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Retirement Outlook Taking on an Increasingly Gloomy Perspective
The combination of inadequate savings and excessive debt is eroding optimism among future retirees, according to Pew Research Center reports. “40% of American adults don’t feel confident they’ll have enough income and assets to last their entire retirement…” says Moneywise…
How Extenzive are Social Security Benefits for the Higher Earners?
Most folks are aware that Social Security benefits are calculated using progressive formulas that replace a higher percentage of lifetime earnings for low-wage workers than for high-wage earners. This, of course, reflects the program’s intent to help keep low-income workers…
A Quick Update on Social Security Benefit Reduction History
With the potential for Social Security benefits looming in the near future, we thought now would be a good time to reflect on some history. Specifically, we’re linking you to an article posted on the Prescott News website by their…
Social Security’s steadily eroding base…and what it could mean to you
Social Security’s financial reserves — the cushion that, for the past few years, has enabled the program to pay scheduled benefits in full — are evaporating at an increasing rate. For example, in 2024, the program paid out $67 billion…
Highlighting the Inadequacy of Social Security’s COLA
Much has been written about Social Security’s annual cost-of-living adjustment (COLA) process and its inability to keep pace with the cost patterns seniors face. The Senior Citizens League, for example, reports on its website that “Social Security benefits have lost…
Claiming Social Security Benefits: Some Fundamentals that assess your readiness
It’s a big step… no doubt about that! Many folks aging into Social Security eligibility agonize over whether they are ready to pull the plug and claim their benefits, a decision that involves a range of factors. A post by…
Will your retirement plans survive contact with reality
You thought you were on track with your retirement planning. You worked with a financial advisor, you maximized your Social Security, and you were a savvy investor. However, according to a recent survey, only 40 percent of respondents who retired…
The latest 2027 COLA projections
The predictions for the 2027 Social Security cost-of-living adjustment (COLA) increase have begun. With the release of the most recent data from the Bureau of Labor Statistics (BLS), experts, including the Congressional Budget Office, have updated their forecast models. However,…
2026 filing season updates and resources for seniors
There are some changes for the 2026 tax filing season that people who are 65 years of age and older should be aware of. The most recent being the enhanced deduction for seniors, which is a provision of the One,…
7 Ways Veterans Can Protect Themselves From Scams
Veterans have served our country with honor and deserve to be protected from threats to their benefits and personal information. Unfortunately, scammers often pose as employees of the Department of Veterans Administration (VA) and contact veterans by mail, phone, email,…