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Prioritizing Retirement Savings
As we approach the new year, now is a good time to review your approach to retirement savings, even if you’re still some years away from hanging up your work clothes for good. As you may know, Social Security isn’t…
Thinking of Retirement in 2022? Read this
In this Motley Fool article, contributor Maurie Backman suggests that if you’re thinking about retiring in 2022, you may want to revisit whether that is really a good idea. The COVID-19 pandemic is still with us, and a new variant…
The Debate on Reforming Social Security Continues
Almost seems like the old movie “Groundhog Day,” where the same day was relived over and over again. Yesterday Congress discussed the latest Social Security reform proposal – The Social Security 2100 Act recently introduced by Rep. John Larson (D-Conn).…
Planning is Key to a Higher Social Security Check
There are some things in life over which you have no control, but fortunately the size of your Social Security benefit isn’t in that category. Reality is that you can exercise substantial control over how much your SS benefit will…
Be Prepared: You’ll Probably Never Get the Maximum Social Security Benefit
For 2022, the maximum Social Security benefit is $4,194, but the chances you’ll get that much are mighty slim. To do so, you would have to have earned at least the annual payroll tax cap for every year of your…
Does Working Increase My Social Security Benefit?
Most Americans who focus on retirement planning know that delaying Social Security until age 70 will yield the maximum monthly benefit amount. But, is that really the maximum? What if you claim Social Security at age 70 and you continue…
Restoring Social Security to Long Term Solvency
It seems that with every new Congress comes a crop of proposed legislation ostensibly meant to reform Social Security and improve its financial status (or, depending on your view, intended to pander to American seniors). Such is the case in…
About State Income Tax on Social Security Benefits
Although the title within this article is a bit misleading (implying that Social Security has different rules in 13 states), the article is nevertheless accurate in describing how State income tax can affect how much of your federal Social Security…
Social Security’s Payment Schedule
With so much hoopla about the big Cost of Living (COLA) increase coming in 2022, it’s important to not lose sight of how and when your Social Security benefits are paid. The COLA increase is applied to your December benefit…
Claiming Early Means a Smaller Social Security Check
Age 62 remains the most popular age at which Social Security benefits are claimed, but too often for the wrong reasons. Don’t misunderstand – there are some very good reasons why claiming Social Security before you reach your full retirement…