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Some Broad Strategies for Your Social Security Future
There are many different viewpoints on where and how Social Security fits into individual retirement plans. Here at the Social Security Advisory Service, we field questions about these individual viewpoints repeatedly, many of them dealing with the basic question of…
2023 COLA Watch: Let’s Dampen the Enthusiasm a Bit
We’re still about two months away from learning what the January 2023 Social Security cost-of-living adjustment will be, but despite the unknowns, the airwaves are alight with wild predictions of a north-of-10% adjustment. As The Motley Fool’s Keith Speights suggests,…
A Dichotomy: Seniors are Confident About Retirement Planning, but Concerned About Reaching Goals
A recent study by Fidelity Investments (their 2022 State of Retirement Planning), produce an interesting contradiction…79% of the respondents reported they were confident in the retirement plans they developed, but a nearly equal number of respondents (71%) countered that optimism…
There’s still plenty of time for the U.S. inflation rate to change
The purpose of the Cost-of-Living Adjustment (COLA) is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. It is based on the percentage increase in the Consumer Price Index…
Don’t let these get in your way
You are planning and saving for your retirement. You are looking forward to a worry-free retirement. But some obstacles could stand in your way of achieving that carefree retirement. Maurie Backman reviews the three obstacles you might face that could…
Understanding the need for a representative payee
Social Security: Understanding the need for a representative payee. You may know someone who gets a monthly Social Security benefit or Supplemental Security Income payment and who is incapable of managing or even directing the management of their money. If…
Seniors could be in line for a very nice boost
The Consumer Price Index for All Urban Consumers was unchanged in July 2022 (seasonally adjusted) after rising 1.3 percent in June and 1.0 percent in May. Consumer Price Index unchanged over the month, up 8.5 percent over the year, in…
SNAP and Social Security
About five million older adults who qualify for SNAP (Supplemental Nutrition Assistance Program) are missing out on this benefit, according to a recent report from the National Council on Aging (NCOA). The SNAP program, formerly known as food stamps, helps…
The basics rules of Social Security
Social Security reports that 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Since Social Security plays a large role in many retirees lives, it is crucial that…
What is a safe withdrawal rate?
One fear most retirees have is running out of money in their retirement. So how do you prevent depleting your retirement funds? Brian O’Connell explains how to avoid running out of money in retirement by using a safe withdrawal rate.…