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Working in Retirement – A Growing Trend
Retirement dreams once consisted of lolling away the days in a hammock, sipping a cool beverage, without a care in the world and, I suppose, some dreams still hold that image. But the reality of retirement life today is frequently…
2024 COLA to be announced soon
In about 2 weeks, the government will announce the 2024 Cost of Living Adjustment (COLA) to be given to all Social Security recipients effective with their December SS payment (in January). Most pundits are forecasting a raise of about 3.2%,…
Know your Full Retirement Age for Social Security!
A somewhat stunning revelation in this Motley Fool article reveals that about 87% of American adults do not know their correct Full Retirement Age (FRA) for Social Security. And what’s even more disturbing is that those who guess at their…
“Social Security’s in trouble; we are in trouble”
It’s pretty well known that Social Security’s Trust Fund reserves are predicted to run dry in about 2033, necessitating an across the board benefit cut of over 20%. “Across the board” means cuts for everyone, an ominous scenario which should…
The “Ins and Outs” of Social Security Disability
Social Security Disability Insurance (SSDI) is simultaneously a program crucial for American workers and also one of the most confusing of all Social Security benefits. The eligibility criteria are necessarily strict, and largely dependent on the severity of your disability…
Medicare “Open Enrollment” Starts Soon. Know Your Options!
Medicare’s so-called “Open Enrollment Period” starts soon – specifically on October 15th – and lasts until December 7th. This is the period each year when you get to change you current Medicare selection to another plan better suited to your…
Social Security Changes– Current & Future
Social Security undergoes yearly changes automatically, most tied to inflation. A cost of living increase is granted, and more income becomes taxable. Those changes and a few others like how much one can earn and still collect benefits are tied…
COLA Watch for 2024
Everyone’s waiting with bated breath for the cost of living adjustment (COLA) to be announced around October 12th or 13th by the Social Security Administration. The expected amount will likely seem paltry compared to 5.9% in 2022 and the 8.7%…
The Argument for Claiming at Age 62
Few experts advise beginning Social Security benefits at age 62 because they are smallest monthly benefit for life. Yet, a majority do claim then or just after that age. Stefon Walters explains there may be times when that is warranted.…
How to Cope With the Smaller 2024 COLA Coming
One thing is for sure. The 2024 cost of living adjustment (COLA) will be far more than half as much as the 8.7% rate granted in January 2023. What to do? Maurie Backman explains what cooling inflation means for the…