seniors
Social Security benefits and alimony payments
Earlier this month, the Colorado Court of Appeals ruled that Social Security benefits counted as income in deciding alimony payments. So, what will this mean to other seniors? Suzanne Blake reports on how this ruling changes how the court can…
Proposed plan for new retirement system
The Wharton School of the University of Pennsylvania proposed a plan for the federal government to create “personal individual investment accounts” to replace the current retirement systems. According to the authors, “All contributions are made by the federal government without…
Women and retirement savings
At the end of 2022, the average monthly benefit check for a retired woman was $1,638 compared to $2020 for a retired man, according to a report from the Social Security Administration. Why? Women tend to earn less than men,…
Pay attention during the Open Enrollment Period
Although Medicare Open Enrollment is a few months away, it is not too early to learn about changes that may affect your Medicare Part D coverage. The Inflation Reduction Act (IRA) will make significant changes to many individuals with Part…
Are you nervous about retirement?
The majority of Americans are nervous about retirement, according to the latest report from Schwartz Center for Economic Policy Analysis. The results demonstrate that the stress level of retirement differs based on age, gender, economic and educational levels. Lynn Cavanaugh…
Is delaying your benefits worth it?
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But, if you delay taking your benefits from your full retirement age up to 70, your…
Is it an under-saving issue or a retirement crisis?
Do Americans have a retirement crisis or an under-saving for retirement issue? According to the Boston College Center for Retirement, their research shows almost 40 percent of working-age households cannot maintain their standard of living in retirement. However, 80 percent…
VP candidate and Social Security
2024 Republican Party vice presidential candidate selection, Senator JD Vance, has made several statements on Social Security Trust Fund insolvency issues over the years. Omar Mohammed reports on what the VP candidate has said about Social Security. Read Mr. Mohammed’s…
Should you go back to work if your Social Security benefits aren’t keeping up?
When Social Security recipients were asked in a recent survey if the most recent COLA increase was sufficient, 62 percent of respondents said no, and 44 percent said they were considering returning to work to boost their income because their…
Good news and bad news for retirees
What will the 2025 COLA be? We will not know until mid-October when the Social Security Administration releases the amount based on this year’s third-quarter inflation figures compared to the previous year’s. However, that has not stopped experts from estimating…