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Half of Retirees Considering a Return to Work Over Skimpy COLA
Maurie Backman writes here that her employer, The Motley Fool, surveyed 2,000 retirees to get their thoughts on 2025’s Social Security COLA. And the results were eye-opening. A solid 54% of respondents said they think next year’s COLA, which will be 2.5%,…
Little Known Rule of 55 Can Help Fund Early Retirement
With Social Security still seven years away at the very least, how can people aged 55-60 retire early using their retirement funds if they cannot even access them penalty free until 59½? Enter the Rule of 55. This Kiplinger.com piece…
The #1 Reason to Claim Social Security at Age 62
Folks need to understand they will take a 30% benefit cut by claiming Social Security at age 62, the earliest possible age, over their full retirement age (now 67). But Christy Bieber notes you’ll want to claim at this age…
The 2025 COLA is not as bad as it seems
Few people are getting giddy about receiving a 2.5% cost of living increase (COLA) for the upcoming year. But as Maurie Backman explains, it is indeed a sign of cooling inflation. Prices are increasing much more slowly, and that is…
Over half of Future Retirees Risk Losing Some Social Security Benefits
Christy Bieber explains that many retirees who plan to work before reaching full retirement age (FRA), which is now 67, while on Social Security may not realize the impact this can have on their monthly benefits. These work limits adjust…
Can Social Security reform be done relatively fairly?
If Congress does not change the law, the Social Security Trust Fund will be exhausted by 2033, and at that time, benefits will be cut by 21 percent. Changes to Social Security are coming no matter what, but what if…
Sign up for Medicare Part B Online, by Fax, or by Mail
Medicare’s Open Enrollment Period is underway through December 7. This is an annual opportunity for people with Medicare to review their coverage and, if needed, make changes to their plans. If you already have Medicare Part A and want to…
The 2025 maximum Social Security benefit
The 2025 cost-of-living adjustment (COLA) of 2.5 percent will increase the average monthly benefit from $1,927 to $1,976 per month, a $49 increase, according to the Social Security Administration. However, the maximum Social Security benefit for 2025 will increase from…
Why did we drop in the global ratings?
Why is the United States retirement system getting a C+ rating from the latest Global Pension Index? The report says the U.S. system received a C+ ranking due to risks and shortcomings that should be addressed. What are these risks, and…
Remember to figure in Medicare into your equation
The Social Security Administration announcement of the 2.5 percent 2025 cost-of-living adjustment (COLA) has some people calculating their increase to their monthly benefit amount before they know one other increase that is due to be announced. What is this other…