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How Has Inflation Affected You?
It’s pretty hard to ignore the fact that just about everything costs more these days than just a couple of years ago. With inflation hitting over 9% last June and remaining painfully high since, it only takes a trip to…
Ready to Claim Social Security? Read This First
Deciding when to claim Social Security should always be done after carefully evaluating your specific personal circumstances. Easy to say, but far too many who become eligible for Social Security claim simply “because it’s there” without fully understanding the consequences…
Recession ahead? 2024 COLA Will Be Affected
Many pundits are suggesting that the American economy is headed for a recession in 2023, and the economic downturn would likely cause inflation to fall dramatically in the latter part of the year. So why will that affect next year’s…
Deciding When to Claim Social Security: A Decision To Avoid Regretting
Deciding when to claim Social Security isn’t – and shouldn’t be – an easy thing to do. When you finally decide, it’s important that you are comfortable with your decision and the best way to do that is to carefully…
Medical Test Cost Depends on Where You Get It
A little known fact about healthcare costs – a medical test administered at your doctor’s office facility costs less than the same test administered at your local hospital. That’s because Medicare payments for those services aren’t “site-neutral.” In other words,…
Surprise!! Your Social Security Benefits May Be Taxable
Many a new Social Security beneficiary finds a surprise when they first file their Federal income tax the following year – Social Security benefits received during the tax year may be included as part of their overall taxable income. And,…
Must Everyone Pay Social Security Taxes?
Well, nearly all working Americans are required to contribute to the federal Social Security program from their earnings, up to the payroll tax cap each year. There are some exceptions – most notably those who work for a State or…
Will Social Security Go Bankrupt?
Well, the short answer is no – Social Security cannot go bankrupt and not be able to pay benefits as long as there are American’s working and contributing to the program. However, that doesn’t mean that the program is on…
Confused About Medicare? Here Are the Basics
If you’ve ever waded into the world of Medicare, you have undoubtedly found that it can be exceeding complicated and highly confusing. The various “Parts” of Medicare each have a different purpose providing different levels of healthcare coverage, using terms…
Social Security and the Debt Limit Fight
There’s been quite a bit of back-and-forth about the upcoming negotiations on the federal debt ceiling, and much of it had to do with whether or not Social Security (and Medicare, for that matter) were factors in the arguments. In…