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Planning for your retirement
Some would argue that you should start planning for your retirement when you first start working. Though it’s doubtful that many do, it is nevertheless an excellent idea, because the sooner you start executing a retirement plan, the easier it…
COLA bump for 2020 means higher Social Security and SSI payments
The Social Security Administration recently announced that the Cost of Living Adjustment (COLA) for 2020 will be 1.6%. That means that those receiving Social Security benefits, as well as those receiving Supplemental Security Income (SSI), will see a 1.6% raise…
Scam calls ramp up during Medicare Open Enrollment
Never a dull moment in the world of the telephone scammers! Although unsuspecting people experience scam telephone calls all year long, it seems that Medicare’s open enrollment period, which we are now in, is “prime time” for such calls. And…
Want a bigger Social Security check? Here’s how to get it
Social Security is a highly complex topic, but when it comes down to the basics there are only a few things you can do to make your benefit checks bigger. Two things in particular – work at least 35 years to make sure…
What you need to know about Medicare coverage while traveling
Choosing which Medicare plan you should take can be confusing and difficult, considering all of the various options available to you – “original” Medicare, multiple Medicare Advantage plans, “Medigap” policies, prescription drug plans, etc. But now, during the Open Enrollment…
A case for claiming Social Security at 70
One of the other articles posted today makes a case for claiming Social Security benefits at age 62. In an interesting dichotomy, this article suggests that if you want to live a comfortable life in retirement, waiting until age 70…
A case for claiming Soical Security at 62
In this Motley Fool article by columnist Christy Beiber, the author makes a case for why she plans to claim her Social Security at age 62. Three primary reasons are cited – that the program is designed to pay out the…
Workers unnecessarily fear Social Security’s demise, but should save more for retirement
According to this Motley Fool article by Maurie Backman, quoting a recent study, about 71% of American workers fear that Social Security won’t be there for them when they retire. Explaining that the fear is an unfounded myth, the author…
California DMV gives “inappropriate access” to Social Security data
Already under fire locally for shoddy service, the California DMV now reveals that Social Security information for about 3,200 drivers was “inappropriately” released to a number of local county and federal agencies. This was not a data hacking incident, but…
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…