seniors
Is delaying your benefits worth it?
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But, if you delay taking your benefits from your full retirement age up to 70, your…
Is it an under-saving issue or a retirement crisis?
Do Americans have a retirement crisis or an under-saving for retirement issue? According to the Boston College Center for Retirement, their research shows almost 40 percent of working-age households cannot maintain their standard of living in retirement. However, 80 percent…
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Should you go back to work if your Social Security benefits aren’t keeping up?
When Social Security recipients were asked in a recent survey if the most recent COLA increase was sufficient, 62 percent of respondents said no, and 44 percent said they were considering returning to work to boost their income because their…
Good news and bad news for retirees
What will the 2025 COLA be? We will not know until mid-October when the Social Security Administration releases the amount based on this year’s third-quarter inflation figures compared to the previous year’s. However, that has not stopped experts from estimating…
Average Social Security Earnings in 2024
The average Social Security income shows why retirees need to also depend on other income, such as savings or (hopefully) a pension. Social Security as only meant to cover about 40% of post retirement expenses, as explained in this article…
Smart Ways to Save for Retirement
Information provided by Becca Stanek for The Week US published on July 8, 2024 on how much you will need in your retirement years. Several different strategies and suggestions are given depending on your own situation and age. Read here……
Need to have an honest conversation about Social Security
The presidential candidates are promising to preserve Social Security, but the reality is that if Congress does not take action by 2035, seniors will see a cut to their benefits. When discussing the Social Security insolvency issue, many myths about…
Does your state tax your benefits?
The IRS determines your federal tax bill based on your combined income, which includes your AGI, any nontaxable interest, and half of your yearly Social Security benefits. However, only a handful of states tax your Social Security benefit. What states…
SSI rules are out of date
The Supplemental Security Income (SSI) program provides monthly payments to adults and children with disabilities or blindness whose income and resources are below specific financial limits. SSI payments are also made to people aged 65 and older without disabilities who…