seniors
Some Perspectives on Retirement
There’s a fair amount of gloom and doom floating around the airwaves when it comes to retirement planning. From the hand-wringing about Social Security’s solvency problems to the persistent reports that future retirees are not saving enough to support their…
The Creeping Arm of Taxation, and How Seniors Are Affected
By now, many older Americans have either filed their 2022 federal tax returns or are preparing to do so, and have come to grips with the fact that more and more of their Social Security benefit is spilling into the…
A Look-ahead at Next Year’s Cost-of-Living Adjustment…It Won’t be Pretty!
Social Security beneficiaries are still catching their breath from last year’s big run-up in inflation, using the extraordinary 8.7% COLA to fill some of the holes in their monthly expenses. The 2023 COLA was the largest in four decades, providing…
A call for “common sense” reforms to Social Security
Former vice president Mike Pence, a likely 2024 presidential contender, is advocating for “common sense reforms” to Social Security and Medicare. Speaking to university students, “if we act in this moment with the support of this generation, we can introduce…
Next-year’s COLA may be lower
Recent data shows spending among older Americans has increased. This increase in spending may be due to this year’s historic cost-of-living increase, the largest in almost four decades. However, while older Americans may have received a hefty cost-of-living increase, that…
Social Security benefits may not increase as much next year
Approximately 70 million Americans–Social Security and Supplemental Security Income (SSI) beneficiaries–saw an increase of 8.7 percent in their monthly benefits in 2023. According to new research from the Bank of American Institute, the cost-of-living adjustment for 2023 was one of…
Did you receive an overpayment notice from the Social Security?
Yes, the Social Security Administration does make mistakes. How does this happen? There are a few reasons, but usually, the overpayments occur due to an individual not notifying Social Security of changes happening in their life. So how does Social…
Here are the Medicare basics
More than 10,000 people turn 65 every day in the United States. Knowing your options for health care are more important than ever before. Medicare is the federal health insurance program for people who are 65 or older. Understanding Medicare…
Which state is the most expensive to retire in?
When you think of the most expensive places to live in the United States, most people will say California or New York, but that may not be correct for both states. According to WalletHub, California did not make the top…
Seniors are feeling economic strain
A survey by American Advisors Group (AAG) found nearly 90 percent of seniors think the United States is experiencing a retirement savings crisis. Chris Moschner, Chief Marketing Officer of American Advisors Group, stated, “The data show that seniors are feeling…