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The Payroll Tax Cap and the maximum Social Security benefit
The payroll tax cap is the point at which you no longer need to pay Social Security FICA tax on your earnings which, for those in the higher income brackets, means they get an increase in their net pay when…
Staying ahead of inflation in retirement
Inflation is a quirky thing. That it has cruised along at a relatively low rate for a number of years now shouldn’t lull us into thinking that couldn’t change. One of the effects of low inflation is a correspondingly lower…
Social Security: Fulfilling a lifetime promise
In this informative Morning Call article from Social Security spokesperson Nichole Tiggemann, the author explains how Social Security is with you from birth through retirement, not only for your own benefits but also for your dependents and survivors. The article…
At what age should you claim Social Security?
For many, when to claim Social Security is not at all a well thought out strategy. Far too many simply apply as soon as they are eligible “because it’s there.” On the other hand, some seniors, aware that the longer…
The fallacy of Presidential candidates’ Social Security plan
As part of their campaign promises, Presidential candidates Bernie Sanders and Elizabeth Warren are proposing significant increases in Social Security benefits for all beneficiaries. According to the candidates, their proposals are based upon a principle that it’s too hard for seniors…
A new twist on Social Security scams
Scams about Social Security and the IRS have been around for quite a while now and we frequently warn of them on this website. The latest twist is scammers who call and claim to be able to either suspend or…
It’s time to review your Medicare Advantage and Part D Prescription Drug plans
Medicare’s Open Enrollment period is upon us. Open enrollment is the period of time between October 15th and December 7th when you have the opportunity to review, and change, your enrollment in “original” Medicare, Medicare Advantage, and Part D prescription drug…
Newly proposed WEP legislation portends Social Security’s future
The Windfall Elimination Provision (WEP) reduces Social Security benefits for over 2 million government retirees with pensions from Federal, State or local government employers who didn’t participate in (contribute to) the Social Security program. Those affected worked enough outside the…
How to Increase your Social Security benefit
For most Americans, Social Security will play an important, if not crucial role in their retirement plan, so it makes a lot of sense that getting the largest benefit possible should be a part of your retirement planning process. The rules are…
Becoming a parent again when you are near retiring
There are roughly 2.6 million grandparents who are the primary caregivers for grandchildren in the U.S, according to Generations United, a nonprofit inter-generational advocacy group. Becoming a parent again is not one of the expenses discussed with near-retirees, but the…