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How scammers try to steal your Social Security Number
Do you know what is one of the fastest-growing crimes in America? Correct its identity theft, topping the list of consumer fraud reports filed with the FTC and other enforcement agencies. Your Social Security number is your identity. According to…
Things you can do to ensure you get your maximum Social Security benefit
The Social Security Trust Fund reserves are estimated to become depleted in 2033; at that time, Social Security income would be sufficient to pay 77 percent of scheduled benefits. Of course, the government can step in before 2033 and correct…
The current Medicare Advantage payment structure results in overpayments
Current research states that the millions of beneficiaries in traditional Medicare who have switched to Medicare Advantage plans have lower spending than those with similar health risks. Why is this important? CMS bases payments to Medicare Advantage health plans on…
What is the latest estimate on 2024 COLA
The Department of Labor released The Consumer Price Index for All Urban Consumers (CPI-U) numbers for May 2023, with inflation falling to 4%; this was the smallest 12-month increase since the period ending March 2021. So, what will this mean…
Minimizing the Risk of Scams for People Living with Dementia
(Source -www.ssa.gov/blog) Financial crime against older Americans is a growing problem. People living with dementia are at an especially high risk of becoming victims of fraud and financial abuse. That’s why we’re grateful for Social Security’s unwavering commitment to combatting…
Other sources of retirement income
When you start your retirement planning, most of us overlook other sources of retirement income besides our 401(k)s or IRAs. What are those other sources of retirement income? A bond ladder may be an option for you. Do you have…
The need to continuously evaluate your retirement planning
Congratulations, you are retired. No more working, planning, and saving for this day, but should you stop? Remember, retirement can last two or three decades, so it is even more important to continuously evaluate how your retirement income is working…
Lower inflation means lower COLA
2023 saw one of the highest Cost-of-living-adjustments increases since 1981. But will Social Security beneficiaries receive another significant increase in 2024? Although it is too early to calculate the 2024 COLA amount, Keith Speights suggests that retirees are better off…
Don’t wait until you’re 70 to take Social Security
Financial planners say to wait until 70 to file for your Social Security benefits. If you wait until age 70, your monthly payments will be 24 – 32 percent higher than the benefits you would have received at your full…
Social Security break-even calculation
Your Social Security break-even age can help you decide whether it is better to start collecting Social Security early or wait until later when you can receive a larger monthly payment. It is the point at which the value of…