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Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work…
A Look at Some of the 2024 Social Security Limit Changes
Potentially lost in the excitement of the 2024 COLA announcement, there are a number of limit changes ahead for Social Security participants next year. For example, there’s a higher taxable maximum for earners, along with a higher amount those filing…
Social Security Fundamentals for Those Aging In
As we’ve said many times in posts on this site, Social Security is quite complex, especially for those just beginning to take a look at how and when they should claim their earned benefits. For example, there’s the issue of…
2024 COLA: Don’t forget about Medicare premiums!
The 2024 Social Security cost-of-living adjustment (COLA) announced last week has garnered quite a bit of attention in the media, both positively (it will help beneficiaries recover some of the ground lost to inflation) and negatively (the 3.2% bump is…
Want to know your new benefit amount before your notice arrives?
(Special Notice from Social Security Administration) Starting in early December, you will be able to securely view and save your Social Security COLA notice online via the Message Center inside my Social Security. Make sure you are signed up for notifications…
4 Things to Know About Social Security Before Retirement
James Brumley lists four important things to understand about Social Security, first and foremost being it will not be a huge sum of money, as the program only replaces around 40% of pre-retirement income. The other items are these: Some…
Beware that Social Security Increase
That monthly increase coming in January could have consequences. Lorie Konish explains here that over 71 million Americans will see a 3.2% increase to their Social Security and Supplemental Security Income benefits in 2024, as announced Thursday by the Social…
Make Your Retirement Dollars Last As Long As You Do
Kate Stalter explains there is no one-size-fits-all process when it comes to answering the question of how long $1 million will last in retirement. The life expectancy of retirement money is determined by lifestyle needs, investment mix, and residence, among…
Retirement lasts longer than many think. Ignorance is costly
Daniel de Visé of USA Today highlights the point that that life expectancy rises with age. So, while life expectancy today is 73.5 years for men, 79.3 for women, an American man who turns 70 today will live to 85, on average and…
COLA of 3.2% not the only change coming for 2024
Social Security benefits will increase by 3.2% effective with the January payment as announced on October 12th. By law, the 2024 COLA is based on the increase in the Consumer Price Index for Urban Wage Earners (CPI-W) between the 3rd…