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Social Security supports small businesses
(Source: Social Security Administration, pantagraph.com) The COVID-19 pandemic has been testing small businesses. Running a small business can be a 24-7 endeavor. Managing employees, inventory, scheduling, services and marketing can be challenging even in normal times. If you’re a small…
The Big COLA: How much will your benefit check increase?
For many, it will be a simple matter to take their current benefit amount and multiply it by 1.059 to get a picture of what their monthly payment will look like in January. But for those who are covered by Medicare…
A Recap of the Social Security Year Ahead
2022 is hurtling toward us at a rapid clip–who can believe we’re only a week away from Halloween?–and there are. as usual, a slate of changes anyone contemplating retirement (or already in retirement) should be aware of. Yahoo.com’s Andrew Lisa provides…
Senior Citizens League Pushes for Another Stimulus
Citing the damage that current inflation rates are doing to the senior population, The Senior Citizens League (TSCL) Chairman Rick Delaney has called on Congress to consider an additional $1400 stimulus payment to older Americans. In an article posted by Vance…
Discussing Social Security Myths
In a YouTube post, BetterMoneyTV.com hosted a discussion on a handful of myths and misunderstandings widely held in the general public about Social Security. The discussion focused on four key perpetuated misstatements: (1) many think they must start benefits at…
Want $50,000 in Retirement Income?
Social Security replaces just 40% of pre-retirement income, so additional funds are necessary to live beyond mere existence. Christy Bieber explains what is necessary to provide yourself with $50,000 annually. The key points in this piece are these: 1.) the…
Stop Worrying About Social Security Going Broke
Christy Bieber explains one should not lose any sleep over Social Security going bankrupt. It is not, as there will always be workers paying taxes into the system, just not enough workers. Thus the program is headed for insolvency, but that…
Make These 3 Retirement Moves Now
Christy Bieber notes a number of moves seniors can make to achieve a richer retirement. They include claiming tax breaks for retirement savings like IRAs and 401k plans and even the saver’s credit. Two is minimize your retirement tax bill. Three is maximize your…
Two Ways Retirees Could Lose Some of Their Social Security Raise
Christy Bieber explains that seniors may not be keeping as much of the 5.9% cost of living adjustment that goes into effect on January 1, 2022 as they might think. Medicare premiums are going up too. Also, with an average…
What Retirement Income Looks Like if You Only Have Social Security
Maurie Backman notes many seniors rely heavily on Social Security to cover their expenses. But she notes that if you don’t have income outside of those benefits, you will likely struggle to make ends meet. The average benefit of $1,559 per…