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Understanding the Social Security “Disability Freeze”
Although the title of this article is misleading using the word “Jelly,” what it is actually about is a Social Security rule known as the “Disability Freeze.” For those who collect SS Disability Insurance (SSDI) benefits for a time and later return to…
Do Higher Earnings Mean a Higher Social Security Benefit?
Well, the obvious answer is “yes,” but there are also some limitations. First of all, only those earnings under the annual Social Security “wage base” count for purposes of calculating your SS benefit. Second, high earnings for only a few years…
Pandemic Worsened Retirement Challenges For Women
Most financial advisors will agree – women face more daunting retirement challenges than their male counterparts, and the COVID-19 pandemic only made matters worse. The reasons retirement planning for women is more difficult are pretty well known – the so-called gender…
Retirement Mistakes That Hurt You
Most of us have dreamed of a retirement filled with endless leisurely days pursuing hobbies and activities not possible while were working. Proper planning is key to achieving that dream, but neglecting a just few simple factors can throw a…
How To Do “Better Than Average” with Social Security
Included in Social Security’s annually released Fact Sheet is that in 2021 the “average” Social Security beneficiary received $1,565 per month. That’s not a lot, especially if you, like most Americans, rely on Social Security for a major portion of your…
Will Your Social Security Payment Beat the “Average?”
The much heralded news about the 2022 5.9% Cost of Living Adjustment (COLA) reveals that the new “average” Social Security payment will be $1,657 per month. But “average” means that some beneficiaries will be paid less than that and some…
How the 2022 COLA Will Affect the Average Couple
Viewed by most as an historic event, the 2022 Cost of Living Adjustment (COLA) of 5.9% is the highest increase in decades. But what will that increase mean to the average senior couple who have been already paying inflated prices…
Interesting Pandemic Anomaly – Delayed Claiming of Social Security
A Washington Post survey has revealed a surprising dichotomy from what economists expected – the number of people choosing to delay claiming their Social Security benefits went up during the COVID-19 pandemic, even while the number of people retiring from work rose. That was exactly the…
Social Security “Work Credits” Will Cost a Bit More in 2022
Social Security eligibility is determined by how many “work credits” (sometimes called “quarter credits”) you have. To be eligible for Social Security retirement benefits on your own, you’ll need to accumulate at least forty (40) credits over your lifetime and,…
When is it Wise to Claim Social Security at 62?
Deciding when to claim Social Security can be confusing. Most professional advisors suggest you wait as long as possible because your benefit continues to grow until you are 70 years old, so the longer you wait the more your benefit…