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The ‘stay safe at home’ policy is similar to retirement
This era of self-quarantine may change your outlook and expectations for retirement. Will it convince you to retire early or has the experience been the opposite for you? Retirement is a choice while quarantine is a mandate; still the similarities…
Social Security checks could get a surprise boost after all in 2021
In most years, Social Security recipients receive a cost of living adjustment (COLA) designed to counteract the effects of inflation. Food, energy, and other items that households purchase or consume with regularity are used to determine the Consumer Price Index for…
Public Service Announcement – Recapping the Stimulus Checks for Social Security Recipients
So much has been posted here and on numerous news sites across the internet about the details of economic impact payments (stimulus checks) being issued to Americans. Likewise, the question of whether and how Social Security recipients are receiving stimulus checks has…
Can Debt Collectors Steal Your Stimulus Check?
Yes, debt collectors CAN take your stimulus check, and they appear to be grabbing stimulus funds in order to satisfy people’s past debts. It appears to be legal due to the way Congress set up the stimulus check program — but as Dan…
CARES Act 2020: Retirement Fund Access & Student Loan Relief
The over $2 trillion CARES Act has a number of favorable provisions for students and seniors, but most specifically related to required minimum distributions (RMDs) and loans from a 401k plan. Below are four things to know, as put together by…
13 steps to take if you lost your job in this pandemic
With so many millions out of work and more expected, it can be daunting to know what to do and how to cope. This piece by Sarah Foster posted on bankrate.com provides 13 steps to take, starting with filing for…
37 States Don’t Tax Social Security Benefits
Christy Bieber states one of the best and easiest ways to make your Social Security benefits go further is to live in a state that doesn’t tax them. There are currently 37 such states, and West Virginia will soon make the list…
40% of Near-Retirees Don’t Realize Social Security’s Troubles
Maurie Backman notes it is “a dangerous thing to be in the dark about.” She is talking about the almost 40% of near-retirees aged 55-65 who are unaware that future Social Security cuts are on the table, per a recent survey by MassMutual. Of…
COVID-19 to bring Social Security’s day of reckoning closer than we thought
Paul Brandus of MarketWatch is out with an opinion piece suggesting what a number of experts are now beginning to say, namely that the current pandemic will move up the insolvency date of the Social Security program, originally pegged at 2034-2035. …
Another quick primer on stimulus checks for Soc Sec recipients
Social Security recipients WILL get $1,200 per person stimulus payments if their incomes are below $75,000 for singles and $150,000 for married couples. However, you cannot be claimed as a dependent on someone else’s tax return. No recipient needs to file a…