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It’s not hard to get your savings back on track
According to Fidelity’s guidelines, Baby boomers earning the median income in the U.S. should aim to have around $272,000 in the bank by the age of 60. However, the average of $138,900 is well behind that amount. So, what to…
The holidays is a perfect time to talk about retirement
The holidays are the perfect time to talk about retirement. Why do you ask? By talking about retirement to your older family members and friends, you might learn a thing or two. You might gain valuable information on retirement that…
State-sponsored retirement plans are successful and popular
A recent poll by the National Institute on Retirement Security found, “Almost three-quarters of Americans said state-sponsored retirement savings programs, like the ones in Illinois, Oregon, and California, are a good idea, regardless of their age or political affiliations.” Seventy-five…
If you rely on Social Security alone in your retirement, you may not like the number you see
According to a recent Gallup poll, 57 percent of retirees rely on Social Security as their major source of income, while only 33 percent of near-retirees say they expect Social Security to be their major source of income once they…
There are ways to increase your Social Security benefits
According to the Social Security Administration, the estimated average monthly benefits for all retired workers will be $1,657 beginning in January 2022. You are not alone if you think you will need more money than that in your retirement. So,…
Take steps now to protect your income
Mary Johnson of The Senior Citizens League said, “Inflation is still running ahead of the COLA amount right now,” so the adjustment for 2022 may not go as far due to inflation and Medicare costs. However, she did say, “If…
Five tips to help you through Medicare open enrollment season
Medicare open enrollment is going on right now through Tuesday, December 7th. Remember, the open enrollment period is different from your initial enrollment period, which occurs when you become eligible for Medicare. During the open enrollment period, beneficiaries can make…
What the average senior couple will receive in 2022
According to the Social Security Administration, the average monthly Social Security benefit in 2021 was $1,565, which will increase to about $1,657 due to the 5.9 percent COLA increase scheduled to go into effect next year. So, the average couple…
Don’t be in the dark about Social Security
Social Security has been around almost a century, and many people still don’t know about the program. The Social Security program has over 2700 rules, but you don’t need to know all of them. But there are some rules about…
Don’t get too excited about your larger Social Security checks
The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Increased payments to approximately 8 million SSI beneficiaries will begin on December 30, 2021. Although you may be…