President Biden Inflation Could Create Social Security Increase for Seniors in 2022

Article Excerpt: "...Each year, Social Security recipients are eligible for a cost-of-living adjustment, or COLA. COLAs are calculated based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures fluctuations in the cost of common goods and services. When inflation strikes and the CPI-W rises, seniors on Social Security are given a raise. But when the CPI-W drops or stays flat, seniors can be denied a COLA..."

Resource: www.msn.com

CPI-W,2022 COLA,

How to Boost Your Retirement Income When Social Security Only Covers 40%

Article Excerpt: "...These tips on retirement saving and investing can help retirees get more income than Social Security provides...."

Resource: www.fool.com

Retirement Tips

Your Residence Is Your Retirement

Article Excerpt: "...For many contemplating retirement, one’s future living arrangements is the most thought about – yet least acted upon – aspect of retirement planning. According to the U.S. Bureau of Labor Statistics even though housing is the largest average cost in retirement, older Americans move far less often than the general population..."

Resource: www.forbes.com

How to fight off boredom in retirement

Article Excerpt: "...There are other ways to stoke your curiosity. Start a “Things To Learn About” list and keep it in a visible place. For instance, ask neighbors how they’ve planted such a lush garden or read about a foreign country to get to know it better..."

Resource: www.marketwatch.com

Mistakes to Avoid When You Retire from a Federal Job ...or Postal Service Job

Article Excerpt: "...While some of them may come a little late in the year for those of you who have already decided to leave around the end of this year, they will really help any of you who are planning to retire in 2021 and beyond..."

Resource: www.fedweek.com

Retirement Tips

What it Takes to Be an Average Retiree

Article Excerpt: "...What is “average” of course depends on what is being measured, but it’s instructive to see how federal retirees fit in a recent study by the Employee Benefit Research Institute which concluded that there are five broad categories of retirees. In the middle, of course, are what it called average retirees. They are characterized, for example, by having “intermediate” levels annual income—for three-fourths of them, between $40,000..."

Resource: www.fedweek.com

Average Retiree

The ins and outs of the FERS supplement

Article Excerpt: "...The supplement represents what you would receive for your FERS civilian service from Social Security. It is calculated as if you were eligible to receive Social Security benefits on the day you retired. The supplement is paid by the Office of Personnel Management as part of your FERS retirement. Here are five things to know if you’re thinking about retiring with a FERS supplement—or are already receiving one..."

Resource: www.govexec.com

If I stop working before I claim Social Security, will my monthly benefit amount be reduced?

Article Excerpt: "...Not necessarily. Your benefit will not fall — you are due a certain benefit based on your work up until now. Quitting work before you're old enough to claim benefits won't reduce that amount when you do claim it. But if you stop work now, your benefit won't get any larger. Social Security benefits are based on your highest 35 years of earnings. If you have fewer than 35 years..."

Resource: www.aarp.org

Changing Your Mind on Key Retirement Decisions

Article Excerpt: "...In some cases, they realized that they weren’t ready to retire emotionally or mentally. In others, they figured out that their annuity actually wouldn’t be enough to get by on. Others had made a snap decision to retire because of some conflict or development in the workplace..."

Resource: www.fedweek.com