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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…
About Maximizing Your Social Security Benefit
Of course, everyone wants the maximum Social Security benefit they can get, considering their personal circumstances. But it’s the last part of that sentence that has a major influence on your ability to truly maximize your Social Security benefit –…
Inflation Have You Second-Guessing your Retirement?
Inflation certainly has it’s damaging effects. Soaring prices for nearly everything dramatically changes our financial circumstances and, very often, what suffers greatly is our retirement plan. After all, fulfilling our basic daily needs trumps saving for our future every time.…
What Will COLA Be In 2023?
As inflation soars and seniors struggle to pay their daily expenses, much of the conversation these days focuses on whether the 2023 Cost of Living Adjustment (COLA) to Social Security will come even close to offsetting higher prices. Well, since…
How Much Will Social Security Pay You?
It may sound trite, but you cannot live on Social Security alone – or, at least, you cannot live comfortably on Social Security only. Most financial experts will say that you will need about 80% of your pre-retirement income to…
Retirement During Uncertain Economic Times
Few would disagree that these are trying economic times. Inflation has hit everyone very hard, and those living on a fixed income are struggling to make ends meet, especially those who rely on Social Security for a large part of…
Insulin Out-of-Pocket Costs in Medicare Part D
(By Juliette Cubanski and Anthony Damico for Kaiser Family Foundation published July 28, 2022) Addressing the cost of insulin continues to be at the forefront of policy discussions around prescription drugs. Legislation has been introduced in Congress that would cap…
Why It’s Important to Report Life Changes to Social Security
(Source – ssa.gov) Did you know that certain life changes can affect your benefits? Sometimes your circumstances may change after you apply for or begin to receive benefits. When that happens, it’s important for you to tell us about these…