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An exception to the Social Security payment schedule
By Aliss Higham on May 24, 2024 for Newsweek Social Security payments are very consistent with the payout dates. Supplemental Security Income payments are deposited on the first of the month. Retirement benefits are paid on the 2nd, 3rd, and…
WEP & GPO From a Financial Advisor’s Perspective
Financial Advisors frequently deal with questions and concerns from clients regarding their public-service pensions and how they might be impacted by Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). And with the current push for repeal of…
Standing Up for the 401k…They’re Not as Bad as Some Suggest
Many folks now in or soon to be in their retirement years have accumulated a substantial nest egg as a result of having access to tax-deferred savings plans, like 401ks. It’s probably fair to say that without the incentive of…
A Glimmer of Optimism in the Retirement Planning Picture, Perhaps?
Financial security in retirement is a major concern in the minds of many workers looking toward that life phase. So much of the news over the past few years has been gloom and doom, with Social Security’s looming insolvency and…
Using Social Security Video Connect to do Business with SSA
In a continuing effort to improve interaction with the public, the Social Security Administration (SSA) now makes available a service enabling callers to conduct business using video on personal devices, from their preferred location. Called “Video Connect,” there are a…
Social Security Insolvency Alarm Bells – Peterson Foundation Weighs In
With increasing frequency, the significance of Social Security’s steady slide toward insolvency is showing up in the news. A blog post by the Peter G. Peterson Foundation (click here to read in full) is a recent example of a respected…
Dealing With Inadequate Retirement Savings and the Potential for Social Security Changes
Many media reports have dealt with the inability of many Americans to accumulate a financial cushion for their retirement years. With so many retirees needing to rely heavily on Social Security benefits to get by, and with inflation steadily eroding…
Nationwide 401(k) Dashboard Proposed by GAO
With 401(k) plans encompassing more than $7 trillion in retirement savings for over 92 million Americans, it would be an absolute understatement to say that management of an asset level of this magnitude is important. For individuals, especially those with…
A Quick Refresher on Getting the Most Out of Social Security
The maximum Social Security benefit as of this year is approaching the $5000 mark, but it’s unlikely that many beneficiaries will reach that level of payout. In fact, the average benefit for 2024 is $1,907 after the 3.2% cost-of-living adjustment…
Your Monthly Social Security Benefit Payment–the Benefit of Waiting
One of the reasons often cited for claiming Social Security benefits at the earliest opportunity is the rumor of the program’s impending “bankruptcy.” With the proliferation of explanations hitting the media in recent weeks, it’s hopeful that the false assumption…