Social Security
Going back to the basics
Many people are afraid of cuts to Medicare and Social Security. According to a new survey by NerdWallet, 70 percent of Medicare recipients are concerned that their benefits will be reduced in their lifetime. “When you have worries like this,…
Preserving your purchasing power
We have all heard the phrase “purchasing power,” but what does it mean to the average pre- and post-retiree? Purchasing power is “the value or buying capacity of your fixed retirement income in the face of inflation.” We have also…
Employer Compensation Tax proposal
The Committee for a Responsible Federal Budget just released its analysis of the Trust Fund Solutions Initiative white paper, suggesting a new alternative by replacing the employer side of the payroll tax with a flat Employer Compensation Tax (ECT) on…
A Beginner’s Guide to Social Security
For many folks, retirement is a destination. Thoughts of someday kicking back and reflecting on a career well executed, or a history of meeting the challenges of supporting a family, or the simple satisfaction of being a part of a…
Release of the 2026 COLA on October 24th
The 2026 cost-of-living adjustment was originally scheduled for October 15th; however, due to the government shutdown continuing, it has been rescheduled for October 24th. Why the delay? Because to calculate the COLA, the Bureau of Labor Statistics must release its…
Ask Rusty – How Do I Navigate the Social Security Maze?
Dear Rusty: I am a woman, turning 65 this October (2025). It seems that deciding when to claim Social Security is complicated. I would like more information to navigate through this maze. Thank you. Signed: Ready to Claim Dear Ready:…
Medicare and a Health Savings Account
Now that you are on Medicare, or getting ready to go on Medicare, you may not be able to contribute to your Health Savings Account (HSA) any longer, but you can still use it to pay for qualifying medical expenses.…
Retirement Can Come with Unexpected Costs
Unexpected expenses catch many Americans by surprise in retirement. One of the largest of these is the cost of Medicare Part B. The current cost of Medicare Part B for 2025 is $185, but is expected to increase to $206.50…
The Bureau of Labor Statistics is Calling Staff Back In to Prepare the Annual Inflation Reports
When the shutdown started on October 1, only one person remained at the Bureau of Labor Statistics. Some staff are now returning to prepare the Consumer Price Index (CPI). The Cost-of-Living Adjustment (COLA), which is based on the Consumer Price…
Retirement Doesn’t Always Mean You Have to Start Your Social Security Benefits Early
If you are in a position to retire early and don’t need to start your Social Security benefits at that time, congratulations! If you find yourself in a position where your early retirement wasn’t your choice, there are options you…