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Social Security Changes– Current & Future
Social Security undergoes yearly changes automatically, most tied to inflation. A cost of living increase is granted, and more income becomes taxable. Those changes and a few others like how much one can earn and still collect benefits are tied…
COLA Watch for 2024
Everyone’s waiting with bated breath for the cost of living adjustment (COLA) to be announced around October 12th or 13th by the Social Security Administration. The expected amount will likely seem paltry compared to 5.9% in 2022 and the 8.7%…
The Argument for Claiming at Age 62
Few experts advise beginning Social Security benefits at age 62 because they are smallest monthly benefit for life. Yet, a majority do claim then or just after that age. Stefon Walters explains there may be times when that is warranted.…
How to Cope With the Smaller 2024 COLA Coming
One thing is for sure. The 2024 cost of living adjustment (COLA) will be far more than half as much as the 8.7% rate granted in January 2023. What to do? Maurie Backman explains what cooling inflation means for the…
3 Social Security Moves For Those Retiring Soon
Katie Brockman’s main point here is the best Social Security strategy is to begin planning before you actually retire. First, people should check their estimated benefit amount, easily done on-line with an account. Second, decide a claiming age, which can…
Getting that Elusive Social Security Max Benefit
Everyone wants to maximize their monthly Social Security check. But claiming at 62 will never allow for that. Waiting until 70 gets one the maximum benefit they are entitled to based on a 35 year work history. Working less than…
Why Claim Social Security at 70?
Very few do it. That is, begin Social Security benefits at age 70. Maurie Backman highlight two benefits. The obvious is the the highest permanent possible monthly benefit to which you’re entitle. The second reason is all the extra years…
Make These 6 Changes if Living on Social Security Alone
It was never intended to be a sole source of retirement income, and indeed, one cannot make ends meet with any level of comfort if trying to live on just Social Security. But, Jordan Rosenfeld says one will have to…
“Not a Dime.” The Young’s Pessimism on Social Security Explained
Selena Maranjian notes the bleak view the young have toward politics and Social Security. Studies have documented it for over a decade. According to the Nationwide Retirement Institute 2023 Social Security Survey, when shown the statement, “I will not get…
Women and Social Security
“The times, they are a-changing!” “The times they are a-changing,” Grandpa was fond of telling Grandma as they navigated through the Great Depression, the world changing around them on their small upstate NY farm. Although the Social Security Act was…