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Social Security Fundamentals
Although this article is written specifically for Federal employees and retirees, nearly all of the points discussed apply as well to the general senior population. The one exception is the paragraph which mentions the Government Pension Offset (GPO) which affects…
Everything You Need to Know About IRAs
The Individual Retirement Account (IRA) comes in many flavors – Traditional IRA, ROTH IRA, SIMPLE-IRA, and SEP-IRA. And how do employer sponsored plans like a 401(k) fit into the retirement panoply? Which types can reduce your taxable income, and which…
Social Security’s Online Services
Doing business online with Social Security “has never been easier” claims this blog by Social Security’s Dawn Bystry, who is Deputy Associate Commissioner of the Office of Digital Communications. And if you’ve ever tried calling Social Security for help, or…
How To Get a Higher Social Security Payment
Of course, everyone wants the biggest Social Security payment they can get in their individual circumstances, but not everyone can maximize their benefits. There are two primary things which determine how much your Social Security benefit will be – your…
Frequently Asked Social Security Questions
When it comes to Social Security, everyone’s situation is, of course, unique. But because there are over 65 million beneficiaries and millions of seniors monthly contemplating applying, the questions asked are often similar, leading to being categorized as a most…
Big COLA Coming – But You’ll Still Be Behind
Social Security’s Cost of Living Adjustment (COLA) is poised to be pretty significant for 2023, probably even more than the historic 2022 increase of 5.9%. While that is certainly good news for SS beneficiaries, the insidious effect of continually soaring…
Social Security Improving Your Online Account
Social Security’s online account access tool for individual beneficiaries is known as “my Social Security.” For some time now, “my Social Security” has been the preferred (and easiest) way for beneficiaries and future beneficiaries to access all of the information…
When Should You Claim Social Security?
That is, of course, the proverbial $64,000 question and one which most Advisors will answer with “it depends.” It depends on your current financial need, your health and life expectancy, your marital status, and whether you are still working full…
Recession on the Horizon? Here’s How to Cope
Some economists are warning that the American economy is on the verge of a recession, which would essentially be a significant downturn in consumer demand, employment and stock market performance. Although we’re not officially in a recession at this time,…
The Financial Status of Social Security and Medicare
Hyperbole abounds about Social Security’s finances and, though somewhat less, about Medicare’s financial situation. Media headlines regularly scream about Social Security “going bankrupt” and Medicare “running out of money,” neither of which are true statements. What is true is that…