Tax bill on 2023 Social Security benefits could surprise retirees
Last year's 8.7% COLA may push many recipients over the income threshold for the first time.
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Last year's 8.7% COLA may push many recipients over the income threshold for the first time.
You can’t ignore the "use it or lose it" aspect of staying mentally sharp, which continuing to work can help with.
"The more you feel like it's your money that the government has been sitting on, the sooner you want it back."
The recent annual report for the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays retirement and survivor benefits, showed Social Security's reserves are projected to run out in 2033, a year earlier than…
“We don't even include Social Security in our clients’ retirement income plans until they are ‘actually’ taking it.”
There are things that can be done relatively late in the game.
A number of retirement reforms were included in the federal spending package that passed Congress.
This dearth of retirement savings has lasting repercussions for future retirees.
Most older Americans will have a sizable boost in their monthly retirement income next year.
An 8.7% bump still is uncommon and would be the largest since 1981, when the COLA was 11.2%. A COLA of 8.7% would ramp up the average retiree benefit of $1,656…