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The top regret of retirees
What is the one thing that the majority of retirees regret? When asked in a recent survey, the number one regret of retirees was they did not prioritize saving for retirement during their younger working life instead of waiting to…
The latest on the Social Security Fairness Act
U.S. Senate Majority Leader Chuck Schumer told union members he is “doing everything” to pass legislation to pass the Social Security Fairness Act, which would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). However, Congress is…
Retirement facts for 2024
American workers face many challenges in saving for retirement, but we as a nation are saving despite the news articles pointing to the lack of retirement preparedness. However, there is room for optimism. John Manganaro presents the 12 merry retirement…
Social Security changes that could affect your wallet.
When the Social Security Administration announced on October 10th that the cost-of-living adjustment (COLA) was to be 2.5 percent for 2025, unless you were already taking your Social Security benefits, you may have skipped over that news. However, along with…
What is the best age to begin your benefits?
According to a recent survey, 88 percent of retirees rely on Social Security to make ends meet. The same group said their benefits are a major source of income. So, how can you get the most from your benefits? First,…
Medicare spending was higher for people who disenrolled from Medicare Advantage
In 2024, over half of the Medicare recipients are enrolled in a Medicare Advantage plan. Medicare beneficiaries turn to Medicare plans that offer extra benefits and lower cost-sharing compared to traditional Medicare alone. Although Medicare Advantage plans are a popular…
What is the super catch-up?
Under the SECURE 2.0 Act of 2022, individuals aged 60-63 are eligible to participate in “super catch-up.” What is super catch-up? The super catch-up allows retirement savers to contribute an additional $11,250, on top of the standard $23,500 annual contribution…
What happened to The Social Security Fairness Act?
Where does The Social Security Fairness Act stand now? The Social Security Fairness Act, H.R. 82, was passed by the U.S. House in November and is awaiting a Senate vote. The bill must be voted on by year-end, or it…
Finding happiness in retirement
We all dream of having the best time in retirement, but what happens when the “euphoria” wears off? It does not matter how much money you have in your retirement savings; finding happiness is essential. Lou Carlozo reviews the five…
Where to live in retirement
GOBankingRates recently published a study on how far combined retirement savings of $750,000 and Social Security benefits would last in each region of the country. They considered housing markets, healthcare costs, and assorted living expenses in each area. To read…