Latest News
How having an HSA is a win-win situation
The experts tell us the cost of healthcare as we age will be one, if not the largest, expense in our retirement. The average couple retiring in 2022 will need over $300,000 saved after taxes to cover their healthcare costs.…
More aging workers plan to work beyond age 70
The investment firm BlackRock is reporting retirement confidence is down. Fewer individuals are on track to retire when they had planned, which is a “reversal from the last few years where confidence remained steady and even increased.” Why? “Inflation is…
Changes are coming
Yes, Social Security will change next year, but how? Currently, there are four ways Social Security will change that current and future retirees need to be aware of so they can be better prepared when making their plans for 2023.…
Don’t waste your money on these items
You have worked hard all of your life; now it is time to retire and live it up, but without proper financial planning and budgeting, certain purchases could lead to financial hardship in your later years. John Csiszar lists the…
The latest estimation on the COLA increase for 2023
The Senior Citizens League has estimated the Social Security COLA will be for 2023, based on current CPI data, is 10.5 percent. But, if the Fed is able to lower the inflation numbers, we could experience a smaller than expected…
Supercharge your retirement income by making a few simple moves
Social Security provides a foundation of income on which workers can build to plan for their retirement. However, Social Security benefits are much more modest than many people realize; the average Social Security retirement benefit in January 2022 was about…
Understanding FRA, Including its Implications
Your Full Retirement Age (FRA) is, in itself, a simple piece of the process for determining your Social Security benefit. While it’s simply a factor that’s determined by your date of birth, it also has significant consequences in determining what…
More Thoughts on Filing for Social Security at 62–The Downside
As we’ve noted several times, age 62 remains the most frequent starting point for Social Security benefits. While there are many reasons why that decision is made by so many folks, there are some downside aspects of not waiting to…
Delaying Retirement vs. Delaying Social Security–Two Separate Decisions
The most persistent question we field at the AMAC Foundation’s Social Security Advisory Service deals with selecting a date to begin drawing Social Security benefits. Sometimes the question is tied to leaving the workforce, sometimes it’s related to a decision…
Underscoring the Importance of Checking Your Information–Mistakes Do Happen
There are many reasons for taking the initiative to open a “my Social Security” account, and one of them can save you both money and headaches. As explained in a post today on wcfcourier.com by The Motley Fool’s Kailey Hagen,…