Headlines
Biden’s 2023 budget on Social Security- more for field offices; nothing on solvency
Lorie Konish of CNBC writes about president Biden’s 2023 budget as it pertains to Social Security. It includes $14.8 billion for the agency that administers the program, a 14% increase over 2021. Most of the new funding is for service…
Inflation Poised to Give Social Security Recipients Huge 2023 Boost
It’s what all people are talking about–inflation. It hurts, and those on fixed incomes bear the brutal reality that they have no way to augment their incomes. No extra shift to pick up. No overtime. Their checks are the same…
Medicare vs. Medicaid: The Difference
They have similar names, and are often confused with each other, but Medicare and Medicaid are two different healthcare programs targeting two different segments of the American population. Basically, Medicare is the nation’s healthcare program for senior citizens age 65…
The Insidious Effect of Inflation
Inflation has soared in the last 12 months, clocking in at nearly 8% by the end of 2021 and, according to most economists, heading for 10% or more this year. What that means, of course, is that we are all…
When Will the 2022 Social Security Trustees Report be Published?
In a somewhat scathing letter to Treasury Secretary Janet Yellen, Republican members of the Senate Finance Committee and Subcommittee on Social Security have requested an update on Social Security’s financial condition and, specifically, information on when the 2022 Trustees Report…
Do You Get The Maximum Social Security Benefit?
You probably don’t get the maximum monthly Social Security benefit. or anywhere near it, because it is somewhat of a theoretical number. That maximum benefit is only possible if your lifetime earnings for at least 35 years were more than…
About Fixing Old Social Security Grudges
In his inimitable fashion, retired Social Security employee and current Social Security columnist Tom Margenau writes about those who have been collecting Social Security benefits for many years, perhaps decades, living with a belief that they’re not getting the right…
Women in Retirement: Dealing With the Financing Gap
Statistics published by the National Institute on Retirement Security indicate that the gender gap in financial preparedness for retirement remains a concern for women. J.P. Morgan Wealth Management’s Alison Cenname assesses the impact of this disparity in an article posted at…
Life Expectancy Declines and Social Security Solvency…Is There a Connection?
The Centers for Disease Control and Prevention (CDC) reports on their website that life expectancy for the U.S. population in 2020 was 77.0 years, a drop of 1.8 years from the previous year. This raises somewhat of a question regarding…
Weighing the pros and cons of working in retirement
It is unclear whether the pandemic-induced increase in retirement among older adults will be temporary or longer-lasting. The Bureau of Labor Statistics suggests it will be temporary. BLS projects large increases in labor force participation among older adults from 2020…