seniors
The Social Security commissioner responds to report on how overpayments are handled
After a story and the call from members of the Congress and Senate on how Social Security handles overpayments, Kilolo Kijakazi, acting commissioner of Social Security, announced, “I am putting together a team to review our overpayment policies and procedures…
Expectations versus reality
Reality and expectations are two sides of the same coin. On the one hand, we have expectations, which are our aspirations and wants for the future. On the other hand, the reality is the actual result of our actions and…
Why Americans do not like these possible Social Security funding solutions
Yes, the Social Security Trust fund is in trouble; however, Social Security will not run out of money since current workers fund retiree beneficiaries. Although current workers pay into the program via payroll tax, the revenue will not be enough…
Congress is demanding answers on the Social Security overpayment issue.
The Social Security Administration has recently been in the news for its clawback of over $20 billion in overpayments. Social Security sends clawback bills to beneficiaries that they believe were mistakenly overpaid for years or possibly decades. Laurence Kotlikoff, a…
Stop stressing about retirement
We all look forward to retirement, less stress, pursuing hobbies, visiting new places, or spending time with family and friends. However, many Americans are stressing out about retirement. A recent study by Allianz Life found most retirees are “more afraid…
Where will you be on October 12th?
Are you waiting for October 12, 2023, at around 8:30 a.m.? If so, you are not alone. More than 67 million Social Security recipients will be waiting to hear the Social Security Administration announcement of the 2024 cost-of-living adjustment. However,…
How working affects your Social Security
The Transamerica Center for Retirement Studies reports almost half of the baby boomers plan to keep working past age 70 or never retire. However, if you are working while on Social Security, it is crucial to understand the earnings test…
Who gets my Social Security when I die
Social Security recipients ask: What happens to my Social Security benefits once I die? Your Social Security benefits will stop; however, your loved ones may still be able to claim on your earnings record. The Social Security Administration states, “Certain…
Keep these Medicare rules on your radar if you’re about to sign up
Medicare is the federal health insurance program generally for people who are 65 or older. Medicare has recent rules on when to sign up, how much you pay, and how the program works. Many people who are retiring do not…
How people will be impacted by Social Security cuts
In 2023, an average of almost 67 million Americans per month receive a Social Security benefit. Social Security is the major source of income for seniors. But the Social Security Trust Fund is in trouble if not resolved; there is…