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Can You Live On Social Security Alone?
Unfortunately for some people, Social Security is their only source of retirement income, but it was never intended to be the sole source of retirement funding. President Roosevelt, when signing the Social Security Act into law in 1935, said that…
Social Security Constants – These Things Won’t Change
As we head toward a new year, various articles will start to appear which offer information about forthcoming potential changes to Social Security in 2024. Predictions on next year’s Cost of Living Adjustment (COLA) are already showing up, and others…
Which Medicare Plan is Right for You?
If you’re about to turn 65, you likely have been inundated with solicitations offering you Medicare-related healthcare coverage, each of which may seem attractive as advertised. Keep in mind, however, that what you are seeing is promotional material which highlights…
For Social Security: “Status Quo = Benefit Cuts”
Most Americans approaching retirement age know that waiting longer to claim Social Security means a higher benefit for the rest of their life yet, according to one study, only about 10% of Social Security claimants wait to get the maximum…
How Does a $17,400 Cut to your Social Security Income Sound?
That Social Security is facing some difficult financial issues in the not-too-distant future is getting a lot of media attention these days, likely because we’re approaching an election next year and – no surprise – election years have a way…
Navigating Social Security’s Disability Application Process
Although this article talks about applying for Social Security Disability Insurance (SSDI) benefits in New York, SSDI is a federal program and the information in the article applies equally in all U. S. states. The author’s writing style is somewhat…
Social Security’s “Compassionate Allowance List”
Stories about delays when applying for Social Security Disability Insurance (SSDI) benefits are almost legendary, with many applicants waiting up to a year to get even an initial determination. These delays are usually a result of two things – excessive…
Money Isn’t Everything – Even in Retirement
I’ve heard, perhaps for my entire life, that “money isn’t everything.” And while I know that to be true, I also know that going into retirement with a substantial nest egg is a laudable goal and a way to achieve…
Assistance for Disabled Americans
Statistically, about 1 in every 5 Americans will become disabled for one year or more before they are 65 years of age. A sad but real situation for which, fortunately, assistance is available from various sources, depending on which specific…
About Raiding Your Retirement Plan
Through diligent contributions to your 401(k) at work, you may have built up a sizable nest egg for your future retirement. And if a hardship or financial emergency arises, it might be tempting to see that money sitting in the…