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Social Security goes beyond simple payouts to workers
Almost 70 million people, or more than 1 in every 6 U.S. residents, collected Social Security benefits in 2022. Social Security goes beyond paying benefits to workers; it pays benefits to surviving spouses, divorced spouses, and others. However, Social Security…
The Retire Early Dream: Is it Doable?
Who among us hasn’t dreamed at some point of retiring early to a workfree and relatively stress free life? Probably most of us have, but precious few of us are able to do so, for it requires a lot of…
About Retiring Without a Huge Nest Egg
Sure, the financial experts say you should have in excess of a million dollars saved before you retire, but is that even within the grasp of most Americans? Well, judging by the fact that only 13% of people 65 or…
Social Security’s “Ticket to Work” Program – Equity for the Disabled
Social Security administers two separate disability programs – “SSDI” (Social Security Disability Insurance) which is disability insurance for working Americans who become disabled, and “SSI,” (Supplemental Security Income) which is a means-tested assistance program for disabled Americans of any age.…
About Raising Social Security’s Full Retirement Age
Social Security’s full retirement age, referred to as your “FRA,” is the age at which you get 100% of the benefit you’ve earned from a lifetime of working. Claim Social Security before your FRA and your benefit will be smaller;…
Choosing the “Best” Medicare Coverage
Here we are, already well into Medicare’s “Open Enrollment Period” which lasts until December 7th, and now is the time you should take a really good look at your existing coverage or, if you’re not yet enrolled, explore what coverage…
“IRMAA” Causes Bump in Medicare Premium
“IRMAA” is an acronym for “Income-Related Monthly Adjustment Amount” and it’s sometimes a big surprise for certain Medicare beneficiaries who have a big income bump in a prior year. The catch is that each year’s Medicare Part B (coverage for…
The Different Types of Social Security Benefits
The Social Security website contains over 10,000 pages to fully describe the various twists and turns which may affect your benefits. Workers’ benefits are different from spousal benefits, which are different from survivor benefits, which are different from children’s benefits,…
The Retirement Savings Conundrum
It’s hardly new news, but a recent survey has revealed that many people of all ages feel they aren’t saving enough, or haven’t saved enough, for their future retirement. That has been a fairly consistent survey finding for years, but…
A Historical Perspective on COLA (the Cost of Living Adjustment)
It sure gets a lot of attention in the fall of each year, especially from seniors on Social Security, but many who are affected really have no idea how the Cost of Living Adjustment (COLA) has evolved over the years.…