Social Security COLA
Understanding How the 2023 COLA Relates to Your Benefit Amount
Something that’s often overlooked when assessing retirement cash flow in an early retirement situation is the math behind the application of annual cost-of-living adjustments (COLAs). CNBC personal finance reporter explains how an early filing decision leads to a curtailment of…
Social Security 2023: A Quick Refresher on the Changing Landscape
We’re two days away from a new calendar year and, as happens every year, the flipping of the calendar brings with it a slate of new parameters governing Social Security and affecting those receiving benefits. The GoBankingRates editorial staff has…
More on the Downside of 2023’s COLA
The extraordinary cost-of-living adjustment scheduled to appear in January Social Security benefits is a welcomed influx of cash for the 70 million Americans dealing with the inflationary pressures so prevalent in the U.S. economy. An 8.7% bump will help many…
Spotlighting the Inadequacy of Social Security’s COLA
Against a statistical backdrop that shows the gulf between the growth rate of Social Security’s cost-of-living adjustments (COLA) and the growth rate for Medicare premiums (hint: the latter paces the former by about 3 to 1), The Senior Citizens League…
Expect a very low Social Security cost of living adjustment in 2020
Social Security’s cost-of-living adjustment (COLA) will be announced in mid-October, but projections are for only a 1.6% COLA for 2020, down from 2.8% in 2019. A 1.6% adjustment would equate to an added $23 per month for someone receiving the…
Health Insurance Costs and the Social Security COLA…Some Thoughts
In a post on kernvalleysun.com, licensed insurance broker Harry P. Thal, MA offers commentary on how Social Security’s annual cost-of-living adjustment (COLA) is calculated and the relationship between this COLA and the premium payments beneficiaries need to absord for Medicare…