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Retirement Planners: Three things to be aware of that could reduce anticipated benefits
Many folks tend to make the mistake of assuming that the benefit amount reported to them on Social Security statements is a constant. Unfortunately, there are a few things that can cause that benefit amount to be curtailed, so it’s…
More on the 2023 COLA Watch Front
CNETY writer Dan Avery, in a post on their website, offers a confirmation of the expectation that October 13 will be the announcement date for the January 2023 cost-of-living adjustment for Social Security beneficiaries. And, while discussion 8.7% as the…
The Sobering Impact of Inflation on Retirement Plans
The economic deterioration we’re all experiencing these days is having a profound impact on so many, and especially on those already trying to keep their head above water as they struggle in retirement. But beyond that, inflation is having a…
Thoughts of Fighting Social Security Fraud
Hardly a day goes by that you don’t see a news item about a fraud situation involving Social Security, either a prosecution story or a victim’s tale. Many shrug it off, thinking it’s just a way of life when there’s…
Highlighting the Importance of the “When to File” Decision
Ryan Thacker and Tyson Thacker of B.O.S.S. Retirement Solutions offer, in a post on KSL.com, thoughts on how the decision of when to begin drawing Social Benefits can affect your financial picture. (Read the post here). Their post stresses that…
2023 COLA Watch: October 13 is the Date to Expect an Announcement
The numbers are still being kicked around, fueled by persistent inflation measurements and articles about rising costs in most areas of the economy. But how will all that relate to the Social Security cost-of-living adjustment for 2023? For the next…
Senate Hopeful Advocates for Major Changes to Social Security and Medicare
Mike Franken, Democrat candidate for the U.S. Senate in Iowa, on Monday announced several substantial changes he would advocate for in Social Security and Medicare. Specifically, his position is that the cap on earnings subject to payroll tax should be…
Sage Advice: Keep An Eye on Your Earnings Information
Mistakes do occur. After all, the passage of earnings information from the Internal Revenue Service (IRS) to the Social Security Administration involves a fair number of moving parts, and the passage of information from employers to the IRS in the…
The Magic Formula for Answering the “When to Retire” Question
The sad truth is that there really is no such “magic formula,” at least according to an article by Alyssa Place, Executive Editor at benefitnews.com. As explained in her article, the key to answering the question for most people lies…
A Quick Review of How Retirement Benefits Are Calculated
It’s somewhat of a mystery to many folks, and especially to those who have not focused on how their Social Security benefit has been (or will be) calculated. And while it may seem a bit complicated, here is a logical…