seniors
Ask Rusty – We Were Bitten by Medicare’s IRMAA this year; What Should I Do?
Dear Rusty: My wife and I file our taxes jointly. In 2024, I took an IRA Required Minimum Distribution (RMD) which was significantly more than I was required to take. My Medicare premiums were not affected in 2025, and our…
Social Security’s silver lining is in play
A recent survey found that about 39 percent of retirees say Social Security provides “the entirety” of their income. The same survey found that 73 percent of seniors depend on Social Security for more than half their income. With so…
Should you wait until age 70 to claim Social Security?
If you follow these pages at all, you are already aware that you can claim reduced Social Security retirement benefits as early as age 62, or wait until you are 70 to claim your maximum SS amount. And, for the…
Today is Social Security’s 91st Birthday!
Although this article is titled somewhat pessimistically (will this be one of Social Security’s “last birthdays”), it includes an analysis by the Committee for a Responsible Federal Budget (CRFB) which is actually a very comprehensive evaluation of the financial issues…
About Claiming Social Security
In this short video on CBS Money Watch segment, business analyst Jill Schlesinger explains the fundamentals of claiming your Social Security benefits. She explains that claiming retirement benefits at age 67 will result in a 30% reduction of benefits, but…
Looking forward to 2027 COLA
This, the 3rd quarter of each year (July, August, and September), is the period of time that next year’s Cost of Living Adjustment (COLA) is determined. The average inflation rate over this 3 month period becomes next year’s COLA rate,…
An Important Question: When to Claim Social Security?
About 25 million American’s are between age 55 and 62, meaning that most in that age group are contemplating a very important decision they will soon need to make. As they approach Social Security’s “early eligibility age” (age 62), most…
“Medicare Advantage” plan participants experiencing disruption
“Medicare Advantage” plans are offered by private insurers and provide healthcare insurance coverage in lieu of traditional government-run Medicare plans (Medicare Part A, Part B, and Part D). Long touted as somewhat of a healthcare panacea, Medicare Advantage plans have…
Keeping Social Security on your Radar
Social Security is, of course, a benefit usually most treasured during your retirement years, but that doesn’t mean you should wait until you’re ready to retire to focus on Social Security. If you are now in your 40s (or even…
About Claiming Social Security Early due to Fear
By now, most seniors have heard that Social Security will be facing financial issues soon. According to the Trustees of the program, Social Security’s financial reserves will be fully depleted in late 2032 unless Congress enacts program reform soon. If…