Latest News
H.R. 82’s WEP-GPO Repeal – A Misguided Effort?
With the possibility of a floor vote on H.R. 82 (Social Security Fairness Act of 2023) before the end of the current congressional session, it’s crucial that the general issue of fairness be explored from a complete perspective. In a…
A Quick Video Review of Social Security Disability: How You Qualify, How it Works, etc.
Social Security’s disability income (SSDI) provisions, a feature added to the program in 1956 and now providing over $150 billion in benefits annually, is a safety net for many folks encountering serious illness or accidental situations affecting their ability to…
Considering Income Tax Rates in Retirement
Many of us have looked to retirement as a time when we become free–well, more free–of the federal income tax burden we carried during our working years. For many retirees, that is the case, But for higher earners and those…
Generation X: Rebounding From the Perceptions of a Retirement Savings Crisis?
Recent media accounts of the impending financial crisis facing future retirees have focused on perceptions that today’s workers are not accumulating the level of financial reserve needed for a “comfortable” retirement. The constant refrain has been, ” Save more!” and…
Understanding RMDs and the Impact on Retirement Financial Planning
For many folks, it’s that time of the year when the issue of required minimum distributions (RMDs) from tax-preferred retirement savings plans (IRAs, 401ks, etc.). One consistent word of advice from financial planners, of course, is DO NOT FORGET to…
Social Security and Your Housing Costs – Some Key Things to Know
Many seniors grapple with the budgeting process, faced with a fixed income and an annual Social Security benefit cost-of-living adjustment that may not completely compensate for general price increases. Since housing costs are a substantial part of the overall financial…
Retirement Strategies: Thining About a Bridge Strategy to Maximize Monthly Benefits?
While it may not work for everyone, using a “bridge” strategy to align IRA redemptions with Social Security claiming decisions might offer a pathway to higher monthly benefits in later years. Deferring the decision to claim Social Security benefits is…
SSA Releases 2024 Veteran-related Statistics
In a post issued yesterday by the Social Security Administration, we find that Veterans account for roughly 13.5% of all beneficiaries. The average monthly benefit for those 7.7 million Veterans now stands at $1,879, with about 5.9% falling below federal…
Attention Veterans: SSA Provides Extensive Support
Veterans Day is fast approaching, so now’s a good time to refresh your knowledge of the Social Security Administration’s services available to military Veterans and those on active-duty. A public service announcement posted on theportlandbeacon.com provides information on these services…
Senirs’ Growing Reliance on Social Security Benefits
The steadily eroding financial future of Social Security is popping up more frequently these days in a wide range of media outlets, and there’s no doubt that Congress’s strategy of kicking the can down the road is nearing its end.…