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“Phasing” Into Retirement: One Way to Make the Transition Easier
Even though many of us (maybe most of us?) have dreamed about reaching the “golden” years of retirement, actually reaching that mile marker often results in some trepidation. For example, there’s the financial aspect of stepping away from full-time earnings,…
A Review of Social Security Changes for 2023
2023, like most years, will see a number of significant changes, beginning with the much-heralded cost-of-living adjustment (COLA) slated to take effect in January. The gobankingrates.com editorial staff, in a post on their website, outlines the basic changes set to…
Veterans and Active Duty Military Members: Social Security Has Your Back!
Every year on Veterans Day, we honor the people who risk their lives to protect our country. Our disability program is part of our obligation to wounded warriors and their families. Social Security is an important resource for military members…
The True Meaning of Social Security as an Earned Benefit
The term “entitlement” is continually thrown around to describe the financial return to workers and dependents when their entry into Social Security beneficiary status occurs. Unfortunately, “entitlement” has a connotation in the popular world that tends to diminish the fact…
Determining When to Take Benefits…the Importance of Considering Longevity
So much has been written and espoused by financial pundits about the obvious math around delaying Social Security benefits until age 70. But, does the math work for you? Maybe, maybe not, as explained in a post by The Motley…
Timing Your Benefit Filing: Does the Effective Date for the COLA Make a Difference?
If you’re eligible for Social Security and on the fence about when to file to ensure you receive the full benefit of the 8.7% COLA slated for 1/1/2023, you may be wondering about the timing. The Motley Fool’s Kailey Hagen,…
How people should adjust their financial plans
There is no one-size-fits-all retirement advice for soon-to-be retirees, especially retiring in an economic recession. We all have watched our retirement portfolios take a dramatic dip this year, with all the markets down double-digit percentages. Trina Paul explains what soon-to-be…
How your COLA is applied
The Social Security Administration will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. The temptation to apply the 8.7 percent to your current payment is not how it works.…
You can increase your benefits with a few steps
You can begin your Social Security retirement benefits as early as age 62. If you delay taking your Social Security benefits to the age of 70, your benefit amount will increase. Since Social Security benefits are paid to you for…
Do you want to ditch your Advantage Plan?
The open enrollment period allows people already on Medicare to switch to a different plan that suits their needs better or add prescription coverage to their existing plan. Should you drop your Medicare Advantage plan and go to the original…