seniors
The path to the highest possible Social Security check
What does it mean when someone says they have maxed out their Social Security check? It means no matter how much money they made during their career, they cannot receive a Social Security check higher than $4,873 per month. Yes,…
Aim to be less reliant on Social Security COLAs
The official 2025 COLA will be released by the Social Security Administration (SSA) in mid-October 2024, usually around October 15th. However, the announcement may not be what seniors are hoping for. Why? Experts estimate a lower COLA than the previous…
Ask Rusty – Does Some of my Social Security Payment Include Repayment of my Contributions?
Dear Rusty: I have a question about my Social Security benefits. Would I be correct to assume that part of the monthly Social Security income I get is a repayment of what I contributed to the fund while I was…
Social Security rules have been consistent for the last 40 years
If you are new to Social Security the rules can seem complicated and confusing, however, there have been hardly any changes at all since 1983. The basic rules, spouse benefit rules, survivor rules and disability rules are unchanged. So, once…
Trump: No income tax on Social Security
Timothy Nerozzi of Fox News reports on news that Donald Trump made related to Social Security this week. Income tax on benefits draws the ire of seniors nationwide, especially since more are ensnared each year by the low thresholds that…
Unexpected costs in retirement
Planning for your retirement is not easy. You must not only account for the costs of everyday things such as housing, insurance, and traveling but also those unexpected costs you may encounter during your retirement that may impact your financial…
Adults are worried
Americans are worried. According to the latest Gallup poll, three-quarters of adults aged 65 and younger said they are concerned about Medicare, and 80 percent said they are worried about Social Security benefits. The poll also found the respondents “make…
Social Security special minimum benefit program
Social Security special minimum benefit program is a special minimum primary insurance amount (PIA) enacted in 1972 to provide adequate benefits to long-term low earners. For individuals with a long history of low earnings, the special minimum benefit could be…
Social Security’s Office of the Inspector General Releases Scam Report to Congress
(Source – blog/ssa/gov) Social Security’s Office of the Inspector General (OIG) recently released its quarterly Scam Report to Congress. The report provides information about scam trends in the second quarter of Fiscal Year 2024 (January 1 — March 31, 2024).…
Payment plan for drugs in 2025
One of the many changes the Inflation Reduction Act (IRA) changed is how Medicare recipients can pay for prescription drugs. Medicare beneficiaries may choose to participate in a program that will spread the costs across several months instead of being…