Social Security
Gloomy Outlook Causing Many to Rethink Retirement
With inflation and steadily rising healthcare costs in the picture, many peak-65ers appear to be hedging their plans to jump into retirement. The Alliance for Lifetime Income (ALI)’s 2025 Protected Retirement Income and Planning (PRIP) Study concludes that fear of retirement…
How Lack of Understanding Drives Perceptions of Social Security
CATO Institute’s recent Social Security survey produced results that indicate a fairly broad misunderstanding of the program’s fundamentals. For example, more than half of the 2,200 survey participants were not aware of the “pay as you go” formula used by…
Ask Rusty: I’m Still Confused about Medicare Part A and Part B Enrollment
Dear Rusty: I’m 64 and still working full time, and plan to continue working at least until I’m 70 ~ it’s a good job, and I enjoy it. My job comes with health insurance, so I don’t really need additional…
One of the Most Popular Retirement Ages
When Social Security was made law, the full retirement age (FRA) was sixty-five, the age at which you could receive 100% of your Social Security benefit. Now the FRA has risen to age sixty-seven, depending on the year you were…
Are you on the way to retiring on your own terms?
If you are in your 40s, it’s time to take a serious look at where you stand in preparing for your retirement. Your retirement is now only 20 to 25 years away. You may think that is a long time…
The Social Security Administration is Working Hard to Ensure You Get the Help You Need
Commissioner Bisignano is visiting field offices across the country to discuss how new technology and process enhancements can better serve you, both by phone and in person. After gathering suggestions on how to improve service, the Social Security Administration implemented…
State Taxation of Social Security Benefits
When planning your retirement, consider the taxes you’ll have to pay. Nine states may tax your Social Security benefits depending on your income. If you have other income besides your Social Security benefits, odds are you will pay taxes. For…
Social Security Reduces Wait Times
Frank Bisignano, President Trump’s recently appointed Commissioner of the Social Security Administration, states that the wait time for phone response has been reduced. He reports the average wait time for July has dropped to 7.6 minutes, down from the previous…
Retired, but not by choice. Now what?
Over half of retirees leave the workforce earlier than expected. Whether due to their health, corporate restructuring, or Artificial Intelligence (AI), it is becoming a common factor.One of the most common things a person, at least age 62, does when…
The Importance of Placing a Credit Freeze on Your Social Security Number
Breaches into company records exposing your personal information, such as your birthday and Social Security number, are becoming a common event. If you put a Credit Freeze in place, it prevents your credit bureau files from being accessed by someone…