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Whatever Happened to HR 82, the Social Security Fairness Act?
Aris Folley for The Hill on December 1, 2024 This legislation has been passed by the House through a discharge petition. There is some disagreement in the Senate, whether it is better to reform the WEP (Windfall Elimination Provision) and…
When to Expect Social Security Payments this December
By Suzanne Blake for Newsweek on December 2, 20024 Social Security payment dates vary depending on whether you are receiving retirement benefits, survivor benefits, or Supplemental Security Income. Holidays can also have an impact. For example, SSI recipients got their…
Trump tax cuts & Social Security
Laurel Wamsley of NPR examines Donald Trump’s pledges to do away with taxes on tips and Social Security as well as making his 2017 cuts permanent. First, only about 2.5% of all employed workers receive tips, and more than a third of…
Social Security– Vital Program For All
This FORBES piece by Mike Sylvester describes Social Security as the cornerstone of all U.S. safety net programs. Benefits account for approximately 30% of the income for individuals aged 65+ which is in line with the original intent. However, there…
Attention Retirees: Big Medicare Deadline Coming Up
Since many seniors live mostly on Social Security with the average recipient collecting just $1,924 per month, it’s important to make sure that money goes as far as possible. Thus it pays to take advantage of Medicare’s annual open enrollment period.…
Social Security “Do-over” rule explained
Maurie Backman explains a little known rule for those who regret claiming Social Security earlier than 70. The rule allows you to withdraw your application for benefits after you’ve filed, repay the money you collected, and file for Social Security…
Most Americans stop working around age 62— and not because they want to.
Aimee Picchi of Moneywatch cites a new research from the Transamerica Center for Retirement Studies showing the typical American retires far earlier than he/she expects to, and it’s often not by choice. The median retirement age in the U.S. is…
Retiring in 3 years or less? Do these 5 things with your money now
Christy Bieber writing here in Moneywise notes you must get ready and be in a good financial position if wanting to retire. Bieber stresses doing these 5 things beforehand: 1. Explore your health insurance options; 2. Get your cash flow…
What is and isn’t changing for Social Security in 2025
Maurie Backman reports here on changes that are occurring related to Social Security beyond the 2.5% across the board increase for beneficiaries. The earnings test also rises in 2025, meaning those working between 62 and 67 can earn more before…
Can you retire comfortably on Social Security alone?
Social Security replaces on average only about 40 percent of pre-retirement income. USA TODAY reached out to retirees across the country who are living mostly on Social Security, and asked how they were doing. The result is Daniel de Vise’s…