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Social Security Benefits: The Top 10 State Averages
New Jersey heads the list of average Social Security benefits by state, $20,537 across its 1.2 million beneficiaries. Which state is next in line? Check out this realdaily.com post by Benjamin Roussey to see the remainder of the top ten. Then, if you’re…
Social Security 2020 – There was some good news!
Contrary to most expectations, Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund reserves actually increased in the fiscal year ended September 30, according to the U.S. Treasury Department’s latest report. The fund showed a slight ($7 billion) increase, but the significance is…
Reminder – 3 Basic Social Security Changes for 2021
Just a year-end reminder here…three of Social Security’s basic parameters are changing as we head into the New Year. Benefits Pro reporter Ilana Polyak takes a look at them in a post benefitspro.com. Check it out here, and if you have any…
FERS, CSRS, and Social Security for Members of Congress…What’s the Connection?
There’s always a level of conjecture about the retirement “packages” made available to retiring members of Congress. One prevalent assumption is that their rate of pay continues unaffected upon retirement, but that may or may not be true. The “Answer…
Military Personnel: Don’t forget to plan for payroll taxes deferred from 2020
Military Times reporter Karen Jowers, in a post on their website, offers a reminder to military personnel that they’ll need to make provision for repayment of the payroll taxes deferred in 2020 following President Trump’s August memorandum. After all, it was…
Preparing for Retirement? Here are Some Thoughtful Suggestions.
Considering that big step into retirement can produce some anxiety, but there are a few steps you can take as you approach this phase of life that can make things go a bit smoother. In fact, as The Motley Fool’s…
Life Expectancies on the Rise…What’s the Social Security Connection>
As we’ve been saying for quite a few years, people are living longer in retirement. In fact, as The Motley Fool’s Mairie Backman notes in her post on fremonttribune.com, the national average life expectancy increased for the fifth straight year. On…
Medicare will not cover your dental care
People over the age of 65 retain some of their natural teeth; older people are at higher risk of gum disease, tooth decay, oral cancer, and tooth loss. There’s an association between gum disease and conditions like heart disease, stroke,…
What does it mean to have “enough” in retirement?
What does it mean to you to have “enough” in retirement? Everyone wants a happy and secure retirement with enough money to live the “good life“ for rest of their lives, but will you reach that ideal benchmark? Yes, we…
Did your 401(k) withdrawal cost you $46,000?
The CARES Act helped out those affected by COVID-19 by loosening the normal restrictions on 401(k) withdrawals, but months later, those distributions have turned out to be vastly more expensive than anyone would have predicted. Why? After the market crashed…