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Four reasons not to take your benefits early
Many retirees are not sure when to begin their Social Security retirement benefits. If you start your benefit at age 62, you will receive a reduced amount; however, if you postpone taking your benefits from your full retirement age up…
PBMs and pharmacy closures
Those independent pharmacies, excluded from Medicare Part D networks, were more likely to close. A new research study conducted by USC demonstrated that pharmacy networks designed by pharmacy benefit managers (PBMs) are contributing to the growing problem of pharmacy closures.…
Best small town
As many individuals approach retirement, they may start looking at ways to stretch their retirement savings by relocating to another town or state where the cost of living, housing, and crime rates are lower. GoBankingRates recently released its list of…
The new Social Security commissioner
On Tuesday, the Senate confirmed Frank Bisignano in a 53-47 vote as the new Social Security commissioner. Mr. Bisignano, as the new commissioner, will be heading an agency that has been attacked by all sides for its inefficiencies. Lorie Konish,…
Original Medicare covers most but not all healthcare services
Medicare is the government health insurance program for adults 65 and older and individuals under 65 with certain disabilities. However, Medicare does have its drawbacks. Original Medicare covers most, but not all, of the costs for approved health care services…
Digital Social Security cards
The days of paper Social Security cards may be coming to an end soon. The Social Security Administration will roll out digital access to Social Security numbers, providing an alternative to the traditional Social Security cards. The Social Security Administration…
Will living five more years really deplete your savings?
With retirees living well into their 90s and beyond, millions face a growing risk of outliving their savings. Recent research by Nationwide and The American College of Financial Services found an “extra five years increases the risk of running out…
Have you saved enough for retirement?
Although Americans feel they need $1.26 million saved up to retire comfortably, most Americans between the ages of 65 and 74 have a $410,000 median net worth, according to the Federal Reserve Board’s survey. Northwestern Mutual reported that 51 percent…
Do billionaires collect Social Security?
Most of us want to know if billionaires collect Social Security. Yes, per the Social Security rules, they can collect their Social Security, but only if they pay into the system. You must pay Social Security payroll taxes on the…
Calming fears about the future of Social Security
The biggest fear among retirees is the reduction in Social Security, or the program will cease to exist, according to the Transamerica Center for Retirement Studies. This fear has led to a record number of individuals applying for their Social…