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A comfortable retirement is not all about the money
Experts remind us that to have a comfortable retirement, you need to have saved at least $1 million, but is that all it takes to have a comfortable retirement? Some experts forget that your lifestyle plays an important role in…
The latest estimate of the 2027 COLA
The Social Security COLA is an annual Cost-of-Living Adjustment designed to ensure that benefits keep pace with inflation. The Social Security Administration uses inflation data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The formula…
Medicare Part A trust fund depletion date
Medicare Part A hospitalization trust fund will be depleted in 2033, according to the 2026 Medicare Trustees’ report. However, the Medicare Part A hospitalization insurance program should generate enough ongoing revenue to pay about 89 percent of the promised benefits…
Simple solutions for regaining financial stability
The latest report from the Transamerica Center for Retirement Studies reports that over 50 percent of retirees say they left the workforce sooner than planned. Even if you retired early by choice, there may be consequences that you were not…
Social Security Board of Trustees: Projection for Combined Trust Funds Remains Consistent with Prior Year
The Social Security Board of Trustees yesterday released its annual report on the financial status of the Social Security Trust Funds. The combined reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected…
The results of claiming Social Security early
You can start receiving Social Security retirement benefits as early as age 62, but doing so reduces your monthly payment for life. Although the reduction is permanent, age 62 is still the most popular age to start Social Security benefits.…
The risk of underspending in retirement
Recent surveys indicate that 58 percent of seniors worry their money won’t last through retirement, and nearly two-thirds of Americans are more concerned about running out of money than dying. However, financial advisors caution retirees not to overcompensate by underspending.…
The consequences of Social Security insolvency
In 2025, about 69 million Americans (one in five) receive Social Security benefits each month, totaling roughly $1.6 trillion in annual payments. This includes retired workers, disabled workers, survivors, and their dependents, who would be affected if the Social Security…
Do you really need $1m to retire in comfort?
We have all seen headlines stating that to retire comfortably, you need to have saved more than $1 million, but is that true? For most of us, that figure is not attainable, but that does not mean you cannot retire…
Replacement income Social Security will give you
Most financial experts suggest you should aim to replace 70 percent to 85 percent of your pre-retirement income. However, many people overlook the effect Social Security will have on their retirement income. Maurie Backman, writing for The Motley Fool, explains…