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Social Security

The clock is running out on many Americans facing a retirement time bomb.

Time Bomb Looms for Aging Americans

By | Baby Boomers, Investing Lessons, Retirement, Retirement Planning, Retirement Savings, Social Security | No Comments

A recent Wall Street Journal article “Time Bomb Looms for Aging America” highlights a growing crisis for older Americans nearing and entering the early stages of retirement.    What the article’s authors uncovered in their research is that the generation reaching retirement age is in worse financial shape than the previous generation.  This will be the first time this has occurred…

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Are baby boomers ready for retirement?  Survey reveals expectations and readiness.

Survey Reveals Baby Boomers Expectations for Retirement

By | Baby Boomers, Retiree, Retirement, Retirement Income, Retirement Planning, Retirement Savings, Social Security | No Comments

The Insured Retirement Institute recently released the “Eighth Annual Update on the Retirement Preparedness of the Boomer Generation” and the report provides some interesting insights into baby boomers’ expectations and preparedness for retirement.  While the insight from the survey provides a valuable look into the mindset baby boomers preparing for retirement, it should be noted that the Insured Retirement Institute…

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We now know by how much Social Security benefits and Medicare Part B premiums will increase in 2018.

2018 Adjustments to Social Security and Medicare Announced.

By | Financial Planning, Medicare, Social Security, Tax | No Comments

While we continue to wait for Congress to act on tax reform, two pieces of next year’s financial planning puzzle have recently been revealed for retirees.  In October, the Social Security Administration announced that 61 million Americans will receive a 2.0% increase in their monthly Social Security benefits beginning in January of 2018.  The 2 percent increase in monthly income…

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Are Americans Facing a Retirement Crisis?

Are Americans Facing a Retirement Crisis?

By | Education, Investing Lessons, Retirement, Retirement Planning, Retirement Savings, Social Security | No Comments

Are Americans facing a retirement savings crisis?  The answer to that question depends on who you ask, and perhaps that individual’s prospects for retirement.  The Wall Street Journal recently asked two prominent economists if Americans were facing a retirement savings crisis.  Alicia Munnell, director of Boston College’s Center for Retirement Research and Andrew Biggs, resident scholar at the nonprofit American…

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Social Security recipients will see a very small increase in benefits in 2017.

Social Security Benefits Update

By | News and Events, Retirement Income, Social Security | No Comments

It is the classic case of “I have some good news and I have some bad news.  Which would you like to receive first?”  The good news for Social Security recipients is that there will be a cost-of-living adjustment (COLA) for the first time since 2015.  The bad news is that the COLA increase is a meager 0.3% for 2017….

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SS program changes limit future planning options.

Social Security Changes Will Limit Future Planning Options

By | Financial Planning, Retirement Planning, Social Security | No Comments

A few days before Halloween, Congress managed to slip a couple of ‘tricks’ into the Bipartisan Budget Act of 2015 that impact many soon-to-be retirees and their retirement plans.  On October 28th, the House of Representatives approved a bill that could cost retirees tens of thousands of dollars in benefits by eliminating two Social Security claiming tactics known as file-and-suspend…

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SS Check

Social Security COLA Increase Unlikely for 2016

By | Financial Planning, Retirement Planning, Social Security | No Comments

On August 14, 1935 President Franklin D. Roosevelt signed the 37 page Social Security Act into law, ushering in a new concept of retirement for millions of Americans.  But even as the Social Security program celebrates its 80th birthday, retirees will likely be receiving a nasty surprise this year. The latest annual report from the Social Security trustees is projecting…

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Retirement Nest Egg

Americans Aren’t Saving Enough for Retirement

By | Retirement Planning, Social Security | No Comments

We have just surpassed the six year mark for our current bull market and while many retirement nest eggs look a lot healthier than they did in 2009, the question that remains largely unanswered is whether they are healthy enough for most Americans to comfortably retire when and how they want.   A number of other organizations are constantly taking a…

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President’s 2014 Budget Proposal Contains 4 Big Changes for Your Retirement

By | Social Security | No Comments

While much of the nation’s attention has been focused on the federal government shutdown that was avoided earlier this month and the mistake-plagued rollout of Obamacare, another proposal coming out of Washington D.C. has avoided much of the media and public’s attention. President Obama’s 2014 budget blueprint for 2014 includes the following four provisions that could have lasting effects on…

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