Social Security Program Changes
Social Security Program Changes, Effects on Reverse Mortgage Borrowers This year, the Social Security program will be seeing its largest cost of living adjustment (COLA) in seven years, with beneficiaries receiving an additional 2.8 percent to their benefit payout. The result of the COLA for the average individual retired Social Security beneficiary is expected to…
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Social Security Insecurity Pressing The Reset Button: The Gap Years. Social Security & an IPA Social Security Insecurity. As human lifespan climbs steadily towards the century mark, Social Security is only one — and woefully inadequate — means of funding a lengthening retirement period. In fact, we’re in the midst of creating second-stage work lives, or…
Read MoreSocial Security crisis
BlackRock’s Larry Fink sees Social Security crisis, says 65 retirement age ‘a bit crazy’ KEY POINTS In his annual letter to shareholders, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. “Today in America, the retirement message that the government and companies…
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It’s Getting Harder to Qualify for Social Security Benefits in Retirement. Here’s the Reason Why To qualify for Social Security benefits, you need to accumulate 40 work credits in your lifetime. You can accrue a maximum of four credits per year. The value of a single work credit is rising in 2025, so part-time workers…
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Social Security Recipients Could Get a Massive 11% Raise Next Year Surging inflation could lead to the biggest boost to monthly Social Security benefits since 1981. The 2023 Social Security cost-of-living adjustment, or COLA, would be 10.8% if inflation continues at its current pace, according to a new prediction from the non-profit Committee for a…
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What you don’t know about Social Security benefits could cost you For so many, Social Security is the safety net they just cannot live without. But knowing when to collect your benefits and understanding the system’s complex rules can be very vexing. In a poll earlier this year conducted for MassMutual, nearly half of respondents…
Read MoreSocial Security, 70 is the New 65
When It Comes to Social Security, 70 is the New 65 If you’re reading this story, you’re likely at least 50 years young. Yes, young — and I don’t mean it in the cutesy way that people sometimes talk about aging. I mean it in that living well into your 80s and beyond is no…
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Today, many of our retired seniors are struggling to make their money last from month to month as inflation has taken a big chunk out of their monthly income! And, many don’t have enough saved and rely solely on Social Security to get by. According to a Federal Reserve study, only 54% of Americans have…
Read MoreSmart Use of Housing Wealth
The Academy of Home Equity in Financial Planning focuses on smart use of housing wealth. Former Funding Longevity Task Force gets a new name and a new institutional partner. As defined benefit plans and pensions become a thing of the past, researchers continue to extoll home equity’s critical role in retirement income planning. For some…
Read MoreSkipped meals to afford their housing payments
39% of Americans say they’ve skipped meals to make housing payments: reportand 61% cite their financial situation as a stress point in their lives. The Clever Real Estate survey found that millennials faced the greatest challenge making housing payments. With inflation still at levels not seen in years, many Americans are saying they’re feeling financially…
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