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Are you nervous about retirement?
The majority of Americans are nervous about retirement, according to the latest report from Schwartz Center for Economic Policy Analysis. The results demonstrate that the stress level of retirement differs based on age, gender, economic and educational levels. Lynn Cavanaugh…
Should couples retire together?
Married couples need to coordinate their retirement, but that does not mean both of you will retire on the same day. According to Ameriprise, only about 11 percent of couples retire at the same time, and 62 percent of couples…
What are your plans for your Social Security benefit?
In June 2024, over 67 million individuals received Social Security benefits, with an average benefit of $1,781. We know from previous studies that About 1 in 7 seniors rely on Social Security for at least 90 percent of their income.…
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Changes are coming
The Social Security Administration is changing how you access online services, including your account called My Social Security account. The Social Security Administration said they made these changes to simplify the sign-in experience and align with federal authentication standards. For…
The risk of running out of money
Inflation is putting “more retirees at risk of running out of money,” according to a recent study published by Boston College. Who will be seeing this risk? Is it the wealthy retirees or the less-than-wealthy retirees? The less wealthy retirees…
Should you go back to work if your Social Security benefits aren’t keeping up?
When Social Security recipients were asked in a recent survey if the most recent COLA increase was sufficient, 62 percent of respondents said no, and 44 percent said they were considering returning to work to boost their income because their…
Good news and bad news for retirees
What will the 2025 COLA be? We will not know until mid-October when the Social Security Administration releases the amount based on this year’s third-quarter inflation figures compared to the previous year’s. However, that has not stopped experts from estimating…
Social Security Spouse Benefits
Are you wondering when is the best time for your spouse to claim benefits? This can be a complex decision. Generally, spouse benefits are available if 100% of the lower earning spouse’s Full Retirement Age benefit is less than 50%…
Increased COLA Percentages in the Future?
There is a possibility of changing the way Cost of Living Adjustments are calculated in the future. It would depend on lawmakers agreeing to use a different method – relying on the Consumer Price Index for the Elderly (CPI-E) instead…