seniors
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…
Retirement has always been fragile for low-income workers
An analysis by the U.S. Government Accountability Office found: “Only 1 in 10 low-income workers between the ages of 51 and 64 had any funds put away for retirement.” The study also found while poor workers lost ground, high-income workers…
There is plenty of concern about Social Security among current retirees.
The Social Security program is vital to many Americans who depend on it in retirement. However, the Social Security Trust Fund reserves are running out of money. When that happens, Social Security will only be able to pay about 80…
Making an informed choice about when to claim Social Security
Starting your Social Security retirement benefits is an important step on your retirement journey. The Social Security Administration reports: Elderly Social Security beneficiaries, 12 percent of men and 15 percent of women, rely on Social Security for 90 percent or…
The retirement gap
One question facing American workers is: How much do I need to save for retirement? According to the latest survey from Charles Schwab, the average amount participants said they would need to retire comfortably is $1.8 million. Compared to the…