seniors
Social Security and gray divorce
The divorce rate has doubled since 1990 for Americans over 55. For couples over 65, the rate has tripled. So, what does that mean for your Social Security benefits? For those individuals going through or who went through a gray…
Social Security and taxes
If you receive Social Security benefits, do you need to file taxes? Well, that will depend on several factors, which include marital status and your modified adjusted gross income. Katie Teague and Nina Raemont will explain how you determine if…
Is Social Security COLA keeping up with inflation
The purpose of Social Security’s cost-of-living adjustment (COLA) is to ensure that the purchasing power of Social Security benefits keeps up with inflation. But does it? According to Brandon Selfors, the CEO of life settlement and Medicare insurance company Bridge,…
Before you claim your benefits at 62
You can receive Social Security retirement benefits as early as age 62; however, you will receive a reduced benefit. Although you will receive more checks than other Social Security recipients who filed later, it does not mean you will receive…
Eliminating 401(k) tax benefits to fund Social Security
We all know the Social Security Trust Fund will be exhausted by 2034 if Congress does nothing, resulting in a 20 percent cut to Social Security beneficiaries, but is there a way to avoid this? According to new research published…
What is your Social Security full retirement age
This year marks the start of the Silver Tsunami, with almost 12,000 people turning 65 daily in the next few years. However, many people are surprised that they have not reached their full retirement age to be able to collect…
Estimating the COLA for 2025
With the release of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for January, the Social Security cost-of-living adjustment (COLA) estimates have begun. The Senior Citizens League estimates it at 1.75 percent, but the Congressional Budget…
What to do if will not receive Social Security
Almost 65 million Americans received Social Security benefits in January 2024. However, about 3.5 percent of the total population aged 60 or older never receive Social Security benefits. If you are one of those individuals, there are ways to maintain…
The importance of starting young
If you could go back in time, what advice would you give your younger self about retirement? A recent Nationwide survey found almost two-thirds of respondents said they would start saving for retirement sooner rather than later. Why? Many people…
Retirement planning should be a comprehensive process
You are not alone if you are worried about money, especially during retirement. According to the American Psychological Association, 72 percent of adults reported feeling stressed about money. So, to tackle the stress of financial worries in retirement, all the…