Social Security
The best age to begin your Social Security benefits
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up…
Will Medicare Part B premiums wipe out COLA
After the government released the inflation rate for April, Social Security analysts began to estimate the cost-of-living-adjustment (COLA) for 2025. As you may know, the Social Security Administration bases its COLA each year on average annual increases in CPI-W from…
Counting on Social Security
The 2024 Social Security Trustee report found if Congress does not act, the combined trust fund reserves will be depleted by 2035. At that time, the income coming into the program will only be able to pay 83 percent of the…
Baby Boomers lack of retirement savings
Baby boomers have changed the face of the U.S. population for more than 70 years and continue to do so as more enter their senior years. According to a recent study, over half of boomers have little saved for retirement…
Ask yourself these three questions
Social Security is the largest source of income for most beneficiaries, replacing only 33 to 55 percent of earnings for the average worker. So, it is essential to make the most of your benefits. Katie Brockman suggests you ask yourself…
Why are more individuals starting Social Security
In April, more than 72 million Americans collected Social Security benefits, according to the Social Security Administration’s monthly statistical snapshot, an increase of 195,000 from March. Why the increase? Is it because more individuals reached 65 and older, or is…
A Common Social Security Myth Explained
One of the most common and perpetual myths is that Congress stole money from Social Security. Although there are many reasons why Social Security is having financial woes at this time this is not one of them. Please read this…
Help boost the amount of your monthly check
A recent Gallup poll found that 59 percent of retirees said their monthly Social Security check is their leading source of income. So, achieving a higher monthly benefit is essential to many seniors. But what if you were many Americans…
Is it worth it to take early retirement?
We all dream of early retirement, but what if someone told you the financial benefits of working just one year longer? Would you do it? Or would you say, I want to retire; I’ve been working for forty years. Jordan…
The two problems with COLA
The Social Security Administration calculates the COLA by comparing the average of the CPI-W for July, August, and September of the previous year with the average for the same three-month period in the current year. The percentage change is the…