Social Security

Social Security and Your Expenses

Your Social Security benefits may not cover as many of your expenditures as you believe. Many Americans are eager to receive Social Security benefits so they will no longer have to rely on work to supplement their income. However, if you expect government retirement benefits to support a secure future, you will certainly be disappointed. While Social Security will be a significant source of retirement income, it will not be adequate. You must clearly understand …

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3 Social Security Changes That Could Be Hugely Beneficial to Seniors

All of these have the potential to be game changers. Although Social Security has been established for a long time, its regulations are not etched in stone. More extensive improvements can occasionally come down the pike that benefits seniors, and here are three examples of such modifications that might have a significant beneficial impact.

Why U.S. Retirement Falls Short in the Developed World

Even though the U.S. retirement system may seem good, it is not as good as those in other developed countries. According to the Investment Company Institute, Americans saved more than $39 trillion for their old age in 2021. In many global retirement rankings, like the Mercer CFA Institute Global Pension Index and Natixis Investment Managers 2021 Global Retirement Index, the U.S. does not even rank in the top 10. For example, the United States got …

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Higher Colas Are a Bad Thing For the Middle-Class Retiree

Higher inflation is predicted to enhance the Social Security cost-of-living adjustment, or COLA, in 2023 by a percentage not seen in forty years. This might be interpreted as good news for seniors struggling with rising expenses. The poor part? This substantial increase might drive Social Security users into higher tax categories, resulting in almost half of all households paying taxes on their payments.

How Divorce Affects Retirement Savings After 50

Over the past two decades, divorce rates for people over 50 have more than doubled. Divorcing later can significantly impact your financial security. Indeed, divorce can potentially halve your assets while tripling your expenses, which can be especially damaging if you don’t have decades to recover

Four Ways to Improve Social Security Benefits

How Social Security calculates payment is complex, and a few fundamental concepts can improve lifetime benefits for millions of Americans whose most reliable income source is the Social Security program.