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Avoid these common Social Security missteps
Social Security is the largest government agency, with over 65 million Americans receiving Social Security benefits each month as of August 2022. Like most programs administrated by the federal government, there are rules and exceptions to those rules that make…
Some core tenets of the bill to bolster Social Security
If Social Security 2100: A Sacred Trust becomes law, it will expand the Social Security program. The Social Security program has not changed or expanded benefits for almost 51 years, and many Congressional representatives believe it is time. John F.…
Will working after I retire increase my benefits
A recent reader of MarketWatch asked if they returned to work full time after retiring, could their earnings increase their Social Security benefit? They also asked if they have the option of not paying into Social Security anymore. Jim Blankenship, a…
Medicare Enrollment Protection Act of 2022
If the Medicare Enrollment Protection Act of 2022 becomes law, it will change how Medicare treats COBRA coverage. If you leave your employer and decide to retain your employer’s coverage for a year through COBRA, you could have possible Medicare…
A few ways to boost your Social Security benefits
You can begin your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to…
A brief look at spousal benefits
A spouse can choose to retire as early as age 62 but doing so may result in a benefit of as little as 32.5 percent of the worker’s primary insurance amount. But what if you never paid into Social Security;…
How much will Social Security benefits increase in 2023?
The Social Security Administration will release the 2023 cost-of-living-adjustment (COLA) on October 13th. Many experts are projecting that it will be the largest increase since 1981. The COLA has only gone above 7 percent five times since 1975. So, what…
What is a Safe Harbor 401(k)
According to research by Guideline, 90 percent of the 5.8 million small businesses in the United States do not offer employees a retirement plan. So, of the 42 million people working for a small business, 75 percent don’t have access…
Simpler ways to increase your benefits
Social Security benefits are much more modest than many realize; the average Social Security retirement benefit in January 2022 was about $1,614 per month. The maximum Social Security benefit in 2022 was $4,194 per month; however, only a fraction of…
Taxes can take a significant bite out of your nest egg
There is one area most retirees miss, and that’s taxes. Taxes can take a significant bite out of your retirement savings and investment income from a taxable brokerage account. However, you can have tax-smart investments and retirement accounts to reduce…