Though workers have seen moderate increases in health insurance premiums in recent years, deductibles and the number of workers paying them have increased sharply, according to a new study by Kaiser Family Foundation.
When should you begin taking Social Security benefits? That was a question asked of AARP.org visitors and registered website users . Less than 19 percent selected age 70, though that’s exactly what I tell the vast majority of my clients to do. Most object to my recommendation until I frame the decision in a different way, which is that they can spend money now and still let it grow.
En español | On the morning of Aug. 14, 1935, Americans awoke in a country vastly different from the one we know today. The Great Depression had brought us to the point where, in the words of President Franklin D. Roosevelt, “one-third of the nation [was] ill-housed, ill-clad [and] ill-nourished.”
En español | Nearly 60 million Social Security recipients will probably not get a cost-of-living increase next year, according to projections in the 2015 Social Security and Medicare trustees reports.
Inflation lately has been pretty tame. Still, the possibility that it could raise its ugly head again, eating away at our spending power and standard of living, is always in the back of our minds. That’s why it’s important to understand inflation to better protect ourselves from its potential impact. Knowing these myths about inflation is a good place to start.
I often hear that interest rates are awful and that it's the worst time ever for retirees needing to live on fixed income. Yet when you look at after-tax, inflation-adjusted returns, a different picture emerges.
As the largest nonprofit, nonpartisan organization representing the interests of Americans age 50 and older and their families, AARP urges the budget conference committee to reject harmful cuts to Social Security and Medicare benefits for the purpose of achieving deficit reduction or as a tradeoff for scheduled sequestration cuts or other government spending. While we agree that sequestration cuts will have a growing impact on critical discretionary programs and should be revisited, we remain steadfast in our commitment to protect the earned benefits upon which millions of Americans rely daily, and we oppose cutting Medicare and Social Security benefits to replace sequestration cuts.
The annual Social Security cost-of-living adjustment (COLA) is critically important to the financial security of the nearly 58 million Americans receiving benefits. By providing protection against inflation, the COLA helps beneficiaries of all ages maintain their standard of living, keeping many from falling into poverty. The COLA announced today is vital to millions, but at an average of just $19 per month, it will quickly be consumed by the rising costs of basic needs such as food, utilities and health care.
It's not only politicians who have mixed reactions to a different way of calculating cost-of-living adjustments to Social Security benefits. Newspaper editorial writers and columnists are conflicted, too.
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