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Who Taxes Social Security Benefits?
It’s a rude awakening to find out you owe federal income tax on some of your Social Security benefits. Since the thresholds were never indexed for inflation in 1983 and 1993, more taxpayers are ensnared each year. But thirteen states also…
3 Retirement Numbers You Absolutely Must Know
Katie Brockman cites a survey from Northwestern Mutual that nearly 50 percent of Americans report feeling anxious, insecure, or even scared about their finances. She notes that knowing three critical numbers is the key to a secure retirement. First is knowing…
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…