What the High Social Security COLA Could Mean for Your Retirement Finances

Social Security recipients will see a 5.9% increase in 2022 - the largest increase since 1982! This means that the average recipient will see a $92 a month raise starting next year.[1] While this is good news, it’s important to consider what this high Social Security cost-of-living adjustment (COLA) could mean for your overall retirement [...]

2021-11-01T12:07:52+00:00November 1st, 2021|Social Security|

Is Our Government Anticipating Inflation?

The Consumer-Price Index (CPI) rose to 4.2% in April as compared to last year.[1] We could see higher prices when it comes to travel, food, cars, and other common goods and services. High inflation can hurt retirees who are living off their savings, especially when we have near-zero interest rates. We already see bigger Social Security [...]

2021-10-13T19:18:27+00:00August 30th, 2021|Retirement Planning, Economy, Social Security|

Be Part of the 4% When it Comes to Social Security

According to a recent study, only 4% of retirees claim Social Security benefits at the optimal time, losing out on an average of $111,000 per household.[1] There are many things to consider when choosing how to claim your benefit, and there’s no one-size-fits-all formula for maximizing it. Consider your unique situation and read these tips on [...]

2021-10-13T19:33:24+00:00August 9th, 2021|Social Security|

Examining the Future of Social Security, Medicare, and Your Taxes

The Social Security trust fund is now expected to be depleted by 2034, according to a recent report from the Social Security and Medicare trustees.[1] That’s one year earlier than they reported last year, and the pandemic is to blame. Less was collected in payroll taxes when unemployment was high, and more people claimed benefits. [...]

What You Need to Know About Social Security Changes in 2020

10,000 Baby Boomers are turning 65 every day1, and Social Security will soon start to pay out more than it takes in.2 While it’s unlikely that the government will ever get rid of the program, there will likely be some changes in the coming years. It’s important to understand the system and to work closely with [...]

2020-05-13T02:01:03+00:00January 3rd, 2020|Social Security|
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