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The Watering Down of Social Security’s COLA
The Motley Fool’s Christy Bieber, in a post today on their website, reminds us that the 1.3% cost-of-living adjustment is not as “generous” as expected, since increases in Medicare premiums will erode the bottom line. Also, with respect to actual living…
How the Timing of Your Benefit Start-Up Affects Survivor Benefits
One of the questions we receive most frequently at the AMAC Foundation’s Social Security Advisory Service focuses on the timing of that decision to begin drawing retirements. The impact on monthly benefits is a fairly easy question to answer…it’s pure…
This Sneaky Retirement Planning Mistake Could Cost You More Than You Think
Katie Brockman reminds readers that one of the most costly retirement mistakes you can make is to withdraw money from your retirement fund before you retire. She notes that millions of Americans lost their jobs due to the COVID-19 pandemic, and some of…
What Does a Biden Presidency Mean for Social Security?
Sean Williams reminds readers that for more than 80 years, Social Security has without fail made guaranteed payments to eligible retired workers. Today, 65 million people receive a monthly benefit, and 46 million are retirees. That is in peril, and it…
Claimed Social Security Too Early? There Are Options
Any claiming of Social Security benefits before full retirement age (FRA) comes with a permanent reduction in monthly checks for life. In fact, even claiming before age 70 (maximum age) will costs you money. Christy Bieber notes three things you…
Big Changes Likely for Social Security & Medicare Under Biden
Catherine Siskos of Kiplinger notes Joe Biden and the next Congress will have to confront entitlement program spending, whether they want to or not. Funding shortfalls and outright insolvency loom for both Social Security and Medicare, the latter coming first as early…
4 Things Most Retirees Should Never Do
Making prudent financial choices in retirement is essential to help ensure continued financial security for life. Christy Bieber of The Motley Fool details financial mistakes related to retirement that could be costly. She insists one should NOT do these four things: 1.) Go without…
Don’t Let These 3 Social Security Regrets Wreck Your Retirement
According to a 2019 study conducted by the Michigan Retirement and Disability Research Center at the University of Michigan, 22% of retirees say they have Social Security regrets. Claiming Social Security too early is among the regrets, with 1-in-5 retirees…
10 states disbursing huge Social Security checks
Why is it that a little more than 25% of the retirees in just 10 states bring home at least $6,000 in annual Social Security retirement benefits above the national average? That’s the focus of this piece by Foxbusiness.com. Before digging into the details as…
4 Things to Do Before Dec. 7th During Medicare Open Enrollment
While over 65 million collect Social Security retirement benefits, Kailey Hagen reminds the 62 million folks on Medicare that they need to turn their attentions from the election to the remaining time left to adjust their insurance plans. December 7th is…