Social Security
Time is Ticking for Social Security
As insolvency looms closer every day, millions of Americans may face a cut to the income foundational to their retirement plan. A number of proposals for a solution are floating about but none seem to be making an impact on…
The newest COLA estimate
The Bureau of Labor Statistics reported the March 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.5 percent over the last 12 months. Based on this announcement, the Senior Citizens League has estimated the cost-of-living…
House Ways and Means Committee to Hold Hearing on WEP and GPO
On Tuesday, April 16th, the U.S. House Ways and Means Committee will hold a hearing on bill H.R. 82 – the Social Security Fairness Act. This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits,…
Retaining older workers
In his annual letter to investors, BlackRock CEO Larry Fink addressed the issue of America’s lack of retirement savings and the aging workforce. Mr. Fink challenged “HR departments to find ways to hire and retain older workers, but also help…
What one more year will do for you
Satisfaction with their jobs was the main reason why 10 percent of retirees ended their careers later than planned, according to a recent MassMutual Survey. What benefits could you receive by postponing your retirement date for a year? Maurie Backman…
Here are a scam’s red flags
The FTC received reports of over 164,000 government imposter scams in 2023, with Social Security scams being the most common. The Social Security Administration has stated they saw “38,852 reports with a total of $101.58 million lost to government-impersonating fraudsters.”…
Unplanned early retirement
Some people have their retirement all planned out from an early age, and then there are the rest of us, playing catch-up in our 50s and 60s. Unfortunately, some of us find ourselves in early retirement due to circumstances beyond…
Medicare and Social Security: Is time running out?
We have all heard about the trust fund running out of money in approximately 10 years. Here are numbers as reported by Adam Andrzejewski at RealClearInvestigations. Read the article here…
Ideal retirement age
According to recent data, America’s ideal retirement age is 59.4. Although that sounds wonderful, it does come with some drawbacks. Maurie Backman advises why this ideal retirement age could be problematic for many individuals. Read Ms. Backman’s article here… Notice:…
Are you moving?
Are you thinking of moving? Even if it is just across town or another state, you need to let Social Security and Medicare know when and your new address so there will be no misunderstanding. The Savvy Senior columnists outlines…