Jatin Khanna
Retirement planning is a crucial decision, and one of the most debated topics is when to claim Social Security benefits. While you can start collecting as early as age 62, experts often recommend Wait Until 70 for Social Security to maximize your monthly payments. Here’s why delaying could be a smart financial move. How Delaying … Read more
Years ago, it was common to work for the same employer for decades, collect a pension, and retire comfortably. But those days are largely gone, especially in the private sector. Today, many retirees are left with little choice but to retire on Social Security alone, making it a financial challenge. The average Social Security recipient … Read more
The Social Security cost-of-living adjustments (COLAs) are meant to help retirees maintain their purchasing power. However, these annual increases often fail to meet the actual financial needs of retirees. Here are 2 Big Problems With Social Security for Retirees that could put their financial stability at risk. 1. COLAs Often Fall Short of Real Inflation … Read more
Retiring on Social Security alone is challenging, but many seniors find relief in the fact that their benefits often go untaxed. However, President Trump Make Big Social Security Change may alter that landscape, potentially helping or hurting retirees. This proposal aims to eliminate federal taxes on Social Security benefits, but could it backfire? How Social … Read more
Social Security has long been a crucial source of income for retirees. However, many people fall for misleading information about the program, which can impact their financial future. One Social Security myth that could ruin your retirement plans is the belief that Social Security will fully replace your pre-retirement income. Social Security Won’t Replace Your … Read more
A New Retirement Savings Plan in North Carolina could soon help small business workers secure their financial future. Lawmakers have reintroduced a bill to create a “work-and-save” program, allowing employees to contribute to Individual Retirement Accounts (IRAs) through automatic payroll deductions. The initiative aims to support workers who lack employer-sponsored retirement plans, making saving for … Read more
The decline in pensions has left many Younger Retirees Depend on Social Security to cover their expenses. Without additional sources of income, many face a tough financial reality in their retirement years. Younger Retirees Depend on Social Security More Than Ever Recent research from the Employee Benefit Research Institute (EBRI) highlights a growing Younger Retirees … Read more
The annual cost-of-living adjustment Social Security recipients receive is both a blessing and a curse. On one hand, additional money, even if small, is welcome. On the other, those extra dollars can boost incomes just enough that beneficiaries may have to pay more taxes. Even worse, only 10 states still tax Social Security, which means … Read more
Social Security is facing a financial shortfall, which could lead to benefit reductions by 2035. But can lawmakers prevent Social Security benefit cuts before 2035? That remains a key concern for millions of retirees. It probably won’t surprise you to learn that Social Security is a key income source for millions of retired seniors today. … Read more
understanding 3 ways to secure your retirement if Social Security benefits shrink is crucial for financial stability because Social Security plays a crucial role in retirement planning, but its future faces uncertainty. According to the Social Security Administration (SSA), the program’s trust fund reserves are projected to run out by 2033. If no changes are … Read more