Latest News
The “When to File” Decision, Again, But With Guidance for the Middle-Class
Many factors go into the decision on when to begin drawing Social Security benefits, but for middle-class Americans–and that’s still about half of the population, according to Pew Research Center–it becomes more critical to weave the decision into a broader…
Commissioner O’Malley Puts a Stake in the Ground on Telework
As he comes up to speed in his new role, Social Security Commissioner Martin O’Malley is traveling the country getting a feel for life in the Agency’s field offices. One of the byproducts of his ground-level tours is an assessment…
A Quick Refresher on Spousal Benefits
Although so much of Social Security’s rulebook involves complicated qualifications, there are a few very basic premises that anyone planning their retirement finances should know. Many folks are already aware of these basics, but it’s still a good idea to…
Social Security Advisory Board Nominee Drawing Concerns
The nomination of Andrew Biggs, former principal deputy commissioner of the Social Security Administration (SSA), for a seat on the Social Security Advisory Board has sounded some alarm bells in the U.S. Senate. As reported in a Newsweek article by…
A Quick Review of Spousal/Survivor Benefit Rules
The general issue of which benefits are available to spouses and survivors contains some fairly explicit rules, so it’s always a good idea in financial planning exercises to be sure they’re well understood. The editorial staff at moneywise.com offers a…
“Peak 65” is Here.
According to a morningstar.com post by contributor Jessica Hall, 2024 represents a statistical milestone in the steady wave of people reaching age 65–12,000 per day to be more precise, also referred to as “Peak 65.” This rate of growth in…
Five Common Mistakes in Planning Retirement Finances–Have You Made Any of Them?
Financial planning for retirement years is not wimps…it takes serious and careful attention to a wid variety of factors, some of which may not be in your direct control. But some are, and The Motley Fool’s Kailey Hagen cites five of…
Retirement, Inflation, and COLA’s shortcomings
Seniors have a general concern about the durability of their financial plans in retirement, and that was cited in a post by The Motley Fool’s Maurie Backman in a post on their website. Part of the issue at hand is…
Another Tax Time Alert–Remember that Withdrawals from Deferred Retirement Accounts Will Affect Your Income Taxes
Although withdrawals from 401(k) plans and deferred (non-Roth) IRAs do not directly affect Social Security benefits, they do have a direct impact on the amount of your modified adjusted gross income used to calculate your federal tax obligation. As a…
Tax Time…Has Last Year’s COLA Put You Over the Threshold?
Many seniors with taxable income close to the threshold for including Social Security benefits as part of the calculation may wind up with a tax bill as a result of last year’s higher-than-usual cost of living adjustment. The threshold for…