Social Security
Lower inflation means lower COLA
2023 saw one of the highest Cost-of-living-adjustments increases since 1981. But will Social Security beneficiaries receive another significant increase in 2024? Although it is too early to calculate the 2024 COLA amount, Keith Speights suggests that retirees are better off…
Ask Rusty – Will Work Earnings Affect My Social Security at Age 80?
Dear Rusty: I am 80 years old, and I receive monthly Social Security benefits, but I’m thinking about returning to work. At this age, am I limited in how much income I generate without affecting my benefit? If so, how…
Don’t wait until you’re 70 to take Social Security
Financial planners say to wait until 70 to file for your Social Security benefits. If you wait until age 70, your monthly payments will be 24 – 32 percent higher than the benefits you would have received at your full…
Social Security break-even calculation
Your Social Security break-even age can help you decide whether it is better to start collecting Social Security early or wait until later when you can receive a larger monthly payment. It is the point at which the value of…
How grey divorce affects women’s Social Security benefits.
According to the Pew Research Center, the divorce rate for those 50 and older has roughly doubled since 1990, far more than any other age group; research conducted by the Social Security Office of Retirement and Disability Policy; found “around…
Election 2024: Battle Lines Being Drawn on Social Security
Early candidates in the Republican primary race have indicated a wide disparity in their positions when it comes to Social Security. Specifically, former Vice President Mike Pence has gone on record calling for program reform, hinting at a change in…
An “Ideal” Circumstance for Claiming Social Security Benefits at Age 62
It can be a torturous question, this issue of when to file for Social Security benefits. Sure, you’re aware of the reduction in monthly payments you’ll receive, and you’re aware of the persistent advice of financial “experts” that it’s best…
Social Security and Your Retirement Financial Plan–Assembling the Pieces
If you are beginning to take a look ay how your retirement years will be financed, congratulations! Many folks, unfortunately, do not take a long-term view on this subject and often find themselves arriving at key decision points unprepared to…
COLA Watch 2024–Likely Nowhere Near 2023
Inflation is easing, and that’s a good thing for the economy in general. Unfortunately for seniors, though, that downward trend brings with it a similar trajectory in cost-of-living adjustments (COLA). In fact, current projections are that the COLA for next…
House Opens Markup Work on Two Bills Aimed at Identity Fraud Protection
U.S. House Committee on Ways and Means began markup work on two bills introduced to guard against identity theft. The two bills are: H.R. 3784, the “Improving Social Security’s Service to Victims of Identity Theft Act”, and H.R. 3667, the…