Latest News
Social Security benefits for ex-spouses
In Jeff Miller’s “Social Security Q&A” column that appears on www.moneytalksnews.com, he answers one of his readers’ questions on whether or not she can switch to spousal Social Security benefits when her ex-spouse dies. He explains the best time to claim,…
Medigap buyers can save through comparison shopping
A recent analysis by eHealth found Medicare beneficiaries could save an average of $840 per year for Medicare Supplement Plan F or $648 per year for Plan N if they enroll in the lowest-cost option available in their area. Medicare…
Medicare Advantage beneficiaries save more money
The newest analysis by Better Medicare Alliance found Medicare Advantage plan holders spend $1,640 less a year compared with traditional fee-for-service. Their analysis also showed that lower-income Medicare beneficiaries are more likely to choose MA over traditional Medicare. Allyson Schwartz,…
A gift strategy for your descendants
If you are doing okay in your retirement saving and investment, you may be thinking of what you will leave for your descendants. One of the best gifts you can give your child or grandchild is financial security by leaving…
How the windfall elimination provision and government pension offset affects public employees
If you receive a pension from a job that did not deduct FICA taxes (Federal Insurance Contributions Act), your benefits from Social Security will be affected by the windfall elimination provision (WEP) and the government pension offset (GPO). For those…
IRS states federal beneficiaries should be seeing their stimulus checks around April 7th
The Treasury Department released a statement advising the stimulus checks for Social Security recipients, Supplemental Security Income beneficiaries and railroad retirees will begin to arrive April 7th. However, the IRS is still reviewing the data for Veterans Affairs benefit recipients…
Medicare Advantage Open Enrollment period ends March 31st.
If you have a Medicare Advantage plan and are dissatisfied with your plan, your window to switch to another plan or to go back to original Medicare is closing rapidly. The Medicare Advantage Open Enrollment period ends this Wednesday, March…
Retirees need to have the right facts to help them
The recent Fidelity Investments survey found Americans are falling short on not only saving for retirement but also have gaps in understanding key elements of planning for their retirement. “Retirees need to have the right facts, there are steps that…
Many Americans report that they are still struggling to save
Many Americans report that they are still struggling to save but they are optimistic about their current financial future according to MassMutual’s Consumer Spending & Saving Index. The index tracks financial outlooks and behaviors in this changing economic environment caused…
Should the reduction in Social Security benefits for claiming early be reduced?
You are entitled to your full Social Security benefits when you reach your full retirement age (FRA) which currently falls somewhere between 66 and 67; however, you can start receiving your Social Security retirement benefits as early as age 62.…