Latest News
The U.S. economy needs people to work longer
This op-ed by Richard Jackson of MarketWatch notes the decline in elderly labor-force participation, mainly due to older workers dropping out of the workforce due to Covid, is slowing the current economic recovery. Jackson notes many women left the labor…
This Social Security Rule Stays the Same — and It Could Cost You
A plethora of numbers will change related to Social Security in 2022, as they do every January, most related to indexing figures for inflation. Benefits go up. The amount of taxable income for Social Security purposes rises. The amount one…
Biden Aims to Slash ‘Time Tax’ for Social Security
What’s a “time tax?” In short, it takes a long time to fill out government forms or access federal benefits. Biden’s executive order is a push to make government services more accessible to people. Some of the biggest impacts of the…
3 Great Reasons to Take Social Security Benefits at 62
Seniors can begin collecting Social Security benefits as early as age 62, and most do that. It comes with a permanently reduced amount, however. Thus, most experts advise waiting. But Maurie Backman lists three reasons why age 62 might make…
Can You Work and Claim Social Security?
Christy Bieber answers a common question seniors have– “Can I work and receive Social Security benefits?” The answer is yes, but whether or not you will have a deduction for “making too much” depends on your retirement age. There is…
7 Reasons You Might Not Receive Social Security Benefits
Everyone pays into and receives Social Security benefits, right? Not quite. Most yes, but not all. Andrew Lisa of Yahoo Finance lists seven reasons why one ight not receive Social Security benefits. They are: 1.) You Failed the Social Security…
2 Pieces of Bad News for Social Security Retirees
Christy Bieber explains how the 5.9% cost of living adjustment due to all beneficiaries in January has some pitfalls nonetheless. First, new inflation numbers report price spikes of 6.2% year over year. Second, Medicare premiums are rising 14.5%. While monthly…
Survey: Alarming Percent of Americans Don’t Understand Social Security
This, of course, isn’t really new news, because Social Security is an exceedingly complex program with over 2,700 rules explained in over 100,000 website pages at the Social Security Administration. But while knowing all, or even most of those rules…
Next Up: The Medicare Advantage Open Enrollment Period
Just as you thought those incessant TV ads would stop when the annual Medicare Open Enrollment Period ended on December 7th, guess what? Starting on January 1st and lasting until March 31st, another special Medicare Advantage open enrollment period gives…
Time for a Year-end Retirement Plan Review
As most of us know, periodic review of our retirement plan is needed to make sure we’re on track for the future. But as the end of the year approaches, it’s especially important to understand that there are financial opportunities…