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How Scary Will The Upcoming COLA Drop Be?
“Sometimes the COLA [cost of living adjustment] works in the favor of Social Security recipients, and sometimes it doesn’t.” So says Vince Cariaga in this piece. With the latest inflation rate at 3% according to July data, Social Security recipients…
HSA for non-medical expenses
An HSA is not an option for everyone, but if you have one, you can grow your balance by investing. The investment gains in your HSA are tax-free as long as the withdrawal of those funds pays for medical expenses.…
Retirement has always been fragile for low-income workers
An analysis by the U.S. Government Accountability Office found: “Only 1 in 10 low-income workers between the ages of 51 and 64 had any funds put away for retirement.” The study also found while poor workers lost ground, high-income workers…
There is plenty of concern about Social Security among current retirees.
The Social Security program is vital to many Americans who depend on it in retirement. However, the Social Security Trust Fund reserves are running out of money. When that happens, Social Security will only be able to pay about 80…
The retirement gap
One question facing American workers is: How much do I need to save for retirement? According to the latest survey from Charles Schwab, the average amount participants said they would need to retire comfortably is $1.8 million. Compared to the…
The Real Costs of the New Alzheimer’s Drug, Most of Which Will Fall to Taxpayers
(By Arthur Allen for KFF Health News) The first drug purporting to slow the advance of Alzheimer’s disease is likely to cost the U.S. health care system billions annually even as it remains out of reach for many of the…
Before you file for Social Security
The fear of running out of money in retirement is a rational one. After all, you have spent your entire career making and saving money, but even that may run out. However, you will receive your Social Security benefit for…
Guiding an Improved Dementia Experience
The Centers for Medicare & Medicaid Services (CMS) announced its new dementia care model. The model, Guiding an Improved Dementia Experience or (GUIDE), will be tested by the CMS Innovation Center as part of an initiative for Increasing Access to…
Seven reasons for nest egg disparities
A new report from the Government Accountability Office found the retirement savings balances of high-income households were nine times higher than middle-income households. Although income and race are two factors for the substantial balance increases for high-income households, other factors…
When you’re able to retire on schedule
Starting your Social Security retirement benefits is a major step on your retirement journey. You can begin your retirement benefits as early as 62 or as late as 70. If you start your Social Security benefits as early as 62,…