seniors
Times are tough!! Take Advantage of these Savings Tips
Times are, indeed, tough for many Americans, with inflation still inexorably nudging the price of everything we buy even further up. But, there are still opportunities out there to save – as explained in this Yahoo! Finance article by Andrew…
Will the Annual COLA Increase Ever Be Enough?
All Social Security recipients received a historically high 8.7% Cost of Living Adjustment (COLA) for 2023, yet a recent survey found that over half felt that wasn’t enough. And this year’s 3.2% COLA will likely receive the same reception from…
Enemy of Social Security Reform? Public Apathy
Despite all the media warnings about Social Security solvency and possible across-the-board benefit cuts in about a decade, a recent Gallup poll suggests that 53% of Americans still think they’ll get everything they’re entitled to when it comes time for…
Allow “Phasing In” Social Security Benefits?
In this interesting opinion piece, one erudite expert suggests that Social Security should offer an option to allow phasing into retirement. This would be done by permitting one to first collect only a portion of their Social Security benefit early,…
Will Your Social Security be Taxable?
In response to threatened revenue shortfall for Social Security in 1983, Congress enacted a law which required those with incomes over particular thresholds to pay income tax on half of their Social Security benefits. The thresholds set in 1983 were…
When Should you Claim Social Security?
There’s no single answer to that question, but there is one very important factor which is crucial for you to know when deciding, and that is your full retirement age (FRA). You FRA varies depending on the year you were…
Is Even Discussing Fiscal Sanity a “no no?”
Is the partisan divide in Congress so great that even entertaining ideas to deal with the ever burgeoning national debt is an unacceptable concept? Or is discussing reform of programs which will soon become insolvent (Social Security and Medicare) completely…
Ten States which may Tax your Social Security benefits
Check out the accompanying article about federal income tax on Social Security benefits, and then read this one which reveals that some U.S. states also levy income tax on Social Security benefits. Although most states don’t tax retirement income, there…
Federal Income Tax on Social Security Benefits
That historic 8.7% Cost of Living Adjustment (COLA) last year was a welcome addition to everyone’s monthly Social Security benefit, but some beneficiaries may be in for a surprise when they file their 2023 taxes this year. A portion of…
“Common Law Marriage” and Social Security
Social Security’s rules regarding spousal benefits are quite clear – to be eligible for benefits based on their partner’s lifetime earnings history, the couple must be “married.” It’s the definition of “married” which often catches people applying for Social Security…