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What Secure 2.0 Could Mean for Your Retirement Planning
The much-discussed $1.7 trillion spending bill signed into law in December, contained a lot of items subject to ongoing scrutiny but, for those deep into retirement financial planning, the Secure 2.0 provisions embedded in the details should be studied carefully.…
Questions About Social Security?
As always, the new year brings a spate of questions about Social Security, usually in terms of new limits going into effect. This year, of course, there’s a fair amount of interest in knowing how much of the 8.7% cost-of-living…
A Summary Look at Where Social Security Benefits Fit in Your Retirement Planning
Business Columnist Chet Osterhoudt, in an Edward Jones-written article posted today on rockymounttelegram.com, offers conjecture for those concerned about how Social Security factors into their retirement financial planning. The article confirms the program’s Trustees Report projection that benefits cut face…
New Rules for Retirement Account–A Quick Refresher
The recently-passed $1.7 trillion spending bill includes a host of big-ticket items, but one of the more obscure segments of the legislation has a direct bearing on many folks’ retirement financing strategies. If you are the owner of a 40a(k),…
Social Security’s Historic 2023 Raise is Indeed Welcome News
Katie Brockman notes seniors on Social Security will receive much larger checks starting this month, as the 2023 cost-of-living adjustment (COLA) at 8.7% officially takes effect. The COLA means the average retiree will receive around $140 more per month. Experts…
Who Contacts Social Security When a Spouse Dies?
Losing a spouse is a traumatic experience. Maurie Backman notes that with all that occurs after such an event, contacting the Social Security Administration (SSA) should be one of the the things the surviving spouse does. Sometimes, if you provide…
Three changes to required withdrawals from retirement accounts
There are Secure 2.0 changes as part of the year end omnibus bill that retirees should know about. CNBC’s Greg Iacurci focuses on changes to required minimum distributions (RMDs) in this piece. The most important is raising the RMD age…
How to Know if You’re Banking Too Much on Social Security
Maurie Backman reminds folks that Social Security should be one of several income sources in retirement. It replaces only about 40% of pre-retirement income and was never meant for anyone to live on by itself. You know you’re banking too…
What is a Social Security Payee?
Below is a recent informative post in its entirety from Stephen McGraw, Acting Deputy Associate Commissioner, Office of Strategic and Digital Communications, in a blog post on Social Security’s website: You may know someone who gets a monthly Social Security…
Four No-Brainers to Beat the Average Social Security Benefit
Robin Hartill notes surviving on the average benefit of $1,827 per month effective January 2023 yields only $21,924 a year, which is tough. However that’s the reality for those whose only source of income is Social Security. These benefits were…