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Learn more about Medicare and determine the type of coverage you’ll need
Medicare is an essential health insurance program serving millions of Americans; it is the second largest program in the federal budget. With all the money spent on Medicare, a total of $917 billion in 2020, Medicare only covers specific services…
How COLAs increase your future Social Security
With all the talk of a record high cost-of-living-adjustment (COLA) for 2023, many people near retirement are wondering if they should file for their Social Security benefits to take advantage of this increase. You want to make the right decision;…
You earned it, you keep it
Is there a possibility of seeing another increase in your monthly Social Security check besides a hefty COLA increase? What is it? According to the Social Security Administration, around 56 percent of recipients pay federal taxes on a portion of…
A Peek into the future of Social Security payments
Mike Obel states that by looking at historical data on annual hikes in Social Security payments, the average monthly payment for retirees by 2030 is expected to have climbed to $2,112, according to an analysis by Better Benefits Guide. Obel explains…
3 Groups of Retirees Who Might Qualify For Bigger Social Security Checks
According to a 2022 survey from the Nationwide Retirement Institute, just about half of U.S. adults say they know how to maximize their monthly Social Security checks. While working 35 or more years and waiting until age 70 are the…
Don’t Forget State Income Taxes on Social Security
Social Security benefits are taxable, much to the chagrin and astonishment of those who collect them. Federal brackets have not been indexed to inflation since thresholds were set in 1993, but in this piece, Kailey Hagen lists the 12 states…
Big expected Social Security raise is a mixed bag
Maurie Backman notes the danger of trying to retire on Social Security alone, when benefits only replace a scant 40% of pre-retirement income. Cost of living adjustments (COLAs) paid out new year in January are supposed to protect buying power.…
Best U.S. Cities to Retire
Since one only has limited control over how much Social Security they will get, where to reside in retirement is something that must be planned. This CBS story uses research from WalletHub, which based its ranking on more than 45…
Know these 3 Social Security Rules
Social Security is a complex program with thousands of regulations. But Maurie Backman’s article here breaks it down to three things all should know. First, you get one do over. But that must be within one year of filing. Second,…
Social Security Surprises – 15 to Know
Christy Bieber’s article here is a slide show of 15 things to know about Social Security. A caption explaining each point provides a good explanation. The first and last points are especially important: the program only replaces 40% of pre-retirement…