Latest News
A new proposal to solve Social Security insolvency
In an op-ed published Tuesday for The Washington Post, Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed creating an additional investment fund for the Social Security Trust fund. “We propose creating an additional investment fund — in parallel to…
Should you have an emergency fund in retirement?
We have all heard from financial experts that we need an emergency fund equal to at least six months of our working salary, but what if you are retired? Life happens, things break, people get sick, and you find yourself…
Estimated 2026 Part B premium
Most of us did not read the entire 267 pages of the 2025 Medicare Trustees report. If you did, you would already know that the Trustees are projecting the 2026 Part B premium to be $206.50, an 11.6 percent increase.…
Social Security Achieves Key Milestones in Customer Service Transformation
The Social Security Administration (SSA) announced significant progress in its ongoing efforts to improve customer service while handling record transaction volumes. Some key milestones include the completing over 3.1 million payments to all who were entitled under the Social Security…
Some reasons why you may want to start early
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But if you delay taking your benefits from your full retirement age up to 70, your…
Americans underestimate the cost of long-term care
Medicare and most health insurance, including Medicare Supplement Insurance (Medigap), don’t pay for long-term care. This type of care (also called “custodial care” or “long-term services and support”) includes medical and non-medical care for people who have a chronic illness…
You can retire on less than $1 million
Not every soon-to-be retiree will have $1 million saved, but that does not mean you cannot retire. You will need to plan a reasonable monthly budget, maximize your Social Security benefits, and create a drawdown strategy. It sounds very daunting,…
Are you five years out from retirement?
How close are you to retirement? Are you planning to retire in the next five years? If so, you still have time to finalize your retirement plans. You may need to assess your financial situation, create a retirement budget, and,…
Will the 2026 COLA be accurate?
How the cost-of-living adjustment (COLA) for Social Security benefits is calculated is not as straightforward as you may think. First, they only use the data from the third quarter of the year, specifically the Consumer Price Index for Urban Wage…
Never Worked? You May Still Be Eligible for a Social Security Benefit.
There are circumstances when someone that never worked may still be eligible for a Social Security benefit. The most common one is a spousal benefit (ex-spousal benefits if married at least 10 years). You can receive a Social Security benefit…