Social Security
Taxes can take a significant bite out of your nest egg
There is one area most retirees miss, and that’s taxes. Taxes can take a significant bite out of your retirement savings and investment income from a taxable brokerage account. However, you can have tax-smart investments and retirement accounts to reduce…
We’re finally through the transition
You can begin your Social Security retirement benefits as early as age 62; however, you are entitled to full benefits when you reach your full retirement age. But, the 1983 Amendments phased in a gradual increase in the age for…
The Social Security Expansion Act
Without Social Security benefits, about 4 in 10 adults aged 65 and older would have incomes below the poverty line, according to official estimates based on the 2021 Current Population Survey. Social Security benefits provide at least 50 percent of…
Can Social Security recipients catch a break?
The 2023 Social Security Cost-Of-Living Adjustment (COLA) may be the highest ever received by most Social Security beneficiaries alive today. The projections for 2023 COLA at around 8.7 percent is the biggest since 1981 when beneficiaries received an 11.2 percent…
What day will the officials announce the 2023’s COLA increase?
The Cost-Of-Living Adjustment (COLA) is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. It is based on the percentage increase in the Consumer Price Index for Urban Wage…
Another estimate on the 2023 COLA increase
The U.S. Bureau of Labor Statistics reported the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in August. So, what does that mean to Social Security recipients? Mary Johnson of The Senior Citizens League has updated her…
Why this change to Social Security is most likely to happen
There are many proposals to resolve the Social Security insolvency problem and preserve full benefits for Social Security recipients; not all have bipartisan support. However, there is one that enjoys this support: Tax income above $400,000 to help fund Social…
How COLAs increase your future Social Security
With all the talk of a record high cost-of-living-adjustment (COLA) for 2023, many people near retirement are wondering if they should file for their Social Security benefits to take advantage of this increase. You want to make the right decision;…
Maximize Social Security Benefits With These 4 Tricks
Neil Templin of Barron’s writes an easy to understand piece on how to maximize Social Security benefits. So much is written on this topic, but it usually boils down to this advice: make sure you have a full 35 year…
A Call to Strengthen & Expand Social Security – Even in the Face of Insolvency
Max Richtman’s op-ed in The Hill chronicles the history of Social Security from its passage in 1935 to the current time. He notes the program has expanded many times along the way, mainly to cover more workers, such as domestic…