising Medicare Premiums a Threat to Social Security
Medicare premiums are slated to rise 50 percent next year for one third of beneficiaries. This is a threat to Social Security because it could force many retirees into applying for early benefits. This would affectively be a double blow…