Social Security
Generation X: Rebounding From the Perceptions of a Retirement Savings Crisis?
Recent media accounts of the impending financial crisis facing future retirees have focused on perceptions that today’s workers are not accumulating the level of financial reserve needed for a “comfortable” retirement. The constant refrain has been, ” Save more!” and…
Social Security and Your Housing Costs – Some Key Things to Know
Many seniors grapple with the budgeting process, faced with a fixed income and an annual Social Security benefit cost-of-living adjustment that may not completely compensate for general price increases. Since housing costs are a substantial part of the overall financial…
Senirs’ Growing Reliance on Social Security Benefits
The steadily eroding financial future of Social Security is popping up more frequently these days in a wide range of media outlets, and there’s no doubt that Congress’s strategy of kicking the can down the road is nearing its end.…
WEP and GPO in the News, Again.
As the 118th Congress winds to a close, the ongoing saga of Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) continues to pop up in the media. Today’s roundup of news reports includes a Yahoo!News post by…
Social Security’s 2025 COLA, and a “World of Distress”
The 2.5% cost-of-living adjustment is a welcomed boost for Social Security beneficiaries; that’s a given. And the fact that this adjustment reflects a lessening of the inflationary pressures that have weighed on the economy for the past four years is…
Key Social Security Changes Set to Hit in January
The 2025 cost-of-living adjustment (COLA) announced last month is generally known at this point, but there are two additional key changes that folks need to keep in mind. For example, the annual limit on taxable earnings increases starting in January,…
A Thoughtul Look at Claiming Benefits at Age 62
At first blush, filing for Social Security benefits before one’s full retirement age is often viewed as an incorrect retirement strategy. Many financial planners will tell you that’s the wrong thing to do and will further suggest that, if you…
What’s Ahead for Medicare Beneficiaries in 2025
We already know what to expect relative to Social Security benefits in 2025–the much-discussed 2.5%–cost-of-living adjustment (COLA)–but we also know that that’s not the full story. As noted in a post by Jeffrey Quiggle, an editor and reporter at TheStreet…
Heads Up, Savers! The IRA Contribution Limits for 2025 Are Annonced.
So much has been written about the level of savings future retirees have set aside for this phase of their lives, and much of it has been focused on the absence of wealth accumulation to offset the loss of income…
Limits of Social Security
Social Security can be a major or minor part of a retirement income. With all the questions surrounding Social Security’s ability to continue paying benefits you may want to consider other options also. Selena Marajian for The Motley Fool explains…