Latest News
The (In)adequacy of the 2024 COLA Increase
The forthcoming 3.2% Cost of Living Adjustment (COLA) to everyone’s Social Security benefit was announced, with great fanfare, in October. However, the news was received with a rather dull thud by seniors still struggling with the effects of soaring inflation…
Medicare Advantage Under Scrutiny
No doubt that Medicare Advantage plans have greatly increased in popularity over the years, to the point that about half of all seniors over age 65 an over have eschewed “traditional Medicare” federal government coverage to, instead, take advantage of…
Income Taxes, COLA, and Social Security
With much fanfare, media pundits trumpet the news of the forthcoming 3.2% Cost of Living Adjustment which will appear in everyone’s Social Security benefit starting in January. But, how will that additional money affect your income taxes, and how much…
Social Security Spouse Benefits – the basics
There are many misunderstandings about Social Security’s spousal benefit option, the most prevalent of which is that a spouse is always entitled to 50% of the other spouse’s SS benefit. While it is possible for one spouse to get half…
Social Security’s “Ticket to Work” Program for the Disabled
Most American workers know that Social Security has a disability option, known as “Social Security Disability Insurance,” or simply “SSDI.” SSDI provides benefits to workers who become disabled for a long period (at least one year), helping them through a…
Social Security: Consistent for Decades!
We see a lot of articles, as we finish out this year, about the changes on deck for Social Security in 2024. Largely, those articles discuss standard adjustments such as next year’s inflation-based Cost of Living Adjustment (COLA), or dollar…
Is fear of Social Security bankruptcy keeping you in a high stress job?
Media editors know that controversy entices readers, so are happy to promote narratives which grab your attention. After all, readership is king! And that is apparently working well when it comes to stories which predict the demise of Social Security,…
Social Security in 2024: Changes Coming!
Actually, Social Security changes every year, as Cost of Living Adjustments (COLA) are applied to payments, and as changes occur to the government’s National Average Wage Index. The former is driven by inflation as measured by the Consumer Price Index,…
Can You Get the Maximum Social Security Benefit?
It isn’t impossible, but you probably cannot get the maximum possible Social Security benefit. Why? Because three things must be in perfect alignment for that to happen: 1) you must contribute to Social Security from your work earnings for at…
“Clawback” of Social Security Benefits Still a Muddy Picture
The term “clawback” is used to describe how Social Security demands repayment of improperly paid benefits – they “claw back” money already paid out. The term is sometimes used to describe how SS automatically takes back benefits paid for the…