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The Social Security Administration announced a whopping 5.9 percent boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2022. The increase is based on the rise in the Consumer Price Index over the past 12 months ending in September 2021. For those contributing to Social Security through wages, the potential maximum income …
Continue reading Inflation Spikes Social Security Checks for 2022
What you need to know We're always being reminded to save for retirement in tax-advantaged accounts like 401(k)s or IRAs. But did you know the government does an about-face and forces us to take money out of those accounts once we reach retirement? It's called the required minimum distribution (RMD) rule. Here are some tips …
Continue reading Forced to Withdraw from Retirement Accounts?!?!?
Now is the time for taxes AND reviewing your Social Security earnings report. Most of us go through life without being concerned with, or ever checking on, our Social Security records. We assume the money deducted each payday and an equal amount paid in by our employer is applied properly to this valuable retirement benefit. …
Continue reading Review Your Social Security Earnings Report
The Social Security Administration announced a 1.3 percent boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2021. The increase is based on the rise in the Consumer Price Index over the past 12 months ending in September 2020. For those contributing to Social Security through wages, the potential maximum income subject …
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