seniors
The newest COLA estimate
The Bureau of Labor Statistics reported the March 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.5 percent over the last 12 months. Based on this announcement, the Senior Citizens League has estimated the cost-of-living…
House Ways and Means Committee to Hold Hearing on WEP and GPO
On Tuesday, April 16th, the U.S. House Ways and Means Committee will hold a hearing on bill H.R. 82 – the Social Security Fairness Act. This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits,…
Medicare rules for Hospice payment affects decisions for those with Dementia
For people with dementia support is needed far before the end of life. Hospice is intended for those who have no more than six months left to live. Since enrolling in Hospice ends the availability of specialist care or hospital…
Retaining older workers
In his annual letter to investors, BlackRock CEO Larry Fink addressed the issue of America’s lack of retirement savings and the aging workforce. Mr. Fink challenged “HR departments to find ways to hire and retain older workers, but also help…
What one more year will do for you
Satisfaction with their jobs was the main reason why 10 percent of retirees ended their careers later than planned, according to a recent MassMutual Survey. What benefits could you receive by postponing your retirement date for a year? Maurie Backman…
Here are a scam’s red flags
The FTC received reports of over 164,000 government imposter scams in 2023, with Social Security scams being the most common. The Social Security Administration has stated they saw “38,852 reports with a total of $101.58 million lost to government-impersonating fraudsters.”…
How will you retire?
Consider the option of partial or phased retirement as explored in this article by Kristin McKenna, Senior Contributor at Darrow Wealth Management in Boston MA for Forbes on April 8, 2024. Read Ms. McKenna’s article here…. Notice: The link provided…
Minimizing your tax bill
One aspect not discussed in detail when saving for retirement is the impact of taxes on your retirement savings. Many retirees may be taxed at 20 to 30 percent when withdrawing from their retirement accounts. Only one-third of respondents of…
Unplanned early retirement
Some people have their retirement all planned out from an early age, and then there are the rest of us, playing catch-up in our 50s and 60s. Unfortunately, some of us find ourselves in early retirement due to circumstances beyond…
Three possible scenarios that could cost you a fortune
We all dream of how we want our golden years to look surrounded by family, sunshine, and good health, but that is not always the case. If you are age 65 in 2024, statistics show you will need five or…