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Question: I am 66 years old and have stopped working. What factors affect my retirement benefit amount?   Answer: You’re eligible to get Medicare at age 65 and the sign-up process for Part A (Hospital Insurance) and Part B (Medical Insurance)...
social security benefit

Social Security Q&A

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Q: I received a letter from Social Security that they paid me more than they should have. What should I do now? (X. Miranda, Miramar)   Answer: If you got a letter in the mail that says you received more money...
By Michael Berkhahn, CFP®  For millions of baby boomers, the retirement plans they carefully crafted over decades were severely shaken due to the pandemic. For a variety of reasons, many pre-retirees found themselves exiting the workforce earlier than anticipated. Fast...
By Michael Berkhahn, CFP® According to GoBankingRates, Tampa residents who saved $1 million for their retirement will run out of money in 18 years, four months, and 7 days on average. Couple that with a recent Charles Schwab Survey which...
The Social Security Administration celebrates Financial Literacy Month (FLM) every April to promote financial education and well-being in the United States. FLM also serves as a reminder that Social Security is a vital part of any financial plan. Our online...
Question: How much is the Medicare Premium for 2024?  Also, if I enroll in January 2024 when will my coverage begin? (E. Thomas, Coconut Creek)   Answer: The Medicare Premium coverage for 2024 is $174.70. If you enrolled in January 2024,...
Article and image courtesy of North American Precis Syndicate (NAPSI)  Money can be a stressor for many, but you don’t have to be among them. Creating a game plan and understanding these key terms can help improve your financial health.  Credit...
From the AARP Bulletin, February 2024  Inflation has hurt lots of people on fixed incomes, but it has also created a potential piece of good news: the federal IRS tax brackets have been adjusted to reflect inflation. That could mean...
Question: Will my Medicare premiums be higher because of my higher income?  Answer:  Some people with higher income may pay a larger percentage of their monthly Medicare Part B and prescription drug costs based on their income. We call the additional...
Question: How can I see my earnings or my Social Security statement? (G. Hatter, Ft. Myers)   Answer: You can get your Social Security Statement (Statement) online by using your personal my Social Security account. Your online Statement gives you secure and convenient access to estimates for...
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