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Know your Full Retirement Age for Social Security!
A somewhat stunning revelation in this Motley Fool article reveals that about 87% of American adults do not know their correct Full Retirement Age (FRA) for Social Security. And what’s even more disturbing is that those who guess at their…
“Social Security’s in trouble; we are in trouble”
It’s pretty well known that Social Security’s Trust Fund reserves are predicted to run dry in about 2033, necessitating an across the board benefit cut of over 20%. “Across the board” means cuts for everyone, an ominous scenario which should…
The “Ins and Outs” of Social Security Disability
Social Security Disability Insurance (SSDI) is simultaneously a program crucial for American workers and also one of the most confusing of all Social Security benefits. The eligibility criteria are necessarily strict, and largely dependent on the severity of your disability…
Medicare “Open Enrollment” Starts Soon. Know Your Options!
Medicare’s so-called “Open Enrollment Period” starts soon – specifically on October 15th – and lasts until December 7th. This is the period each year when you get to change you current Medicare selection to another plan better suited to your…
Social Security Changes– Current & Future
Social Security undergoes yearly changes automatically, most tied to inflation. A cost of living increase is granted, and more income becomes taxable. Those changes and a few others like how much one can earn and still collect benefits are tied…
COLA Watch for 2024
Everyone’s waiting with bated breath for the cost of living adjustment (COLA) to be announced around October 12th or 13th by the Social Security Administration. The expected amount will likely seem paltry compared to 5.9% in 2022 and the 8.7%…
The Argument for Claiming at Age 62
Few experts advise beginning Social Security benefits at age 62 because they are smallest monthly benefit for life. Yet, a majority do claim then or just after that age. Stefon Walters explains there may be times when that is warranted.…
How to Cope With the Smaller 2024 COLA Coming
One thing is for sure. The 2024 cost of living adjustment (COLA) will be far more than half as much as the 8.7% rate granted in January 2023. What to do? Maurie Backman explains what cooling inflation means for the…
3 Social Security Moves For Those Retiring Soon
Katie Brockman’s main point here is the best Social Security strategy is to begin planning before you actually retire. First, people should check their estimated benefit amount, easily done on-line with an account. Second, decide a claiming age, which can…
Getting that Elusive Social Security Max Benefit
Everyone wants to maximize their monthly Social Security check. But claiming at 62 will never allow for that. Waiting until 70 gets one the maximum benefit they are entitled to based on a 35 year work history. Working less than…