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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,…
How Do Dual-Eligible Individuals Get Their Medicare Coverage?
(By Maria T. Peña, Maiss Mohamed, Jeannie Fuglesten Biniek, Juliette Cubanski, and Tricia Neuman for Kaiser Family Foundation Published: Jul 31, 2023) Medicare and Medicaid provide health coverage to 12.5 million individuals who are enrolled in both programs, known as…
Top 10 best states to retire in
When you picture your retirement, is it full of swaying palm trees and tropical breezes? However, you may be changing your mind based on the latest Bankrate study on the best state to retire to. Every year Bankrate looks at…
What to do if you have not received your check yet?
In 2023, an average of almost 67 million Americans per month will receive a Social Security benefit, totaling over one trillion dollars in benefits paid during the year. What happens if it is the end of the month and you…
Places that make retirement feel like a vacation
Many people feel that retirement should be treated like a vacation, a time to rejuvenate your body, mind, and soul. Discover new passions or devote more time to passions or hobbies you already have. You may be thinking of relocating…
Using your personal mySocial Security account
A free and secure my Social Security account provides personalized tools for everyone, whether you receive benefits or not. You can use your account to request a replacement Social Security card, check the status of an application, estimate future benefits,…
The two events that could reduce your Social Security Increase in 2024
The Social Security’s Cost-of-Living Adjustment (COLA) is to ensure that the purchasing power of Social Security benefits does not erode by inflation. COLA calculation is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and…
The $20 Trillion Social Security Solution
Jacob Wade recaps the Social Security Trustees warning that benefits will only be payable at 77% starting around 2033 unless reforms are made. The usual mainstay is to raise payroll tax rates and/or the wage cap so more earnings are…
Collecting Social Security– The Million-Dollar Decision
Barbara Corcoran, the celebrity of Shark Tank Fame, says “Collecting Social Security as a household is a million-dollar decision. Before you collect, you need to make sure you analyze [your options] and have a collection strategy that benefits your retirement…