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Social Security Changes Effective Jan 1, 2024
The new calendar year is bringing with it some changes to Social Security. Though no new legislation passed to alter the law, Sean Williams notes seven important changes that happen automatically, mostly due to current law. They are: 1. Social…
Some Important Things to Know About Social Security
In 2002, then-Secretary of Defense Donald Rumsfeld issued a proclamation that has been referenced repeatedly throughout the years, and it went like this: ““[A]s we know, there are known knowns; there are things we know we know. We also know…
An Argument for Better Investment of Social Security Funds
In a post yesterday on marningstar.com, finance writer Brent Arends takes exception to how Social Security’s trust fund reserves have been invested over the years, suggesting that deploying the balance in selected U.S. stocks could have produced a return far…
Americans’ Life Expectancy Continues to Nosedive
Following a rebound uptick from the COVID pandemic, the life expectancy statistics resumed their downward trend in 2023, reports an article from the Washington Post. The article, authored by National reporter Dan Diamond, discusses the absence of collaborating political forces…
Medicare changes for the new year
January 1st is just around the corner, and many things will change, including Medicare. If you are a Medicare beneficiary or know someone who is, here are some of the changes for 2024. Bethany Cissell outlines the changes in Medicare…
Limit the recovery of overpayments
There is a new bill in Congress, H.R. 6858, which will amend the Social Security Act to limit the recovery of overpayments to a ten-year period; currently, there is no time limit on how far back they can go to…
Optimistic about the future of Social Security
Despite all the fear-mongering on social media saying Social Security is going bankrupt and will not be able to pay Social Security benefits, over half of the respondents to a recent survey said they expect to receive Social Security benefits.…
Medicare Advantage Open Enrollment starts soon
Annual Medicare Open Enrollment has closed now, so it is time for Medicare Advantage Open Enrollment. What is Medicare Advantage Open Enrollment? It is held each year between January 1st through March 31st for people with a Medicare Advantage plan…
Importance of retirement planning beyond Social Security
The average Social Security recipient received $21,924 in 2023. Social Security is the foundation of all retirement plans, but is it enough for you to survive? According to the Bureau of Labor Statistics, the average 65-year-old and older spends an…
What 2024 will look like for the average Social Security recipient
Beginning next month, over 64 million older Americans will see an increase in their Social Security benefits. The cost-of-living (COLA) increase of 3.2 percent is modest compared to last year’s 8.7 percent and a decrease in Medicare Part B premiums.…