Social Security
How much will your Social Security benefit be?
The average retiree actually gets a benefit likely much smaller than you think. Many believe that after contributing to Social Security for an entire lifetime, they will be able to retire in financial comfort, but the reality is much less…
Speculation about COLA for 2025
Admittedly, it’s way too early to say with certainty what next year’s Cost of Living Adjustment (COLA) for Social Security will be. COLA is, after all, based on inflation as measured in the 3rd quarter (July – September) of each…
Important information for those new to Social Security
After a lifetime of working and approaching age 62, you might start thinking about applying for Social Security. After all, you’ve worked your entire life, contributing to the program, and feel entitled to start reaping the monetary fruits of your…
Can you get the maximum Social Security benefit?
Well, the probable answer is “no” because there is a pretty high bar to achieve that goal. Basically, you’d need to earn at least as much as the annual payroll tax cap for at least 35 years, pay Social Security…
Hard fact: Social Security must be reformed
To listen to candidates for federal office these days, one would get the impression that just leaving Social Security alone is a viable path forward. But it’s not, according to this sobering assessment by a Congressman speaking at a South…
Ask Rusty – Veteran Uncertain About Social Security and Healthcare Coverage
Dear Rusty: I’m not sure what I should sign up for in terms of Social Security: I am 64 and I am still employed full time and intend to stay employed until age 70. I am retired from the Navy…
Retirement planning – What can go wrong?
Your retirement plan is in place, but is there an iceberg in your path? Have you stress-tested your plan to ensure that it can withstand any unforeseen obstacles? Is there danger lurking ahead simply because you haven’t considered and planned…
Applying for Social Security? Here’s what you need to know
Applying for your Social Security benefits usually is part of a huge step in your life – retirement. And although many who are thinking about finally claiming their hard-earned Social Security payments, they are also uncertain about where to start.…
What is the best age to claim Social Security?
It’s something of an age-old question but, curiously, one where the reality of when most people claim seems to conflict with the optimum age for them to do so. This Nasdaq article by Motely Fool’s Katie Brockman explains that while…
Have you filed your taxes yet?
The 2023 federal tax filing deadline of April 15, 2024, is fast approaching; have you filed yet? Are you required to file a tax return? Yes, some Social Security recipients are not required to file; however, it will depend on…