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The “Hold Harmless” provision and Medicare premium increases
As most who collect Social Security know, their Medicare Part B premium is automatically deducted from their Social Security payment. And with all the news about a COLA increase in 2018, little has yet been said about any potential increase…
The COLA increase: A historical perspective
Social Security’s cost of living adjustment, or COLA, is getting a lot of high visibility press these days following the Government’s recent announcement that Social Security recipients will be getting a 2% raise starting in 2018. Some reports have projected that…
High earners will pay more FICA tax next year
Social Security recently announced that in 2018 the so-called “wage cap”, the amount of wages that you pay FICA tax on, will be going up by $1,500 to $128,700 (from $127,200 in 2017). What that means is that all those…
Is Age 63 the New Age 62 to File for Social Security Benefits?
When you think of applying for your Social Security benefits, you are generally looking at an eight-year age range that begins at 62 and ends at 70. Although 62 is the most common age for enrollees to start collecting benefits;…
FICA tax will Apply to Salary up to $128,700 in 2018
The Social Security withholding or “ FICA” tax of 6.2 percent will apply in 2018 to salary up to $128,700 which is an increase of $1,500 from last year’s amount of $127,200. Read article here… Notice: The link provided in the…
Tips For Enrolling in Medicare
Medicare can be confusing but the attached article list six tips for finding your way through the program’s terminology and the rules so you can get all the Medicare benefits to which you’re entitled. Read article here… Notice: The link provided…
Knowing How Much Working a Few Extra Years Adds to your Retirement Income
The government still calculates your Social Security benefit based on 35 years in the workforce, so it’s important to consider how early retirement will affect your benefits. The attached article reviews how the government calculates your Social Security benefit and…
Changing Your Mindset On Your Money As You Transition into Retirement
Transitioning into retirement requires you to take a completely different mindset with your money. To make sure your money is really there to cover your costs when you need it. Read article here… Notice: The link provided in the text above connects…
Individuals with a Retirement Plan Greater Likelihood that Actual Expenses Resemble Anticipated Expenses
Recent research indicates consumers who conduct retirement planning activities prior to retirement have a greater likelihood that actual expenses resemble anticipated expenses. Read article here… Notice: The link provided in the text above connects readers to the full content of the referenced article. The…
Earnings Restrictions Apply to Survivor Benefits
Most people are aware if you claimed Social Security benefits before full retirement age and you continue to work, your wages can be reduce or eliminate your retirement benefits if you exceed certain thresholds; but did you know that the…