seniors
Social Security Insolvency: The News Got Worse
Many Seniors are already on edge about Social Security! If you pay attention to public media, you are surely aware that the Social Security Trust Funds are forecasted to run dry soon. Last year’s projection by the Trustees of the…
Will the Social Security Earnings Test Go Away?
Addressing an issue which has been a topic of Congressional discussion for quite some time, a legislative proposal known as the 2026 Senior Citizen Freedom to Work Act proposes to eliminate the penalty for those who exceed certain income limits…
Is Social Security Your Only Income?
If Social Security is your only retirement income, you may be eligible for other assistance. If you are disabled or do not qualify for Social Security, you may qualify for Supplemental Security Income (SSI). SSI is not Social Security, but…
Stress-test your retirement plan regularly
Retirement planning is not set in stone; things change, such as inflation and changes in tax policy; however, some things don’t. Many retirees overlook the cost of healthcare and long-term care in retirement. Jonathan Ponciano, writing for Investopedia, asks if…
Americans retirement savings plans
The Board of Governors of the Federal Reserve System stated in its 2025 report that “Sixty-seven percent of adults had assets that are specifically designated for producing income in retirement.” These findings are echoed by Fidelity’s 2026 State of Retirement…
How Social Security could change your future
It’s essential to recognize that Social Security is designed to replace approximately 40 percent of the average worker’s pre-retirement income. However, approximately 21.8 million seniors rely solely on Social Security for their income, while nearly three-quarters of seniors depend on…
So you made a filing mistake, now what
You can begin your Social Security benefits as early as age 62. However, you will receive a permanent reduction in your monthly benefit amount. The reduction is based on the number of months you claim benefits before reaching your full…
The Case for Lifetime Income
Although retirement savings have grown, most systems still leave individuals to manage the risk of outspending or outliving their savings on their own, according to the “The Case for Lifetime Income” research paper by the Prudential/Global Aging Institute. “Retirement security…
Shifting away from saving to spending in retirement
Retirement planning is not always about hitting a specific number, but it’s about creating certainty. “For decades, retirement planning has centered on reaching a specific account balance, but as clients near retirement, that benchmark often fails to address a more…
Will the 2027 COLA be bad news for retirees
Social Security’s COLA is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the previous year to the third quarter of the current year. It will…