If you’re retired, Social Security checks likely play a big role in your finances. Even if you have personal savings, losing a portion of your benefits could make it harder to maintain your lifestyle. Unfortunately, some retirees must give part of their checks back to the government due to taxes. At the federal level, Social … Read more
Many Americans rely on Retirement, Survivors, and Disability Insurance (RSDI) benefits for financial support. If you’re part of Group 4, you can expect your next Social Security check to arrive soon, with a slight increase. Let’s break down who qualifies for this payment, when you’ll receive it, and how much you might get. Understanding RSDI … Read more
Many retirees are caught off guard when they realize that their Social Security benefits can be taxed. These benefits are meant to provide financial support, but depending on your income, a portion of them could be subject to federal taxes. In fact, up to 85% of your Social Security benefits may be taxed if you … Read more
Lately, there’s been a lot of talk about whether people over 100 years old are still receiving Social Security payments. Some even claim that people as old as 300 years are getting checks! But is this really happening? Let’s break it down in simple terms. What’s really happening? So, there’s been talk about whether people … 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
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
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
Retirees in the U.S. just got some unfortunate news. Impending COLA change, the Social Security Administration (SSA) has announced that the cost-of-living adjustment (COLA) for 2025 will be one of the lowest in years. While COLA is meant to help seniors keep up with inflation, the new adjustment falls short. Many retirees might struggle to … Read more