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Social Security and the Debt Ceiling
At this point in the midterm election process, we still don’t know the composition of the incoming Congress, but one group has weighed in clearly on what should be considered to honor the Biden Administration’s commitment to “protect Social Security.”…
Clarifying the Driving Force Behind the Huge 2023 COLA
Despite claims to the contrary, the 8.7% cost-of-living adjustment (COLA) arriving in seniors’ January payments is not a positive result of any governmental action taken on their behalf. Quite the opposite, given the simple math that produces the annual COLA.…
“Crystal balling” on Social Security’s Future
Motley Fool contributor Matt Frankel, CFP, takes a look into the future of Social Security in a video posted on tulsaworld.com, sharing his views on the myth that the program is on a trajectory to being broke in just over…
Decisions, Decisions. There are many when to comes to retirement planning, but two stick out as key.
Perhaps the most important decision you’ll need to make is the most basic of all…when should I pull to plug (so to speak)? Your age is one of the key determining factors in calculating your Social Security benefit, and you…
“Phasing” Into Retirement: One Way to Make the Transition Easier
Even though many of us (maybe most of us?) have dreamed about reaching the “golden” years of retirement, actually reaching that mile marker often results in some trepidation. For example, there’s the financial aspect of stepping away from full-time earnings,…
A Review of Social Security Changes for 2023
2023, like most years, will see a number of significant changes, beginning with the much-heralded cost-of-living adjustment (COLA) slated to take effect in January. The gobankingrates.com editorial staff, in a post on their website, outlines the basic changes set to…
Veterans and Active Duty Military Members: Social Security Has Your Back!
Every year on Veterans Day, we honor the people who risk their lives to protect our country. Our disability program is part of our obligation to wounded warriors and their families. Social Security is an important resource for military members…
The True Meaning of Social Security as an Earned Benefit
The term “entitlement” is continually thrown around to describe the financial return to workers and dependents when their entry into Social Security beneficiary status occurs. Unfortunately, “entitlement” has a connotation in the popular world that tends to diminish the fact…
Determining When to Take Benefits…the Importance of Considering Longevity
So much has been written and espoused by financial pundits about the obvious math around delaying Social Security benefits until age 70. But, does the math work for you? Maybe, maybe not, as explained in a post by The Motley…
Timing Your Benefit Filing: Does the Effective Date for the COLA Make a Difference?
If you’re eligible for Social Security and on the fence about when to file to ensure you receive the full benefit of the 8.7% COLA slated for 1/1/2023, you may be wondering about the timing. The Motley Fool’s Kailey Hagen,…