The Social Security Administration recently announced a 2017 cost-of-living adjustment, or COLA, of 2%, meaning that Social Security recipients will receive this increase to their monthly benefit checks staring in December 2017. This is the highest COLA in six years and is welcome news for many American retirees. However, it may not mean a heck of a lot in the end. …
Retiring Before 60
If that is your dream, explore whether these steps could be useful to take. Provided by Reeve Conover – Conover Consulting How could you retire in your fifties by choice? You will need abundant retirement savings and ways to access your retirement assets that lessen or avoid early withdrawal penalties. You may also need to have other, sometimes overlooked, components …
Before You Claim Social Security
A few things you may want to think about before filing for benefits. Provided by Reeve Conover – Conover Consulting Whether you want to leave work at 62, 67, or 70, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first.
When will Medicare/Social Security run out of money?
The 2017 version of the answer to this question has just been released by the trustees of both pools of money. According to an article in Marketwatch:
Minuscule Social Security Raise
FROM CBS NEWS: Retirees on Social Security are likely to bank a pay raise next year for the first time since 2015 — though many won’t even notice the cost-of-living increase in their benefits, which will amount to a cup of coffee or two for the average recipient.
When Is Social Security Income Taxable?
The answer depends on your income. Your Social Security income could be taxed. That may seem unfair, or unfathomable. Regardless of how you feel about it, it is a possibility.