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The most important Social Security table you’ll ever see
If only folks could know they could get 120% or more of their regular Social Security benefit. But they’d have to wait until age 70 to get that. What if folks knew they were actually being penalized or punished for taking…
Women Less Likely Than Men to Have Written Retirement Plans
Christy Bieber of The Motley Fool cites recent research from the Transamerica Center for Retirement Studies showing just 19% of women have a written retirement plan compared with 34% of men. This is a huge deal because women generally make less than…
More on the 1.3% COLA Announcement
CNBC goes into some detail on what today’s (10/13) announcement of a 1.3% cost of living adjustment (COLA) means. A 1.3% increase is smaller than this year’s 1.6% bump to benefits. In 2019, the COLA was 2.8%. Still, the 2021 increase is bigger…
3 Common Misconceptions About Social Security
Chris Kissell’s piece here in Money Talks News addresses three common misconceptions on Social Security, a massive and confusing program that even trips up the experts. The Nationwide Retirement Institute’s seventh-annual Social Security survey found three main things: Large numbers of American…
FDR’s grandson’s thoughts on Social Security today
It was the grandfather of James “Jim” Roosevelt, Jr. who created the Social Security program in 1935 that we all know. In this CNBC piece by Lorie Konish, she quotes the grandson, Jim. “My family considered my grandfather’s achievement in signing…
Divorced or Widowed? – Social Security Can Help
The trauma of losing a spouse, either through death or divorce, can be emotionally devastating. But fortunately for many, Social Security benefits can ease at least the financial burden of such a traumatic event. Social Security survivor benefits are, with…
2021 COLA Outlook is Dismal
Although the real numbers won’t be known until after the month of October is over, the current outlook for next year’s Cost of Living Adjustment (COLA) isn’t encouraging, and that means America’s senior citizens will probably fall further behind. Now…
How To Get a Bigger Social Security Check
This FOX Business News article headline suggests that it’s easy to earn an extra $484 per month of Social Security, a claim similar to what we often see in advertisements promising to reveal “secrets” which allow you to get a bigger Social…
Medicare’s “Open Enrollment” Period Starts October 15th
In this timely article by Kate Ashford appearing at The Kenosha (WI) News, the author provides a complete run-down of the forthcoming Medicare Open Enrollment period, which goes from October 15 through December 7th. This is a time when those who…
Payroll Taxes, and How Social Security Works
In this article appearing at a CFP (Certified Financial Planner) informational website for professionals, CFP Ken Frank discusses the recent “payroll tax holiday” and how it may affect Social Security, but goes on to provide a very good overview of…