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Social Security beneficiaries can expect their monthly payouts to increase in January
For 62 percent of current retirees, their Social Security benefit accounts for a least half their monthly income according to the Social Security Administration. Also, based on the analysis from the Center on Budget and Policy Priorities more than 15…
Educating yourself could help you avoid costly Social Security mistakes
Almost the half of single seniors rely on Social Security for 90 percent or more of their income according to the Social Security Administration and almost a quarter of married couples do as well. So, it’s important to read up…
Addressing the risk of isolation in retirement
There are 35 million Americans living alone which can lead to serious health conditions, such as heart disease, depression, reduced effectiveness of their immune system, and Alzheimer’s disease. Also, there are 53 million Americans, often retirees themselves, who spend time…
The 2021 retirement plan contribution limits for 401(k)s and more
The basic salary deferral amount for 401(k) and similar workplace plans remains flat at $19,500; the $6,500 catch-up amount if you’re 50 or older also remains the same but the overall limit for these plans goes up from $57,000 to…
The Covid-19 recession risks draining the Social Security Trust Fund
A new study from the Bipartisan Policy Center found the COVID-19 recession risks draining the Social Security Trust Fund one to five years earlier than its trustees had projected. The Social Security Trustees had estimated the fund would run out…
There is still some time to make the most of the CARES Act benefits
There is still time to make the most of the Coronavirus Aid, Relief and Economic Security (CARES) Act benefits. Although many of these benefits have expired and may not be renewed, but some of them are still available. In Pam…
To figure out how much you should expect to spend in retirement
With older adults living longer and general living expenses continuing to claim, retirement comes with a hefty price tag. However, putting a tag on retirement itself can be tough since everyone’s situation is different but the best place to start…
Who doesn’t want more money in retirement
We all want to retire without worrying about having enough money to pay our bills or enjoy a comfortable lifestyle. But does that mean we may need to sacrificing other luxuries along the way or is there some easy ways…
Do you know the answer to these Social Security questions?
When it comes to Social Security, majority of people often start their benefits without understanding how their choice will affect their checks and their lifetime benefits. In Kailey Hagan’s article appearing on www.kenoshanews.com, she writes there are three Social Security…
A Discussion on the Social Security Earnings Test
The Motley Fool’s Maurie Backman, in a post on www.nasdaq.com, takes a look at the Social Security earnings test–the portion of the program that allows workers to remain in the workforce while drawing benefits before their full retirement age, recognizing that these…