seniors
Social Security rules can be complicated, many people don’t even realize when they made a mistake
Social Security benefits, on average, account for almost 40 percent of retirement income and, therefore, is an important source of income for most U.S. retirees. Social Security becomes more important the longer a person is retired, often accounting for 50…
Senate Bill to Block Social Security Garnishment Reintroduced
Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…
Who is most (least) prepared for retirement?
A recent Vanguard survey found that 85 percent of Gen Z’ers surveyed said retirement benefits were a chief concern in their job hunts. Both Gen Z and millennials are saving more in their workplace retirement plans than previous generations due…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…
When someone dies
Social Security retirement benefits are paid in the month following the month for which they are due. It’s important to understand that Social Security only pays benefits for a specific month if the beneficiary was alive for the entire month.…
Why you should prioritize saving for retirement
Saving for retirement can seem like a daunting task and one that you might think you do not need to be concerned with right now, especially if retirement is far off. Balancing financial priorities is tough, but choosing the right…
What is Medicare Part A
What Is Medicare Part A? Medicare Part A helps cover your inpatient care in hospitals, critical access hospitals, and skilled nursing facilities (not custodial or long-term care). It also helps cover hospice care and some home health care. You must…
Want more money from Social Security?
Your full retirement age varies based on the year you were born. Also, the amount you would receive at your full retirement age- based on your lifetime earnings. However, the amount you are entitled to each month depends on when…
Make sure your expectations of Social Security are realistic
We all dream of what we will do in retirement, maybe work on your golf game or see faraway family members, but are you prepared for it? Do you know what your Social Security will be? Not just talking about…
You’ll need more than just Social Security to retire comfortably
The Social Security Administration has found among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Social Security alone is not enough to retire…