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Social Security, and the COVID-19 Pandemic
No one would argue that 2020 hasn’t been a challenging year. The COVID-19 pandemic threw a whole bucket of monkey wrenches into most families, especially those who were contemplating retirement and trying to see where Social Security fit into their retirement…
Some Unique Social Security Rules You Should Know
Social Security has lots of rules – in fact, well over 2,700 of them. Indeed, there’s a rule in place for just about every conceivable situation which has ever arisen in the lives of all 64 million Social Security recipients. But there…
Claiming Social Security at Age 65 May Not Be Wise
Age 65 seems to be what many people consider the “standard” retirement age. Of course, that could be influenced by the requirement to enroll for Medicare benefits at age 65, which leads many to assume that filing for Social Security…
Will You Outlive Your Retirement Nest Egg?
A fairly large percentage of older Americans fear that they will outlive their retirement nest egg, which would make for a pretty uncomfortable – if not dire – situation in later years. Those fears may be pretty well founded, unless…
Part B premium reduction give back plans
What is the “giveback” benefit and how do I qualify for it? First, a Federal regulation allowed Medicare Advantage plans to receive a reduction in its payments, which in turn helps to fund the giveback. In 2021, there will be…
How to avoid falling victim to a Social Security scam
Social Security scams are up and fraudsters are not letting up even during the pandemic. In the past three months, 47 percent of Americans have experienced an attempted Social Security scam and 21 percent of seniors report that they have…
Ask your retired relatives about their retirement
If you will be Zooming this holiday season with your older relatives and friends and wondering what you’ll talk about? One suggestion is to ask your retired elders how they are doing in their retirement. You could learn valuable lessons…
Seek wealth for a relaxing retirement
Americans are more concerned about retirement security than they were a year ago according to a recent survey by SimplyWise. The survey reports 71 percent of Americans over 70 are worried their Social Security benefits will decline. And almost 50…
Social Security is vitally important to women
Nearly 55 percent of the people receiving Social Security benefits are women. More women work, pay Social Security taxes, and earn credit toward monthly retirement income than at any other time in our nation’s history. According to the Bureau of…
Know the details of your IRA
An individual retirement account (IRA) is a well-known retirement saving vehicle but do you know an IRA can come in either pre-tax or post-tax variety, and may or may not be connected with your current employment status? These details of…