Headlines
Retiring on Social Security As Your Only Income Source?
Unfortunately, many folks entering their retirement years are forced, for whatever reason, to rely totally on their monthly Social Security benefits for income. That’s not an easy thing to do, with the 2022 average monthly benefit of $1,657 ($19,884 annually).…
Who are the pandemic retirees?
Recent research by the St. Louis Federal Reserve found the “Great Retirement” trend was driven by women aged 65 and older. Americans retired early during the pandemic for many reasons, either by choice or were forced to by job loss,…
Changing to the CPI-E may not necessarily increase the COLAs beneficiaries see
The U.S. Bureau of Labor Statistics latest report states, “Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment; the largest 12-month increase since the period ending June 1982.” However, the Social Security cost-of-living adjustment…
Did more older workers retire during the pandemic?
Did the COVID-19 pandemic increase older workers claiming their Social Security benefits? The researchers at the Center for Retirement Research (CRR), using the Current Population Survey (CPS), found the pandemic did indeed result in many job exits among older workers.…
Some changes related to Social Security and Medicare for 2022
As the new year begins, there are some changes you should be aware of related to Social Security and Medicare. If you are receiving Social Security benefits, you will receive your 2022 cost-of-living adjustment; however, that increase is offset by…
Reviewing your retirement plan for 2022
It’s the beginning of a new year which is an opportune time to review your finances including, your retirement savings strategy, and make the necessary changes. What changes should you be looking to make? Maybe you received a raise in…
The Ultimate in Retirement Savings Isn’t Social Security. It’s an HSA!
Kevin Webb of Kiplinger states that health savings accounts (HSAs) are the best deal out there for anyone saving not just for health expenses, but for retirement as well. The accounts are available for people who are covered by a…
Social Security Benefits Might Get Cut Early
That Social Security benefits will be cut across the board for all recipients in just over a decade is not even news any longer, though lay citizens may not have been paying attention to these warnings that have been coming…
Boosting Social Security Benefits
A cursory on-line search on any day will yield a plethora of articles on how to increase your Social Security benefits. Some unscrupulous types will even try to charge for their advice. In almost all cases it comes down to…
What To Expect From Social Security in 2022
As the new year rings in. the main headline for months has been the big 5.9% increase to monthly Social Security payments. As John Csiszar of Yahoo Finance notes, it is indeed the biggest one-year hike since the 11.2% increase…