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Upcoming Social Security changes that could benefit some yet cost others
No substantive change in law is expected by Congress with regard to Social Security this year. Yet some changes occur automatically each January 1st, mostly as a result of inflation. Maurie Backman forecasts a robust cost of living adjustment (COLA),…
Working in Retirement? The Good and Not so Good
Stefon Walters explains that many people want to work during the first phase of retirement. Citing the statistic that $315,000 is required for a 65 year old couple to pay health expenses in retirement, one can see why many choose…
How to Obtain Social Security’s Maximum Benefit
People often wonder what the maximum Social Security benefit is. The answer is $4,194 per month for 2022. But how does one get that? Kailey Hagen notes quite truthfully that few people would ever qualify. Why? One must work 35…
Social Security’s Future Not as Bleak as May Seem
It is true that the Social Security system is under strain, as folks live longer and families have fewer children. The program’s trustees regularly note that benefits will be slashed automatically by about 23% in just over a decade. But…
Social Security Fundamentals
Although this article is written specifically for Federal employees and retirees, nearly all of the points discussed apply as well to the general senior population. The one exception is the paragraph which mentions the Government Pension Offset (GPO) which affects…
Everything You Need to Know About IRAs
The Individual Retirement Account (IRA) comes in many flavors – Traditional IRA, ROTH IRA, SIMPLE-IRA, and SEP-IRA. And how do employer sponsored plans like a 401(k) fit into the retirement panoply? Which types can reduce your taxable income, and which…
Social Security’s Online Services
Doing business online with Social Security “has never been easier” claims this blog by Social Security’s Dawn Bystry, who is Deputy Associate Commissioner of the Office of Digital Communications. And if you’ve ever tried calling Social Security for help, or…
How To Get a Higher Social Security Payment
Of course, everyone wants the biggest Social Security payment they can get in their individual circumstances, but not everyone can maximize their benefits. There are two primary things which determine how much your Social Security benefit will be – your…
Frequently Asked Social Security Questions
When it comes to Social Security, everyone’s situation is, of course, unique. But because there are over 65 million beneficiaries and millions of seniors monthly contemplating applying, the questions asked are often similar, leading to being categorized as a most…
Big COLA Coming – But You’ll Still Be Behind
Social Security’s Cost of Living Adjustment (COLA) is poised to be pretty significant for 2023, probably even more than the historic 2022 increase of 5.9%. While that is certainly good news for SS beneficiaries, the insidious effect of continually soaring…