Category

Social Security

Taxes may increase for many Americans in 2021.

The Tax Outlook for 2021 and Beyond

By | 2020, 2021, Capital Gains Tax, Estate Tax, Roth IRA Conversion, Social Security, Tax, Tax Increases, Tax Loss Harvesting, Taxes | No Comments

In October we examined how the outcome of November’s Presidential Election might impact future stock market returns in the United States.  If you will recall from the article, stocks have performed slightly better under Democrat Presidents than under Republican Presidents historically.  The same data revealed that investors’ returns were even better when they were invested during all Presidential administrations, regardless of…

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Social Security Benefits will receive  a slight increase in 2021.

Social Security Benefit Update for 2021

By | 2020, 2021, Interest Rates, Medicare, Retiree, Retirement Income, Retirement Planning, Retirement Savings, Social Security | No Comments

Social Security benefits represent a salient component of most retirees’ retirement income strategy.  For most American retirees today the two most important sources of retirement income are withdrawals from their own retirement savings and their monthly Social Security benefit.  As such, it is imperative to be aware of new developments with Social Security and its associated retiree healthcare program, Medicare….

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Could Social Security be another vicitim of Covid-19?

Social Security: Another Covid-19 Victim?

By | 2020, coronavirus, Covid-19, Financial Planning, Retiree, Retirement Income, Retirement Planning, Social Security | No Comments

As the number of confirmed Coronavirus cases nears 2.4 million in the United States, the virus has extracted a heavy toll in terms of deaths, hospitalizations, job loss and economic malaise.  As devastating as Covid-19 has been the past four months in terms of loss of human life and economic conditions, it may be minor in comparison to the potential…

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Retirees will see the largest COLA increase since 2012.

2019 Social Security Cost-of-Living Adjustment and Retirement Account Limits Announced

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

Social Security recipients will receive the largest annual raise in Social Security benefits in seven years when their monthly checks increase by 2.8% in early 2019.  The Social Security Administration announced the increase after the October release of consumer price index data for September. The 2.8% increase represents the largest Social Security COLA increase since the 3.6% increase for 2012. …

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Social Security Could be Broker as Early as 2032

New Study Projects Social Security in Worse Shape than Reported

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

We have known for some time now that Social Security’s long-term health is in question, and that the program is in serious need of financial reform to remain a viable source of income for retirees.  A new independent report indicates that the problem may be worse than has been reported by Social Security trustees.  Conducted by the University of Pennsylvania’s…

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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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