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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…
Brief History of Social Security
Peter Suciu, a Michigan based writer, contributes an interesting piece here in The National Interest. In August 1935 President Franklin Roosevelt signed the Social Security Act into law. It created a program that would pay monthly benefits to retired workers starting at…
Squeeze an Extra 24% Out of Social Security
Selena Maranjian reminds readers that Social Security is a vital program for older Americans that lifts nearly 10 million people out of poverty and provides 50% or more of retirement income for more than a third of older beneficiaries. There are multiple…
The 5 Biggest Social Security Changes on the Horizon in 2022
Christy Bieber notes that in 2022, Social Security will look different than it does this year. While no change in the law occurred, updates and technical changes due to inflation mean every household needs to be prepared for the changes, as it’s…