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May 13 is IRS deadline to enter direct deposit info for stimulus checks
Sean Williams reminds readers here that Wednesday, May 13th is the final deadline set by the IRS for one to enter bank direct deposit information on the IRS website. Paper checks will be issued to those who do not have…
A third of retirees are spending more than expected
Maurie Backman reports on the results of a recent survey by the Employee Benefit Research Institute. It finds 34% of retirees admit they are spending more than they thought they would. Why? Health care, housing, and leisure/entertainment are the three categories that lead the way…
Paying employers to hire their workers back: unique idea or just more debt?
Sen. Josh Hawley (R-MO) is proposing a sort of negative payroll tax designed to keep as many employed as possible versus merely paying money out to people directly. Dan Caplinger of The Motley Fool explains Sen. Hawley’s plan in this informative article. Companies are…
2 Social Security Mistakes That Could Cost You During the Pandemic
Katie Brockman’s piece here notes how important it is for folks to avoid making any hasty decisions that can cause long-term consequences. Taking benefits early out of fear and delaying benefits when one cannot afford to do so are the two key…
Social Security recipients don’t anticipate problems in the future – but they should
Maurie Backman writes how today’s seniors have a rather rosy attitude with regard to Social Security, citing recent survey by the Employee Benefit Research Institute. In it 68% of retirees said they’re confident Social Security will continue to provide benefits of equal value…
4 Ways the Coronavirus Pandemic Could Affect Retirees’ Finances
In many ways it’s never been a better time to be a retiree, compared to so many millions of other Americans. No job loss due to the pandemic. Retirees who are single tax filers with incomes below $75k ($150k if…
Advice From the IRS to Expedite Your Stimulus Payment
Most of the remaining economic impact (stimulus) payments will be in the form of paper checks, but there is still an opportunity to get a check via direct deposit. Forbes senior contributor Kelly Phillips Erb, in a post on forbes.com, explains…
SSA Provides Updated Guidance on COVID-19 Impact Payments
The Social Security Administration late yesterday provided an update on the question “How do I get my COVID-19 economic impact payment?” The announcement includes an update to their document ” Economic Impact Payments for Social Security and SSI Recipients – Steps to…
The Importance of Knowing (and Considering) Your FRA When Pondering Filing for Social Security
Surprisingly, many folks approaching Social Security eligibility are not clear on what their full retirement age (FRA) actually is. But more importantly, many folks are also not aware of the impact their FRA has on their ultimate level of benefits.…
Incorrect Social Security Information Cited as Contributing to Unemployment Debacle
Many states are grappling with the unprecedented demand for unemployment compensation in the wake of the COVID-19 pandemic, and it isn’t hard to believe that many of the claims remain unpaid as processing problems crop up. And in at least…