Headlines
2023 COLA: Not All It’s Cracked Up to Be?
If you watch the news headlines at all, you’ve no doubt heard that the Cost of Living Adjustment (COLA) for 2023 will be historically high – great news, of course, for seniors on Social Security who are struggling to make…
Pssst!! Next Year’s COLA Increase to be Announced Soon
The wait is almost over! The federal government is only days away from announcing what the Cost Of Living Adjustment (COLA) will be next year for all Social Security beneficiaries, and predictions are that it will be a substantial one.…
Social Security and federal taxes
The only difference between death and taxes is that death does not get worse every time Congress meets. – Will RogersAll of us pay taxes; it is a fact of life. Despite the rumors on social media platforms, the government…
New research: Young people should be spending their money not saving it for retirement
A recent study goes against the conventional wisdom that states workers should start saving early; instead, they should be spending their money. The study used the life-cycle model, developed in the 1950s, to suggest it is not smart to live…
The Financial Independence, Retire Early (FIRE) movement explained
On the “life events scale” used by psychologists to determine stress levels, retirement is the 10th most stressful event you can experience. According to a recent GOBankingRates survey, 66 percent of Americans fear that they will run out of money…
Perceptions vs. Reality in Retirement Planning
The newly released survey from the Stanford Center on Longevity (SCL) examined the challenges and concerns facing individuals as they plan for retirement. “So many Americans manage their finances on their own for years without any advance planning, only to then…
The Social Security Expansion Act
Without Social Security benefits, about 4 in 10 adults aged 65 and older would have incomes below the poverty line, according to official estimates based on the 2021 Current Population Survey. Social Security benefits provide at least 50 percent of…
The Nuts & Bolts of Applying for Social Security
Knowing when to apply for Social Security so your payments start when you want is an important part of your decision making process, but knowing how to apply is also important. You can apply for benefits up to four months…
Medicare Changes for 2023 – Some Good News
The Centers for Medicare & Medicaid Services (CMS) has announced the 2023 changes to the Medicare program, and the announcement definitely includes some good news – the Medicare Part B premium will be less in 2023 than it is in…
How Medicare and Medicaid Differ
Often confused due to the similarity of their names, Medicare and Medicaid are two entirely separate programs. Medicare is an insurance program for those 65 and older, eligibility for which is earned by working. By contrast, Medicaid is a social…