On Retirement

Oct 5, 2021, 10:55 AM EDT

Few are prepared for long-term care costs

By Mary Beth Franklin

Families continue to provide the bulk of unpaid care, according to a new report that estimates more than one-third of individuals don't have the resources for even a year of minimal care. Read full post

Sep 28, 2021, 10:00 AM EDT

The biggest gaps in Medicare: Dental, hearing and vision coverage


By Mary Beth Franklin

A new study details the uncovered costs retirees face for those services as Congress considers expanding Medicare Part B to include such coverage. Read full post

Sep 17, 2021, 10:36 AM EDT

Putting Social Security’s financial outlook in perspective

Social Security

By Mary Beth Franklin

The acceleration in the projected depletion of the trust fund is bad, but given that this was the first report to include the effects of the pandemic-induced recession, the news could have been worse. Read full post

Sep 14, 2021, 2:35 PM EDT

Medicare open enrollment begins Oct. 15

open enrollment

By Mary Beth Franklin

Clients don't have to make any changes, but they may be able to save money by re-shopping their prescription drug coverage. Read full post

Aug 31, 2021, 3:05 PM EDT

Social Security trust fund to be depleted 1 year sooner than expected

By Mary Beth Franklin

The 2021 Trustees Report shows the trust funds will run dry in 2034 as a result of the economic fallout from the pandemic. Read full post

Aug 25, 2021, 4:25 PM EDT

Serial spouse has several Social Security claiming options

claiming options

By Mary Beth Franklin

The woman, who's twice divorced and widowed, can select the biggest of the benefits available. Read full post

Aug 18, 2021, 9:13 AM EDT

How inflation affects Social Security, Medicare and taxes


By Mary Beth Franklin

Higher benefits resulting from a cost-of-living adjustment could be offset by bigger Medicare premiums and larger tax bills. Read full post

Aug 10, 2021, 10:47 AM EDT

How COLA affects Social Security benefits

By Mary Beth Franklin

Those 62 and older profit from cost-of-living adjustments even if they're not yet collecting benefits. Read full post

Aug 5, 2021, 12:01 AM EDT

Workers save for retirement despite pandemic challenges


By Mary Beth Franklin

Americans experienced a wide range of financial consequences during the pandemic. A new survey analyzes the financial impact of the pandemic on different generations Read full post

Jul 28, 2021, 10:03 AM EDT

Coalition calls for retirement security task force

retirement security

By Mary Beth Franklin

Key retirement industry groups urge President Biden to put in place a coordinated federal approach to the crisis. Read full post

Jul 22, 2021, 3:10 PM EDT

Rush to munis could boost Medicare premiums


By Mary Beth Franklin

The income calculation for Medicare and Social Security includes tax-exempt interest on municipal bonds. Read full post

Jul 13, 2021, 12:23 PM EDT

Social Security COLA likely to top 6% in 2022


By Mary Beth Franklin

Continued inflationary pressures could result in the largest cost-of-living increase in benefits since 1983. Read full post

Jul 12, 2021, 1:39 PM EDT

Biden fires head of Social Security Administration

By Mary Beth Franklin

The political infighting won't affect the $1 trillion in benefits Social Security sends each year to 65 million Americans. But it will likely make it more difficult to begin work on a solution to the program's long-term financial challenges. Read full post

Jun 30, 2021, 8:00 AM EDT

Covid raises awareness, concerns about Social Security

Social Security

By Mary Beth Franklin

71% of American adults worry that the program will run out of money during their lifetime and 19% say the pandemic has affected their plans to file for Social Security benefits, according to a Nationwide survey. Read full post

Jun 25, 2021, 4:25 PM EDT

Covid highlights need for long-term care planning

care planning

By Mary Beth Franklin

While the pandemic undermined Americans' confidence in nursing homes and home care is preferred, its cost could exceed that of a nursing home. Read full post

Jun 14, 2021, 9:15 AM EDT

Rethinking retirement in the wake of the pandemic


By Mary Beth Franklin

Covid has helped retirees focus on the importance of well-being over wealth. A new study shows that the timing and funding of retirement have shifted as a result of the pandemic and that retirees are paying more attention to the nonfinancial aspects of retirement. Read full post

Jun 10, 2021, 1:00 PM EDT

Black and Hispanic Americans still least prepared for retirement


By Mary Beth Franklin

While the annual Retirement Confidence survey shows Americans in 2021 had near-record-high confidence in having enough money for retirement, the survey also includes an analysis of the challenges Black and Hispanic Americans face in saving and preparing for retirement. Read full post

Jun 9, 2021, 8:05 AM EDT

3 Social Security do-over options


By Mary Beth Franklin

Here are strategies that can be helpful for clients who have regrets over the timing of their Social Security claiming decision, whether they claimed early rather than holding out for a bigger check or waited longer than necessary. Read full post

May 31, 2021, 7:49 PM EDT

Social Security announces partial reopening of field offices

field offices

By Mary Beth Franklin

The agency has unveiled a new 'express interview' process to help people apply for original or replacement Social Security cards and submit necessary proof of identity in person. But it encourages the public to continue to submit applications online. Read full post

May 27, 2021, 1:27 PM EDT

Fewer retirees are claiming Social Security at 62


By Mary Beth Franklin

But unemployment resulting from Covid could temporarily reverse that positive trend. Read full post

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