Latest News
Want to know your new benefit amount before your notice arrives?
(Special Notice from Social Security Administration) Starting in early December, you will be able to securely view and save your Social Security COLA notice online via the Message Center inside my Social Security. Make sure you are signed up for notifications…
4 Things to Know About Social Security Before Retirement
James Brumley lists four important things to understand about Social Security, first and foremost being it will not be a huge sum of money, as the program only replaces around 40% of pre-retirement income. The other items are these: Some…
Beware that Social Security Increase
That monthly increase coming in January could have consequences. Lorie Konish explains here that over 71 million Americans will see a 3.2% increase to their Social Security and Supplemental Security Income benefits in 2024, as announced Thursday by the Social…
Make Your Retirement Dollars Last As Long As You Do
Kate Stalter explains there is no one-size-fits-all process when it comes to answering the question of how long $1 million will last in retirement. The life expectancy of retirement money is determined by lifestyle needs, investment mix, and residence, among…
Retirement lasts longer than many think. Ignorance is costly
Daniel de Visé of USA Today highlights the point that that life expectancy rises with age. So, while life expectancy today is 73.5 years for men, 79.3 for women, an American man who turns 70 today will live to 85, on average and…
COLA of 3.2% not the only change coming for 2024
Social Security benefits will increase by 3.2% effective with the January payment as announced on October 12th. By law, the 2024 COLA is based on the increase in the Consumer Price Index for Urban Wage Earners (CPI-W) between the 3rd…
Amount needed to retire comfortably in every U.S. state
Retirees move for many reasons, with weather and family among them. But finances should count too; Mike Winters of cnbc.com has a list of what is needed to retire comfortably in each of the 50 states. The amount varies by…
Hope for the Best. Prepare for the Worst.
Selena Maranjian has a financial reality check here. She notes it’s time to brace for smaller Social Security payments in the future, as the program faces real financial challenges due to demographics. The advice also pertains to holding adequate insurance…
Taking Social Security At 62 Will Cost You
Keith Speights notes most people begin Social Security benefits at age 62 or shortly thereafter. But there is a fairly steep price to be paid for this decision. But the question is, how costly is it? Assuming a full retirement age of…
Multiple benefits to postponing retirement
Selena Maranjian argues there are numerous reasons to delay retiring, even by just a few years. Social Security monthly benefits increase a little each month that payments are deferred past age 62. But delaying retirement also means you can save…