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Social Security and Medicare Trustees Reports: Financial Challenges Continue

By |2017-07-26T19:14:22+00:00July 27th, 2017|Categories: Personal Planning|Tags: , , , , , , |

Every year, the Trustees of the Social Security  and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. The newest reports, released on July 13, 2017, discuss the ongoing financial challenges that both programs face, and project a Social Security cost-of-living adjustment (COLA)  for 2018. What [...]

Five Questions and Answers about New Social Security Claiming Rules

By |2015-11-18T14:24:57+00:00November 18th, 2015|Categories: Personal Planning, Uncategorized|Tags: , , , , |

When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might [...]

The Bipartisan Budget Act of 2015

By |2015-11-04T15:22:41+00:00November 4th, 2015|Categories: Personal Planning, Uncategorized|Tags: , , , |

On November 2, 2015, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget deal. The legislation, needed to avoid an impending default on U.S. debt, also contains multiple unrelated provisions, including an elimination of two Social Security retirement benefit [...]

Social Security and Medicare Figures for 2015

By |2014-10-27T19:26:59+00:00October 27th, 2014|Categories: Personal Planning, Uncategorized|Tags: , |

New figures announced The Social Security Administration (SSA) has announced that Social Security and SSI beneficiaries will receive a 1.7% cost-of-living adjustment (COLA) for 2015. According to the SSA's announcement, after the COLA, the estimated average monthly retirement benefit payable in January 2015 will be $1,328. The Centers for Medicare & Medicaid Services (CMS) has also [...]

What Does the Future Hold? — The 2014 Social Security Trustees Report

By |2014-08-07T19:51:17+00:00August 7th, 2014|Categories: Personal Planning, Uncategorized|Tags: |

Every year, the Trustees of the Social Security Trust Funds release a report to Congress on the current financial condition and projected financial outlook of the program. This year's report, released on July 28, contains valuable information about the health of Social Security that may help you understand how your Social Security benefits might be affected. [...]

Claiming Social Security — Strategies for Married Couples

By |2017-05-09T22:13:11+00:00June 11th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , |

Deciding when to begin receiving Social Security benefits is a major financial issue for anyone approaching retirement because the age at which you apply for benefits will affect the amount you’ll receive. If you’re married, this decision can be especially complicated because you and your spouse will need to plan together, taking into account the Social [...]

Myth Busting: Social Security

By |2017-05-09T22:13:11+00:00June 11th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , , , , , |

Myth:  Social Security will provide most of the income you need in retirement. Fact:  It’s likely that Social Security will provide a smaller portion of retirement income than you expect.  There’s no doubt about it – Social Security is an import source of retirement income for most Americans.  According to the Social Security Administration, more than [...]

Fixing Social Security

By |2011-07-21T19:21:40+00:00July 21st, 2011|Categories: Personal Planning, Uncategorized|Tags: , , , , |

These days, as Congress debates the debt ceiling issue, Social Security is suddenly front page news again.  If you want to see the lighter side of the debate, click here: The first thing to understand is that there IS a solvency problem with Social Security.  Alice Munnell, Director for the Center for Retirement Research at [...]

The World Belongs to the Young

By |2011-03-17T05:18:59+00:00March 17th, 2011|Categories: On Our Minds, Uncategorized|Tags: , , , , , , , , , |

In their February 7th issue, Bloomberg Businessweek ran an extensive article on youth unemployment, detailing its impact and problems and how it is driving political change throughout the world. As I read the article, what occurred to me is that the paradigm created by our modern world is one that takes from the young and [...]

Social Security: Dialougue or Debate?

By |2011-01-12T05:31:01+00:00January 12th, 2011|Categories: Personal Planning, Uncategorized|Tags: , , , , , , , |

We hear a great deal of talk these days about the state of Social Security, Medicare, health insurance, and countless other areas which the government has influence over.  For some, this dialogue causes great unease and often times fear.  Questions arise such as: “How will I pay for health insurance if I retire?” “Will I run [...]