A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...The SSEA would boost benefits for current and new Social Security beneficiaries by $200 per month, or $2,400 per year. Individuals wouldn’t have to wait until their full retirement age under the bill, either. Anyone who turns 62 would be eligible for the increase. In addition, DeFazio and Sanders want to increase Social Security’s cost-of-living adjustments (COLAs). ..."
Article Excerpt: "...The average Social Security benefit in 2022 is $1,657, while beneficiaries can receive up to $4,194 a month. ...If you're receiving less than you expected, it may be due to one of the following reasons..."
Article Excerpt: "Our state owes a great deal of gratitude to retired Americans, and those about to retire, who have contributed so much to our community. ...Under a new law I voted for, Illinoisans on Medicare are now able to switch supplemental plans without worrying about higher premiums, underwriting or pre-existing conditions. "
Article Excerpt: "...Retirement and Social Security benefits guide with help from AARP retirement calculator and tips on when to collect 401k and other investments. ..."
Article Excerpt: "...“The reality is that CPI-W number that is released by the BLS doesn’t include everything we spend our money on,” Kowalik said in an interview. As cost-of-living is relative to the economy, so too are benefits relative to expenses for retirees. A study from The Senior Citizens League found that since 2000, COLAs have increased Social Security benefits by a total of 64%, yet typical senior expenses through March 2022 more than doubled, at 130%...."
Article Excerpt: "...average gas price in the United States went above $5 for the first time in history. Now, they’re even higher. The average price as of... Biden next month is planning to visit Saudi Arabia to convince OPEC+ to up energy production ...An analysis in The Hill, however, suggests that the controversial move is unlikely to work."
Article Excerpt: "...As stock prices continue to slide, is it really the right time to retire? The S&P 500 officially entered a bear market after falling more than 20% from its peak in early January... nearing retirement, all of this market volatility can be especially unnerving..."
Article Excerpt: "...During periods of high inflation, investors may need to set aside a larger percentage of income for retirement savings. At the same time, the rising cost of living can increase the risk of prematurely depleting a retirement nest egg. And as John Rekenthaler has pointed out, higher inflation that takes place during the first five years of retirement can be particularly damaging..."