Inflation appears to be losing steam. The Bureau of Labor Statistics reports that the inflation rate was 4.9% in April 2023, the smallest increase since April 2021 and the first increase below 5% in two years. This trend is good…
moreSeniors, like everyone, are feeling the pinch. Inflation is rampant, with higher prices spurred on by a multitude of factors including Covid, the Ukraine conflict, supply chain bottlenecks, and probably a good amount of profiteering, too. And it’s not just…
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It’s official: The 2022 Social Security Cost of Living Adjustment (COLA) will be 5.9%. COLA is based on the rate of inflation, and next year’s increase is the largest in 40 years. It reflects the higher prices consumers have been…
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With inflation on the rise, it looks like retirees are going to get a hefty Social Security Cost of Living Adjustment in 2022. The latest consumer price data would put the increase at 6.1%. This follows many years of paltry…
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You may be surprised to learn that Medicare and Social Security will not automatically honor your Durable Power of Attorney or Health Care Surrogate. These are powerful legal documents that everyone should have in their planning toolkit, but when it…
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The Social Security annual cost-of-living adjustment (COLA) for 2021 has been announced: 1.3%. This is among the smallest increases ever, and the smallest since 2017. According to the Social Security Administration, the 1.3% increase will translate to an additional $20 for…
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If you have not signed up for an online Social Security account, you really should. If you have signed up but are not checking the information at least annually, you really should do that, too. As a cost-cutting measure, in…
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In a July 2017 post we addressed why it is important to educate yourself about Social Security benefits, and to not rely solely on advice from the agency. A recent report from the Inspector General provides fresh support for this…
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About 10,000 Americans turn 65 each day, according to the Pew Research Center. Social Security offices are fielding massive numbers of inquiries as the Baby Boomers head into their benefits-collecting years. Unfortunately, studies show that office staff do not consistently…
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Despite all the trauma that accompanies the death of a loved one, certain tasks must be attended to without too great a delay. If the decedent was receiving Social Security benefits, one of the tasks is notifying the Social Security…
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