This Is How Much Social Security’s Financial Hole Could Cost Retirees a Year
A typical dual-income couple would lose $16,500 a year in benefits if the Social Security trust fund runs dry, a new report finds. The...
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RetirementGuy
Jun 271 min read
Top Ten Facts about Social Security
Eighty-eight years after President Franklin Roosevelt signed the Social Security Act on August 14, 1935, Social Security remains one of...
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RetirementGuy
Mar 141 min read
Will Retirees Get A Big Income Jump From 2025 Social Security COLA?
While the inflation rate has been easing downward, retirees' budgets are still being stretched pretty thin. Over the past few years,...
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RetirementGuy
Jun 22, 20231 min read
Three Common Social Security Misconceptions: Don’t Make a Claiming Mistake
Although Social Security provides a significant portion of the income most retirees depend on when their paycheck goes away, many people...
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RetirementGuy
Jun 15, 20231 min read
15 Best Places to Retire in The World On Social Security
n this article, we will take a look at the 15 best places to retire in the world on social security. If you want to skip the detailed...
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RetirementGuy
Jun 8, 20231 min read
Are You Waiting To Take Social Security At 70? Maybe NOT!
A lot has been written as to why you should wait until 70 to start collecting your Social Security benefits. In the right situation, that...
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RetirementGuy
Apr 6, 20231 min read
9 Ways to Help Clients Reduce Taxes on Social Security
How Are Social Security Benefits Taxed? Social security benefits can be subject to taxes as follows. If your client files as single and...
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RetirementGuy
Mar 30, 20231 min read
How to Qualify for Social Security Spousal and Survivor Benefits
If you never paid into Social Security or didn’t work long enough to qualify, you may need to rely on Social Security spousal and...
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RetirementGuy
Mar 9, 20231 min read
What raising the retirement age to 70 would mean for older Americans and Social Security
Democratic and Republican congressional leaders have said that Social Security and Medicare will not be part of any fight over the debt...
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RetirementGuy
Dec 8, 20221 min read
Social Security 2022: All the Major Changes That Happened This Year
In order to keep the system modernized — and in line with rising costs and incomes — the Social Security Administration announces regular...
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RetirementGuy
Oct 13, 20221 min read
Cost-of-Living Adjustment (COLA) Information for 2023
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023....
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RetirementGuy
Apr 28, 20221 min read
Just 1% of people aced this quiz on Social Security retirement benefits.
Deciding at what point you will collect Social Security benefits may be one of the biggest decisions you make in retirement. Yet many...
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RetirementGuy
Mar 10, 20221 min read
Calculating Taxes on Social Security Benefits
Many people are surprised to learn that Social Security benefits can be taxed. After all, why is the government sending you a payment one...
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RetirementGuy
Feb 17, 20221 min read
Will Social Security Automatically Delay Our Benefits Till 70?
Will Social Security Automatically Delay Our Benefits Till 70? Hi Larry, My wife will be our full retirement ages in April but we want to...
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RetirementGuy
Nov 25, 20211 min read
When Social Security benefits start and stop to be paid out explained
Social Security helps retired workers but it also pays benefits to widows, widowers, and children - benefiting more than 64 million...
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RetirementGuy
Oct 14, 20211 min read
Giant COLA: Mixed blessing!
Official confirmation that the January cost of living adjustment (COLA) for federal retirees will be 5.9% is good news. Up to a point! It...
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RetirementGuy
Sep 9, 20211 min read
What counts as income for SSI?
Income is a key factor in determining eligibility for Supplemental Security Income (SSI), a monthly benefit for people who are disabled,...
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RetirementGuy
Sep 2, 20211 min read
Social Security Reserves to Be Depleted Earlier than Previously Expected
Social Security’s trust fund will be able to pay full retirement benefits until 2033, one year earlier than predicted in 2020’s report....
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RetirementGuy
Mar 11, 20211 min read
How to Minimize Social Security Taxes
Retirees with low incomes or whose only source of income is Social Security generally don't pay income tax on their Social Security...
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RetirementGuy
Mar 4, 20212 min read
How to Apply for Social Security
1. Consider the Timing of Your Application The timing of your application can impact the amount you will receive in benefits. If you wait...
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