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A Quick Review of Spousal/Survivor Benefit Rules
The general issue of which benefits are available to spouses and survivors contains some fairly explicit rules, so it’s always a good idea in financial planning exercises to be sure they’re well understood. The editorial staff at moneywise.com offers a…
“Peak 65” is Here.
According to a morningstar.com post by contributor Jessica Hall, 2024 represents a statistical milestone in the steady wave of people reaching age 65–12,000 per day to be more precise, also referred to as “Peak 65.” This rate of growth in…
Five Common Mistakes in Planning Retirement Finances–Have You Made Any of Them?
Financial planning for retirement years is not wimps…it takes serious and careful attention to a wid variety of factors, some of which may not be in your direct control. But some are, and The Motley Fool’s Kailey Hagen cites five of…
Retirement, Inflation, and COLA’s shortcomings
Seniors have a general concern about the durability of their financial plans in retirement, and that was cited in a post by The Motley Fool’s Maurie Backman in a post on their website. Part of the issue at hand is…
Another Tax Time Alert–Remember that Withdrawals from Deferred Retirement Accounts Will Affect Your Income Taxes
Although withdrawals from 401(k) plans and deferred (non-Roth) IRAs do not directly affect Social Security benefits, they do have a direct impact on the amount of your modified adjusted gross income used to calculate your federal tax obligation. As a…
Tax Time…Has Last Year’s COLA Put You Over the Threshold?
Many seniors with taxable income close to the threshold for including Social Security benefits as part of the calculation may wind up with a tax bill as a result of last year’s higher-than-usual cost of living adjustment. The threshold for…
Economic Insecurity and Retirement–A Looming Problem for Many
Longer lifespans and a deteriorating financial picture on the Social Security front present a very real financial concern for seniors, according to a post by GoBankingRates contributor Sean Fisher on their website. Despite the negativity around insufficuent savings and the…
Misunderstanding of Social Security’s Funding Underscored in Op-Ed
An article posted on the Bossier Press-Tribune suggests that a comment made by a member of Congress illustrates a fundamental misunderstanding of how Social Security is funded, and goes on to stress the importance of prioritizing an approach to dealing…
2024 May be the Year for You to Begin Social Security Benefits If…
The Motley Fool’s Kailey Hagen provides three separate reasons why a qualified Social Security beneficiary should take the leap and claim their earned benefits in 2024. The reasons deal with expected longevity, financial needs, and the age of the beneficiary.…
SSA Reports Uptick in Customer Experience Ratings
Citing a 3.3-point increase in Social Security’s ranking in the most recent Forrester’s 2023 Customer Experience Index, a spokesman for the agency notes that efforts to provide increased access to programs and services have paid off. A post on The…