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COLA’s 2%…What’s the net benefit to seniors?
While 2% is certainly better than nothing, let’s not get too excited. That $27.42 average monthly increase, when netted against expected increases for many Medicare beneficiaries, could result in a closer to break-even point. The Motley Fool’s Sean Williams, in…
Don’t let fraud hurt your retirement finances
After working and saving for a lifetime, your retirement nest egg is an asset that you should spend a lot of time protecting from fraud. The unfortunate reality is that their are a lot of criminals out there who will do…
Don’t fall for scams about new Medicare cards
There has been a fair amount of publicity about Medicare issuing new cards which won’t include your Social Security number and that is a good step toward reducing the risk of identity theft. But there are still lots of scammers…
How delaying Social Security can get you a bigger check
Despite the fact that a majority of Americans claim their Social Security benefits before they reach their full retirement age (or “FRA”), delaying your application beyond your FRA will earn you delayed retirement credits to the tune of 8% more…
Some skeptical of what 2% COLA will mean to them
Friday’s announcement by the Social Security Administration that all beneficiaries will be getting a 2% cost of living adjustment (COLA) starting in 2018 was met by considerable skepticism by some of those affected. The increase, which for the average recipient…
Seniors a prime target for scammers; here’s how you can help
After the massive Equifax data breach on top of so many others, seniors have increasingly become a prime target for criminals who will use ever more inventive techniques to separate senior citizens from their money. The majority of scams originate from a telephone…
Social Security advice on retiring abroad, applying for benefits, and others
In this Detroit Lakes Online article, columnist Patty Hoffman provides information from the Social Security Administration (SSA) on how, if you’ve decided to spend your retirement overseas, collecting your benefits would work. The rules are different, depending upon the country you…
The Social Security Number dilemma: How can it be fixed?
Breaches of personal information have become so commonplace that they’re often accepted with a “ho-hum” attitude, That is, until the massive hacking of 145 million Americans’ personal data, including Social Security numbers, at credit monitoring and reporting service Equifax. The…
2018 COLA increase likely to be consumed by Medicare premium
Yesterday’s announcement by the Social Security Administration that there will be a 2% cost of living adjustment (COLA) in 2018 was certainly good news for millions of Social Security recipients, but it’s an open question as to whether beneficiaries will actually see…
Today’s retirement about more than just money
Unfortunately, far too many people don’t even think about engaging a professional retirement planner and coach, because they think they can figure their retirement out on their own. The reality is that there is often a dark side to retirement, the…