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A new year but the same solvency issues linger
A new year, but the same old problems linger. Social Security continues a problematic path with looming insolvency and benefits cuts as soon as 2033; that is only eight years away. What about Medicare? Medicare Part A (Hospital Insurance or…
Have you already paid your taxes for 2025
In the wee hours of New Year’s Day, over 229 Americans had already paid their Social Security tax for 2025. Compare this to the 164 million Americans who pay Social Security tax all year long. If there were no cap…
Don’t forget these changes for 2025
One of your New Year’s resolutions may have been to set your financial goals for 2025. One item you will need to remember is the annual changes to Social Security, which will impact your finances. Charlene Rhinehart has outlined three…
Musk and Social Security
Congress needs to make a Social Security resolution in 2025. The road to insolvency looms closer than ever. Can Musk help this process along? Read this article by Daniel McCarthy for New York Post here… As an example of the…
Will Biden Sign HR 82 into Law?
HR 82, the Social Security Fairness Act, has been passed by Congress and is now sitting on Biden’s desk waiting for a signature for it to become law. The President has until Monday to sign it, which is January 6th.…
A Common Social Security Mistake
It is well known that, if Congress fails to act, the Social Security Trust Fund will be depleted by 2035. This has caused some anxiety among upcoming retirees about when to take benefits. Those who take benefits at 62 are…
U.S. Dept. of Labor Announces Retirement Plan “Lost and Found” Search Tool
Source: https://lostandfound.dol.gov/ EBSA (Employee Benefits Security Administration) is helping America’s workers and beneficiaries search for retirement plans that may still owe them benefits by establishing a public Retirement Savings Lost and Found Database through the SECURE 2.0 Act of 2022. …
2025 Brings With it Several Key Changes
By now, everyone receiving Social Security retirement-related benefits is likely aware of the 2.5% increase scheduled for January 2925. That’s a welcome adjustment for millions of folks, despite the general criticisms about its inadequacy to cope in full with rising…
Rumor Mill in Operation: Thune/Musk Did Not Put a Target on Social Security
As the public’s interest in Social Security’s financial plight, we can expect to see a range of commentary about plans to address the looming insolvency problem. Some will be true and accurate, and some will not be, as discussed in…
Forget Social Security COLAs. Combat Inflation in Other Ways
Charlene Rhinehart’s main point in this piece is to aggressively plan ahead so one is never reliant on Social Security cost of living adjustments (COLAs) to make ends meet. Her suggestions are these: Beef up retirement accounts; Build a dividend…