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Seniors and Social Security Expectations–Over Estimation can Lead to Problems
Planning for the financial aspects of one’s retirement life is a daunting process, and for many folks it’s made even more consequential as a result of their being misinformed about Social Security and the role it will play in their…
Social Security Benefits and Poverty…A Perspective
By design, Social Security is structured to replace (on average) about 40% of one’s pre-retirement earning level. This, of course, leaves the remainder to be handled by savings and other income streams if the desire is to retain a standard…
Social Security Benefit Payments Choice Act of 2021 Introduced
U.S. Representatives Jack Bergman (R-MI) and Carol Miller (R-WV) yesterday. Currently, the Social Security Administration (SSA) pays most beneficiaries on the second, third, or fourth Wednesday of every month – forcing recipients to wait 35 days between payments four times each year.…
Your Social Security Benefit–Ways to Grow It
For those looking ahead to retirement and Social Security, it’s important to be aware that there are some strategic steps you can take to get the most benefit available to you. In a post on the Mooresville Tribune, the Motley…
2022 COLA Watch – A New Projection
CNBC Personal Finance Reporter Lorie Konish offered comments on The Senior Citizens League’s recent COLA forecast for 2022, noting that recent inflation projections indicate the possibility of a 5.3% January increase in benefits. The projection is based largely on recent jumps in…
Social Security and the Implications of Self-Employment
Self-employment is substantially different from payroll-based employment, and the difference goes beyond the simple fact that self-employed workers face a double whammy on taxes. Payrolled workers, for example, pay FICA tax at the rate of 6.2%, while the self-employed pay…
Marital Issues Can Complicate Social Security
Basic Social Security can be fairly simple. Yes, the rules appear complicated, but in a retirement situation, it’s often straightforward. Not so with marital situations, as explained in this Q&A series posted on Watertown Daily Times by contributor Steve Sharp.…
Understanding Spousal Benefits
One of the most significant aspects of Social Security is its provision of support for spouses, especially those who have not had the opportunity to build adequate retirement resources on their own through a career in the workforce. From a…
Social Security: Managing the Tax Bite
The revelation that Social Security benefits are likely to be taxable comes as a bit of a shock to many new retirees, and it’s something that many have not planned for. But don’t despair, there are steps you can take…
Retirement–It’s More Than Just Social Security!
Having a successful–and, hopefully, an enjoyable–retirement requires more than just ensuring that you’re getting the most out of your Social Security benefits. As Retirement Income Certified Professional (RICP®), Certified Annuity Specialist (CAS®), and Kiplinger contributor Jennifer Lahaie notes in a post on…