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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…
4 Reasons Social Security Might Pay You Less
Over 63 million Americans collect Social Security benefits, but many do not get their full due because of mistakes they have made or misunderstandings about the rules. Maurie Backman explains four ways your benefit could get reduced. First, you file…
Low COLA forecast for 2021
Brace yourself. The good news of $1.00 per gallon gas translates to a bad summation of overall inflation. And that means Social Security recipients are likely looking at less than a 1% cost of living adjustment (COLA) for 2021. The announcement is still…
Too many Americans lack an understanding of Social Security
Social Security is a complex program for sure, but Katie Brockman details some stunning results from a recent MassMutual report. Researchers asked a series of 12 true-false questions regarding Social Security to Americans age 55-65 who had not yet started claiming benefits. Results…
Retire early, if you can
It may be mind numbing to try to figure out when to retire with so many experts saying to either wait as long as possible or to grab Social Security benefits the moment you’re eligible at 62. What should one…
The CARES Act Could Affect Your Jobless Benefits
Christy Bieber explains four broad areas related to unemployment compensation in the recently passed stimulus bill. First, many could get an extra $600 per week through July 31. Second, many could get an extra 13 weeks of benefits if they remain…
More should consider taking Social Security at age 70
A majority of Americans eligible for Social Security retirement benefits begin taking monthly payments at age 62, the earliest age possible. It’s likely many do not know they could wait until age 70. The payoff for waiting is huge. Kailey Hagen…