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Three things you should know about Social Security
A day doesn’t go by without a doom and gloom article appearing on how the Social Security trust fund is going bankrupt. Yes, since 2021 the trust fund is being used to ensure full benefits and will be depleted in…
What to know about managing Medicare Part B premiums
In October, the Social Security Administration announced the 2024 cost-of-living adjustment (COLA) of 3.2 percent, with the average Social Security benefit going up $50. Later, the Centers for Medicare & Medicaid Services (CMS) released the 2024 monthly Part B premium…
The ongoing battle over Medicare and Social Security
The newly elected Speaker of the House, Mike Johnson, has stated, “The greatest threat to our national security is our nation’s debt.” The Speaker has promised to establish a 16-member bipartisan commission to examine the Social Security and Medicare solvency…
Claiming as soon as possible could hurt your finances in more ways than one
You can start your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, they are permanently reduced. Although there are times when starting your benefits at 62 is a good idea, if you…
Now is the time for many seniors to make changes to their Medicare coverage
Medicare open enrollment is happening now through December 7th, during which Medicare plan enrollees can reevaluate their existing Medicare coverage. There are several things every Medicare beneficiary can do to get in the Medicare Open Enrollment routine. Keith Speights outlines…
Stressed over money topics, try to rethink them
Today’s economic atmosphere is stressful without all the misleading or incomplete information, making it worse for most people. So, what to do about it? Russ Wiles explains how reframing or rethinking the challenges or obstacles in a different light may…
Will your COLA increase keep up with your healthcare costs?
Social Security beneficiaries will see an increase in their Social Security checks of 3.2 percent in 2024. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers…
Medicare Advantage plans offering food and produce benefits
In the upcoming plan year, 1,475 Medicare Advantage plans will offer food and produce benefits to their low-income enrollees. In the new analysis published by the consulting firm ATI Advisory, this is a two percent increase from five years ago.…
A new conflict of interest rule
The Department of Labor has proposed a new retirement rule to close governance loopholes and require financial advisers to give retirement advice in the best interests of savers and not themselves. According to the federal government, “bad financial advice by…
Immediate expenses win over saving for retirement
A new survey by the consulting firm Buck found employees would prefer a “$500 pay increase to a $500 increase in contributions made to a retirement plan.” Also, the researchers report that over three-quarters of the employees surveyed said they…