Latest News
Rep. Brady Floats Bill to Forgive Payroll Taxes Deferred Under Trump Order
While it’s not at all likely to become law, Rep. Brady (R-TX), the ranking member of the House Ways and Means Committee, introduced The Support for Workers, Families and Social Security Act last Friday. The bill would create a temporary…
3 Social Security Must-Knows After Getting Divorced
Christy Bieber notes that married couples have lots of different strategies to increase their Social Security benefits. But divorce does not necessarily eliminate all options. Bieber goes into detail on three key things to know: 1. You may still be eligible to…
Avoiding a Market Crash When Retired
A stock market rash is one of those inevitable things. Maurie Backman’s piece here gives retirees advice so they can take action in advance of the next downturn. The five steps suggested are: 1. Have an emergency fund; 2. Keep a…
Is $22k a year enough to live on in retirement?
Christy Bieber notes that Social Security benefits and money from savings are the two primary sources of income for retirees. In 2020, the average Social Security benefit totals about $18k per year with savings adding just over $4k annually. That is…
Social Security Out of Funds by 2023? Not at all likely.
Much is in the news these days about Social Security having no income source to pay benefits by 2023. That would be the case if President Trump was able to eliminate the payroll tax completely AND no alternative source of…
Know the Rules on Taxation of Social Security Benefits
Many seniors are aghast that the IRS takes a piece of their Social Security benefits. Of course the law is the law. Maurie Backman of The Motley Fool dives into the issue, noting low income seniors whose only source of income…
Why it doesn’t matter when you begin Soc Sec — in theory
“In theory” are the key words as to why it matters not the age one claims Social Security. The reason is you should end up with about the exact same benefits, but again, that is “in theory.” If one lives…
Small COLA Predicted. But there WILL Be One
Dan Caplinger of The Motley Fool takes readers through how the Social Security Administration uses price increases from July, August, and September as compared to the previous year using those months to figure the cost of living adjustment (COLA) Social Security recipients will…
Sage Retirement Advice During Unsettling Times
To say the least, stock market volatility during 2020 has been unsettling to most retirees and near-retirees. But the large downturn in the market earlier in the year has been largely recovered as the market rebounded later in the year. Which…
Working While Collecting Early Social Security
Some might call it a sneaky Social Security rule, and it does catch a lot of Social Security recipients by surprise, but the so-called “retirement earnings test” or “RET” has been around for a lot of years. Essentially, anyone who…