2024 Social Security COLA
On December 8, 2023,
Posted by admin ,
In Social Security, With Comments Off on 2024 Social Security COLA
The cost of living adjustment to 2024 Social Security checks will be 3.2%. For the average retired worker that equates to +$59/month, or +$708/year. The Social Security cost of living adjustment is indexed to CPI-W, which is larger than the chained-CPI that are used for tax bracket adjustment but calculated…
Black Friday Milestones
On November 26, 2022,
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In Investing,Retirement,Social Security, With Comments Off on Black Friday Milestones
What does Black Friday have in common with ages 50, 55, 59 1/2, 60, 62, 65, 67, 70, 70 1/2, and 72? They’re all milestones. Many Americans know Black Friday was traditionally the day that stores would “hit the black” with their finances for the year. But how many Americans…
I’m a retiree, what does a 5.9% Social Security COLA mean to me?
On October 16, 2021,
Posted by admin ,
In Social Security, With Comments Off on I’m a retiree, what does a 5.9% Social Security COLA mean to me?
Yesterday we talked about why the recently announced Social Security cost of living adjustment for 2022 is important to people who are not yet Social Security claiming retirees. Today it’s time to talk about those who are already claiming Social Security. This list has less surprises, but it isn’t any…
I’m not a retiree, what does a 5.9% Social Security COLA mean to me?
On October 15, 2021,
Posted by admin ,
In Benefits,Social Security, With Comments Off on I’m not a retiree, what does a 5.9% Social Security COLA mean to me?
If you aren’t yet claiming Social Security, it may seem unlikely that you are affected by the announcement on Wednesday about the 2022 Social Security cost of living adjustment. And while that may not have a big impact on you directly, the driving force of inflation behind this COLA could…
Updates to the layout of Social Security statements
On October 12, 2021,
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In Social Security, With Comments Off on Updates to the layout of Social Security statements
Your Social Security statement is a document that informs you about your prior work earnings, and lays out what that translates into for future potential benefits. These statements used to be mailed annually to everyone, but currently they are only mailed annually to those who are: 60+ years oldAND not…
How much can I save in tax advantaged accounts in 2021?
On November 8, 2020,
Posted by admin ,
In Retirement,Savings,Social Security, With Comments Off on How much can I save in tax advantaged accounts in 2021?
Recently released, the 2021 retirement accounts details! The good news – there are some income limit bumps for increased/inflation-adjusted access to traditional and Roth IRA contributions. The bad news – if you’re a super saver, maxing out all of your retirement accounts in 2020, there’s no room for growth here…
April showers bring May …. 457b enrollment
On May 2, 2020,
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In Benefits,COVID-19,FAFSA,Open enrollment,Social Security, By benefits,COVID-19,fafsa,open enrollment,social security , With Comments Off on April showers bring May …. 457b enrollment
Welcome to May! I am a big fan of flowers, so I love May Day. But besides flowers, if you work for a non-profit whose 457b cycle is on the half-year, then May Day also brings the start of a special benefit open enrollment period for highly compensated employees. Wait…
Unemployment and Social Security
On May 1, 2020,
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In Benefits,COVID-19,Social Security, By benefits,COVID-19,social security , With Comments Off on Unemployment and Social Security
The question I was asked today was about someone who was furloughed, and age 65. They were told to apply for Social Security when they applied for their unemployment benefits. Questions were whether this was a good idea in general, whether it could be made a good idea by taking…