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You Cannot Live on Social Security Alone
The disparity is huge – the maximum Social Security benefit for 2024 is $4,873, while the minimum 2024 SS benefit is a mere $50.90. And it sure would be a lot easier to live on the higher amount than the…
Overpayments: A Continuing Social Security Controversy
It has been widely reported that Social Security is trying to recover billions in overpaid benefits. Indeed Congressional hearings have been held with Congress drilling Social Security on the processed being used and, especially, the reasons that some benefits are…
Social Security: The power of delaying
In simplistic terms, the earlier you claim Social Security the smaller your benefit will be; the longer you wait to claim the higher your monthly payment. Reduced SS retirement benefits can be claimed as early as age 62, and your…
Social Security: How Much Will You Get?
Social Security is, inarguably, America’s most important retirement program. You work your whole lifetime contributing to the program, in return for a guaranteed income when your working days are over. And your SS retirement benefit lasts for the rest of…
The Survey Says: Save More for Retirement!
Surveys have become the standard way to determine how different groups view specific topics. As reported in this article, a recent survey found that a large majority of retirees regret they didn’t save more for their so-called “golden years.” Surprising?…
Hope for the Best; Plan for the Worst
According to a recent survey, 41% of older Americans believe that Social Security won’t exist in its current form for their entire retirement. Probably not an unusual statistic, considering the media attention lately given to Social Security looming financial issue.…
Surprise! Medicare doesn’t include Dental (and other) Coverage
The Medicare world can be a tough one to navigate, with so many different options available. There’s “original Medicare,” which is Part A (hospitalization coverage) and Part B (coverage for outpatient services). Original Medicare doesn’t provide dental or vision coverage,…
A Complex Problem: Social Security Solvency
For over 8 decades, Social Security has been paying earned benefits on time, providing a crucial source of income for eligible Americans. A Social Security payment has never been missed since monthly payments began in 1940, and a payment has…
About SS Disability and Returning to Work
Social Security Disability Insurance (SSDI) is a lifeline extended to American workers who become disabled and, thus, are unable to earn at their chosen profession. Criteria for SSDI eligibility are strict, including that the disability must be near total and…
How is the Buying Power of your Social Security benefit?
Social Security’s annual Cost of Living Adjustment (COLA) is intended to help recipients keep pace with inflation – but does it? The historic 8.7% increase in 2023 and the more moderate 3.2% COLA increase for 2024, were, without question, welcome…