seniors
Optimistic about the future of Social Security
Despite all the fear-mongering on social media saying Social Security is going bankrupt and will not be able to pay Social Security benefits, over half of the respondents to a recent survey said they expect to receive Social Security benefits.…
Importance of retirement planning beyond Social Security
The average Social Security recipient received $21,924 in 2023. Social Security is the foundation of all retirement plans, but is it enough for you to survive? According to the Bureau of Labor Statistics, the average 65-year-old and older spends an…
New Social Security rules for 2024
The new year is approaching rapidly, which means new rules for Social Security. Some of the new rules you will find will be beneficial to recipients and workers, but the other rules are not so much. The beneficial rules for…
What 2024 will look like for the average Social Security recipient
Beginning next month, over 64 million older Americans will see an increase in their Social Security benefits. The cost-of-living (COLA) increase of 3.2 percent is modest compared to last year’s 8.7 percent and a decrease in Medicare Part B premiums.…
Medicare expanding coverage
Congress has approved an expansion of mental health providers covered under the Medicare program. As of January 1, 2024, Medicare recipients can seek the services of mental health counselors and marriage and family therapists. Previously, Medicare limited covered services to…
Social Security claw back policy numbers
This year, the Social Security Administration has come under scrutiny by Congress and the media for its clawback policy. Social Security clawback policy is when the program, by administrative error, has overpaid recipients; the agency then collects the overpayment by…
Are you ready for these changes to Social Security?
“The Only Constant in Life Is Change.”- Heraclitus. That is true when it comes to the Social Security program as well. The Social Security program will change in 2024, but those changes will not affect everyone. What are those changes?…
Ask Rusty – About the Fairness of “WEP” and “GPO”
Dear Rusty: I was married to my ex-husband for 30 years. For 14 of those years, I was an unemployed mom and community volunteer. After my sons were grown, I began teaching in California and earned a teacher pension. That…
Are higher taxes the only solution to Social Security insolvency?
We are all aware – I hope you are – that the Social Security Trust fund will be depleted by the end of 2033, forcing benefit cuts of 20 percent in 2034 if Congress cannot find a solution. So, what…
The clock is ticking for Congress
According to American writer Jack Kornfield, “The trouble is you think you have time.” The reality is we do not. Congress has until 2033 to come to a bipartisan agreement about Social Security, or there will be an automatic cut…