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Is Social Security Your Only Income?
If Social Security is your only retirement income, you may be eligible for other assistance. If you are disabled or do not qualify for Social Security, you may qualify for Supplemental Security Income (SSI). SSI is not Social Security, but…
Did you work in a position that didn’t pay into Social Security but paid into Medicare?
There are still thousands of eligible widows and divorced spouses who have not claimed spousal or survivor benefits. In 2025, Congress passed the “Social Security Fairness Act,” which overturned the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).…
Seniors in Retirement: Who Depends on What Income Sources?
Household income for retirees includes a small variety of sources, from 401(k) withdrawals to defined benefit plan proceeds to personal savings. and of course Social Security. The proportions of each are often measured to assess how an aging population is…
Measuring Social Security Dependency Among Retirees
We’ve all seen the statistics. How many senior households depend totally on Social Security benefits to survive, how many are partially dependent, and so on. These statistics are referenced repeatedly in articles addressing the need for systemic changes and are…
Medicare Advantage Alert: Bill Introduced to Ban Prior Authorization Requirements
In a legislative move to eliminate administrative delays in obtaining medical items and serrvices via Mexicare Advantage plans, two congressional representatives–Ro Khanna (CA-17) and Pramila Jayapal (WA-07)–have introduced the Stop Deadly Denials Act. The bill is co-sponsored so far by…
Warren Buffett on Social Security Reform
One of the financial world’s most seasoned icons is on record with opinions on key changes that should be considered to address Social Security’s insolvency. These opinions were recapped in a recent post by The Motley Fool contributor and Certified…
Claiming Benefits Mid-Year? If Continuing to Work, Check Out the Special Earnings Limit Rule.
Social Security regulations stipulate that upon beginning retirement, spousal, or survivor benefits, beneficiaries are considered “retired” and expected to leave the workforce. Current regulations allow continued earnings from employment for those who claim benefits before their full retirement age (NRA),…
Dealing with IRMAA: Some Financial Management Suggestions
Becoming subject to Medicare’s income-related monthly Adjusted amount (IRMAA) provision can be an unwelcomed surprise. Although it’s been in place since 2003, this portion of the Medicare rulebook still catches some off guard, and the resulting impact on Medicare costs can…
Approaching Retirement? Advice for that First Year’s Spending.
If you’re on the cusp of retirement, congratulations on reaching that significant milestone. Be aware, however, that you’re entering somewhat uncharted waters regarding your financial situation, since your income stream has changed and your spending patterns will likewise shift. Just…
Thoughts on Protecting Yourself from Identity Theft
Cybercrime is a fact of life, and has been for many years. Last year, for example, seniors were victims of criminal acts that averaged $38,500 each, according to a recent Money.com post by finance writer Marc Guberti. Retirees are often…