Every October, over 70 million Americans eagerly wait for the Social Security Administration (SSA) to announce the Cost-of-Living Adjustment (COLA). This annual bump is designed to help your benefits keep pace with inflation, but will this actually [...]
If you’ve come across advice like “Social Security is going broke” or “you’re better off just waiting until 70 to claim,” you’re far from alone. These and other commonly repeated notions are persistent myths that can steer [...]
For many retirees, Social Security isn’t just a monthly deposit—it’s the foundation of their entire retirement income. But choosing when to claim it isn’t as simple as picking a birthday and signing paperwork. It’s a decision with [...]
People often misunderstand Social Security retirement benefits and taxation since not all benefits are taxable. The amount of benefits one receives and how much Federal tax applies depend primarily on the income level of the receiver and [...]
As we approach 2025, the Social Security Administration (SSA) has announced several important changes to the program that will affect millions of beneficiaries. These updates are designed to keep pace with the changing economic landscape and ensure [...]
Planning for retirement income is a crucial aspect of achieving a secure and comfortable retirement. With longer life expectancies and the need for additional sources of income, it's essential to consider various strategies to supplement Social Security [...]
In 2022, the United States experienced the most significant inflation in four decades, primarily due to macroeconomic disruptions and supply chain issues following the COVID-19 pandemic. This led to an 8.7% cost-of-living adjustment (COLA) for Social Security [...]
Everyone’s financial situation is different. Loan status, job situation, and the age of your kids all significantly impact your financial situation as you approach retirement. When it comes to Social Security there are a lot of different [...]
Now that the temperature is getting colder and we’re heading into October, there is something very important on the horizon for retirees: the announcement of the 2023 COLA for Social Security. COLA stands for “cost of living [...]
Deciding when you claim Social Security is a key part of the puzzle for your retirement plan. You can withdraw as soon as you turn 62, but you can also delay your claim until you are 70 [...]
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