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Accounting for housing and medical expenses in retirement
Retirement planning can be exhausting. You try to predict how much money you will need in retirement; however, a few individuals forget to plan for the two of the largest retirement expenses: Housing and medical expenses. CD Moriatry outlines ways…
Social Security and taxes
If you receive Social Security benefits, do you need to file taxes? Well, that will depend on several factors, which include marital status and your modified adjusted gross income. Katie Teague and Nina Raemont will explain how you determine if…
Is Social Security COLA keeping up with inflation
The purpose of Social Security’s cost-of-living adjustment (COLA) is to ensure that the purchasing power of Social Security benefits keeps up with inflation. But does it? According to Brandon Selfors, the CEO of life settlement and Medicare insurance company Bridge,…
A Veterans guide to healthcare plans
Veterans may qualify for coverage from different healthcare plans. Some veterans may qualify for TRICARE, Medicare, and Veterans Affairs (VA) health benefits. The VA health benefits may not cover everything you need, so you should discuss with a VA representative…
Before you claim your benefits at 62
You can receive Social Security retirement benefits as early as age 62; however, you will receive a reduced benefit. Although you will receive more checks than other Social Security recipients who filed later, it does not mean you will receive…
Will these politicians help solve the Social Security insolvency
Although the leading presidential candidates have promised not to cut Social Security benefits, that does not mean other politicians agree with them. Three prominent political figures have proposed different solutions to the Social Security insolvency issue, ranging from increasing the…
Estimating the COLA for 2025
With the release of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for January, the Social Security cost-of-living adjustment (COLA) estimates have begun. The Senior Citizens League estimates it at 1.75 percent, but the Congressional Budget…
What to do if will not receive Social Security
Almost 65 million Americans received Social Security benefits in January 2024. However, about 3.5 percent of the total population aged 60 or older never receive Social Security benefits. If you are one of those individuals, there are ways to maintain…
Will you depend on Social Security
According to a recent Gallup poll on Social Security, for individuals still working, only 34 percent stated their Social Security benefits would be the major source of income in their retirement; however, almost 60 percent of the current retirees said…
The importance of starting young
If you could go back in time, what advice would you give your younger self about retirement? A recent Nationwide survey found almost two-thirds of respondents said they would start saving for retirement sooner rather than later. Why? Many people…