retirement planning

Key Takeaways Social Security benefits can be claimed as early as age 62, but each year you delay receiving them increases your monthly payment—up to age 70. In 2024, the average monthly benefit for those who waited until 70 was $3,235, which is $1,900 more than if they had started at 62. Waiting often makes […]

Medicare Premiums to See Smaller Increase in 2027 Millions of Medicare beneficiaries may experience a smaller-than-expected increase in their monthly health insurance premiums next year, according to the latest 2026 Medicare Trustees Report. The report estimates that the standard Medicare Part B premium will rise from $202.90 per month in 2026 to about $209.50 in […]

New data on health care costs for seniors might mean it’s time to revisit your retirement plan. According to a recent estimate from Fidelity Investments, health care costs are expected to rise significantly, and these expenses could quickly eat into retirement savings. The 25th annual Retiree Health Care Cost Estimate suggests that a 65-year-old who […]

The Growing Concerns Surrounding Social Security Social Security has long been a cornerstone of financial stability for retirees in the United States. However, recent developments have raised significant concerns about its future viability. One of the primary worries is the depletion of the Social Security trust fund, which is projected to run out by 2032. […]

Understanding the Risks of Claiming Social Security Early As a certified public accountant, you have a unique perspective on financial planning and risk management. Your concern about advising clients to claim Social Security early is valid, especially given the uncertainty surrounding the future of the program. The Old-Age and Survivors Insurance (OASI) trust fund is […]

Key Steps to Take Before Retiring in 2026 As the end of 2026 approaches, it’s time to start thinking seriously about your retirement plans. The decisions you make now can significantly impact your financial future. Here are three essential steps to consider before officially retiring. 1. Develop a Retirement Withdrawal Strategy If you’re retiring with […]

Understanding the Implications of Social Security’s Trust Fund Depletion Social Security is a critical component of retirement planning for millions of Americans. However, recent projections indicate that the Old-Age and Survivors Insurance (OASI) trust fund will be depleted by 2032. After this point, payroll taxes will only cover approximately 78% of scheduled benefits, which means […]