Social Security
Retirement: Dealing With the Emotional Part of the Equation
Quite a bit of material has been published about the financial aspects of retirement. You know, the tips for maximizing your monthly Social Security benefits, understanding spousal and survivor benefits, the perils of claiming before full retirement age, and so…
Claiming Early? You’re Not Alone…Here’s Why.
From a financial planning standpoint, conventional wisdom espoused by retirement advisors suggests waiting at least until full retirement age, and preferably until age 70, to claim Social Security benefits. There is nothing wrong with that advice, of course, but with…
Ask Rusty – When Should My Wife Claim Social Security Benefits?
Dear Rusty: I turned 64 in July and my wife turned 62 in August. My wife has not worked for approximately 15 years but does qualify for Social Security on her prior work record. My wife is having some physical…
Social Security is Translating More Materials in Native Languages
Social Security will now translate, print, and distribute materials in appropriate Social Security offices in Yup’ik and Diné, 2 Native languages. Offices nationwide display posters with the message, “Share Your Race and Ethnicity & Help Us Improve Service and Access”.…
How soon will taxes be eliminated?
One of the biggest surprises for newly retired individuals is that they may have to pay federal taxes on their Social Security benefits. The Social Security Administration states, “About 40 percent of people who get Social Security have to pay…
Do you know about these changes?
The Social Security program changes every year, and 2025 will be no different. Since Social Security benefits are the largest source of income for many seniors, it is important to be aware of these changes. Trevor Jennewine reports on the…
Is COLA keeping up with inflation?
Social Security recipients will receive a 2.5 percent cost-of-living adjustment (COLA) in January 2025. However, Kevin Thomson, CEO of 9i Capital Group, said: “The COLA increase is not substantial enough to outpace the growing costs faced by Social Security beneficiaries.”…
The House passes H.R. 82
The full House passed H.R. 82, the Social Security Fairness Act of 2023, on Tuesday, November 12th, by a 327 – 75 vote. The bill would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which reduces the…
Three key moves to make in 2025
Even though Social Security benefits only replace 33 percent to 55 percent of earnings for the average worker, Social Security is the largest source of income for most beneficiaries. Without Social Security benefits, about 4 in 10 adults 65 and…
Could the Social Security Fairness Act still pass?
Despite the move by the Freedom Caucus leaders, the House is expected to try to pass H.R.82 – Social Security Fairness Act of 2023. What is the Social Security Fairness Act? This bill repeals provisions that reduce Social Security benefits…