retirement
Will your Social Security Benefits be Enough to get by ?
Social Security benefits vary greatly depending on your career earnings. Will even those being paid the highest benefits have enough? Since Social Security is designed to replace approximately 40% of your income, probably not. Read this article by Christy Bieber…
Making That All Important Decision – When to Claim Social Security Benefits?
The attached article by Stefon Walters on June 2, 2024 for The Motley Fool has information to help guide this decision. First, know your Full Retirement Age and how your benefits are affected by starting before or after that Age.…
How could Social Security Insolvency affect your Retirement?
This report by David Fei published on June 3, 2024 for FedSmith.com contains information on this very topic. Perhaps it’s a good strategy to take the potential reductions to consider in your retirement planning. Social Security will always pay benefits.…
The So-called Social Security “Apocalypse”
“Apocalypse” and “Doomsday” are words which have been used to describe Social Security’s looming financial issue, but both words are not an accurate way to described the problem. According to this FOX29 article by Heather Miller, it would be more…
Surprise! 2025 COLA Won’t Offset True Inflation
Inflation is an insidious thing – inexorably creeping prices for most everything we buy. And while there is often a lot of hoopla about how Cost of Living Adjustments (COLA) are designed to help seniors keep up with inflation, the…
Early Prediction of 2025 Cost of Living Adjustment (COLA)
It’s way too early to say with any degree of certainty what next year’s COLA will be, but it’s still interesting to take a look at what might be. Inflation, of course, is the driver of any COLA increase to…
All About Taxation of Retirement Benefits (including Social Security)
Ben Franklin once said, “Nothing is certain but death an taxes.” Especially at the Federal level, taxation of your income may be inevitable, but the story is considerably different when it comes to State income taxes. The fact is, that…
Prescription Drug Plans Cutting Coverage
Medicare – the nation’s main healthcare plan for seniors – doesn’t include coverage for prescription drugs (unless administered during a hospital stay). Although usually called “Medicare Part D,” all such plans for coverage of prescription drugs are provided by private…
Options for Restoring Social Security to Solvency
It’s certainly no secret that Social Security will be facing some serious financial difficulty in about ten years – that fact has been all over the media for a few years now. The stark reality is that reform of the…
Retirement Savings: How do yours compare to others?
Just about any article you read about retirement planning will encourage you to build your nest egg as big as you can before retiring, because Social Security alone likely won’t be enough to sustain you in your golden years. Across…