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IRS Notice of Levy on Wages, Salary, and Other Income
Many people are under the false assumption that IRS cannot issue a levy on their Social Security benefits. The IRS generally issues form 668-W Notice of Levy on Wages, Salary, and Other Income, to the Social Security Administration. After the Social…
What are spousal or divorced benefits?
The average retiree receives $1,511.29 per month in benefits, according to the July 2021 stats from the Social Security Administration. Although Social Security benefits can go a long way toward helping you enjoy retirement, but only receiving $18,135 per year,…
Don’t make this costly mistake when it comes time to sign up for Medicare
If you are one of the roughly 3.4 million people ages 55 to 64 that have your health care coverage through the health marketplace, you need to be aware you will need to sign up for Medicare at age 65.…
Use the two new tools to make an informed choice on your retirement
In 2018 Congress passed the SECURE Act to boost the U.S. retirement income system. Now Congress wants to further encourage retirement savings with a new version of the previous act commonly referred to as “SECURE Act 2.0.” They want to…
Should Social Security be privatized?
In Trevor Filseth’s blog appearing on The National Interest website, www.nationalinterest.org, he discusses the possibility of privatization Social Security. His argument is to save the Social Security trust fund “would be to partially privatize the fund—which, in addition to allowing its…
How to raise your Social Security benefit
According to the July 2021 stats from the Social Security Administration, the average monthly Social Security benefit is $1,556.72. What percentage does this represent to your present salary? If you make around $4,920 per month, the average monthly Social Security…
The Sneaky Expense That Could Wipe Out Your Social Security Raise
Maurie Backman notes current projections have Social Security recipients in line for an estimated 6.2% cost of living adjustment. But Medicare Part B premiums, currently $148.50 per month for most, is also due to go up. No one yet knows…
3 Social Security Moves to Make if You’re Married
Katie Brockman notes that married people may be entitled to more Social Security income than they think. First, she says people need to find out if they are entitled to spousal benefits. Second, they need a claiming strategy, such as…
How to claim Social Security at the right time
Robert Powell of MarketWatch has a fabulous, comprehensive piece here about claiming Social Security at the right time. Age 62 is the right time for just a select few, but misinformation and impatience accounts for so many taking reduced benefits then. …
The Ousting of Commissioner Saul & a Recent Supreme Court ruling
Erich Wagner of Government Executives analyzes the stunning firing of Donald Trump’s Social Security Commissioner Saul by President Biden. Saul enjoyed protection from removal, like a number of top bosses at government agencies, except for “good cause.” But apparently the…