Latest News
The Pros and Cons of Medicare Advantage (“Part C”) Plans
As we roll into what’s often called “open enrollment” (which starts on October 15th) the TV airwaves will show many ads by insurance companies anxious to get you to buy a Medicare Advantage plan from them. Those ads will include…
A Primer on Social Security Disability Insurance (SSDI) benefits
Social Security Disability Insurance (SSDI) is there for American worker’s who become disabled before reaching their full retirement age. SSDI is a program designed to provide only a portion of the income the disabled person was previously receiving from employment,…
Thoughts on not waiting until age 70 to file
Conventional wisdom conveyed by financial advisors to clients is to wait until age 70 to file for Social Security benefits, and thereby increase the amount of that monthly benefit payment. But is that always the best advice? The Motley Fool’s Maurie…
Redesigned Social Security Statement – A Big Improvement!
Many Americans have, for years, received a statement from the Social Security Administration which reflects their projected retirement benefits. The statement comes annually for those approaching retirement age, and has been available online for years for those who have created a…
Big COLA Increase Coming, But Don’t Get Too Excited
It’s been all over the news lately that an announcement will soon be made that the Social Security Cost of Living Adjustment (COLA) for 2022 will soon be announced, and that it will be the biggest increase in over four…
Your Social Security Won’t Change if Your Ex-spouse Claims Benefits From You
It’s not unusual that some divorced partners can claim benefits from their ex-spouse, and it’s a common misunderstanding that doing so reduces the benefit of the spouse who’s record is being used for the claim. That is not at all the…
The Social Security Payroll Tax Cap: Everything You Need to Know
Everyone who works and earns pays Social Security tax out of their earnings, up to a certain annual earnings limit known as the “payroll tax cap.” This year, the tax cap is $142,800 and employees and employers each pay 6.2% of…
Big COLA Increase Coming, but Higher Prices Will Consume It
Any day now, the Government will be announcing the 2021 Cost of Living Adjustment (COLA) which will increase Social Security benefits next year. By most reports, the 2021 COLA increase will be about 6%, the highest in over 4 decades.…
Will Social Security Become Insolvent? An Opinion
If you pay even moderate attention to the news, you cannot have missed recent headlines trumpeting the impending insolvency of Social Security. If so, try to remember that news headlines “scream” to get your attention, and the narratives underneath may be somewhat…
Should A “Stay-at-Home Mom” earn Social Security Credits?
In this article by Tom Margenau appearing in the Dallas Morning News, a stay-at-home mom opines that those who have a career as a homemaker should earn Social Security credits, just like those who work for an income. The article’s…