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7 Changes to Social Security in 2022
Every year several changes take effect in mid October as the Social Security Administration announces the cost of living adjustment for beneficiaries. Thresholds likewise change for a number of items as Sean Williams notes in this piece. Note, there is…
How does your age affect your Social Security benefits?
The misconception about Social Security is going broke, and you should claim your Social Security benefits at 62 is false. The fact is as long as workers and employers pay payroll taxes, Social Security will not run out of money.…
Will a giant raise result in taxes on your benefits?
Social Security beneficiaries will be receiving the largest cost-of-living adjustment (COLA) in 40 years. The 5.9 percent increase will take effect in January 2022, giving some seniors a necessary boost to their income to keep up with inflation. However, there…
The importance of choosing the right coverage
Fall is in the air, leaves are changing, pumpkin spice is everywhere, and so are those pesky Medicare commercials and mail inserts. However, there is one event that happens every October 15th and runs for seven weeks: Medicare Open Enrollment…
Medicare’s Annual Enrollment Period, start doing your research now
There is a misconception that you can switch your Medicare plan anytime you want; that is incorrect. Most people who want to change health plans must wait for the Medicare Annual Enrollment Period (AEP), which runs from October 15 to…
Before you retire, make sure you tackle these items first
Retirement is a decision that you don’t want to jump into without first looking at your situation. If you are thinking of retiring soon, you may want to make sure you are financially ready. Now that you have retirement savings…
You may not receive as much from Social Security as you think
Social Security benefits represent an important source of retirement income, with 21 percent of married couples and 45 percent of single persons rely on Social Security for 90 percent or more of their income. Although the average benefit amount will…
Understanding the consequences of your choice
Some individuals think when they sign up for Medicare at age 65; they must also sign up for their Social Security benefits. No, that is incorrect; it could cost you money over the long term. Why? When you sign up…
It takes careful strategy to have a successful retirement
It takes careful strategy to have a successful, secure retirement. If you are on track with your retirement planning, that is great. But for some of us, we need a little help with our retirement planning. Lou Carlozo outlines 17…
Many workers have a strong interest in assistance with building emergency savings
The recent survey by the Employee Benefit Research Institute (EBRI) and the Greenwald Research found 60 percent of employees say their employer-sponsored retirement plan contributes a lot to them feeling financially secure. The 2021 Workplace Wellness Survey finds “of those…