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Non-Partisan GAO warns Social Security & Medicare not sustainable

The non-partisan government watchdog agency, U.S. Government Accountability Office (GAO), released a report this week requested by Senator Mike Enzi (R-WY), Chairman of the Budget Committee, and Senator Mike Braun (R-IN) warning Social Security and Medicare, among other trust funds…

Trump Will Pay This Much Into Social Security in 2020

Sean Williams reports January 2020 as being the 80th anniversary of the first check being received by a Social Security recipient.  His article here focuses on the tax cap on wages.  Payroll taxes are withheld from the first $137,700 of…

How about the 2021 COLA?

Maurie Backman notes how many Social Security recipients were less than thrilled to receive a paltry 1.6% cost of living adjustment this past January 1st.  Medicare premium further increased reduced the average $24 increase by a third.  Early estimates from…

How to Get the Maximum Social Security Benefit

Todd Campbell explains why so few people collect $3,790 per month, the maximum Social Security retirement benefit one can collect in 2020.  In short, one would have had to earn the maximum in wages every year for 35 years of one’s…

The most popular ages to collect Social Security

It’s widely know you can claim Social Security as early as age 62.  This interesting piece in U.S. News explains not only what claiming Social Security benefits at each age 62 through 70 means for the actual calculation, but it…

No pension; no savings; now what?

In today’s world, “it’s all incumbent on employees to to take care of their own retirement,” says John Laitner, a University of Michigan economics professor who also heads U-M’s Retirement Research Center.  ” We’re in a period of transition” in…

How much you will get from Social Security?

To predict one’s monthly Social Security benefit is far from an exact science, and tougher the further one is away from retirement.  But this U.S. News piece notes everyone should know the basics on how benefits are calculated and what retiring…

Why Some Seniors Shouldn’t Claim Social Security at 70

Waiting until age 70 to start collecting monthly Social Security checks will yield one the highest possible dollar amount for life.  Experts almost always stress delaying until this age if possible.  But should everyone wait?  Maurie Backman explains the virtues…

The Top Twelve 401(k) Mistakes to Avoid

In this very instructive article, Selena Maranjian of The Motley Fool explains how 401k plans can allow workers the opportunity to build tremendous wealth.  But 12 mistakes must be avoided at all costs.  Read here for more detail from the list…

Americans need to be schooled on how to build a nest egg

Maurie Backman reports on survey results from TD Ameritrade that show most adults aged 40 to 79 give themselves a C or lower on the progress they’ve made building their nest eggs.  This same survey found that 32% of Americans in their 40s…

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