SAN FRANCISCO, CA – According to a recent survey conducted by the Transamerica Center for Retirement Studies, the median age at which retirees left the workforce was 62, with 58% retiring before the age of 65. In contrast, the median age at which those who are still working expect to retire is 67. The survey of over 4,500 Americans aged 50 and older also revealed that nearly one in five do not plan to retire …
Atlanta, Georgia – Understanding the complexities of Social Security benefits, including Supplemental Security Income (SSI), is crucial for achieving financial stability. One fundamental aspect to consider is work credits. SSI calculates work in these credits, allowing individuals to earn up to four per year based on their annual earnings. The required amount of earnings for a work credit increases annually as general wage levels rise. For most benefits, eligibility is determined by earning an average …
Denver, Colorado – A bill that recently progressed in the Colorado State Capitol could potentially require state-regulated insurers and Medicaid to provide coverage for weight loss drugs for individuals who are either obese or prediabetic. Despite facing opposition from the Division of Insurance and the Department of Health Care Policy and Financing, the bill managed to pass the Senate Appropriations Committee. The bill’s estimated cost implications have raised concerns, with the state’s Medicaid system potentially …
Pittsburgh, Pennsylvania – Voters in Pennsylvania will head to the polls on Tuesday for a series of critical races in the key battleground state, despite the primary elections being seen as mere formalities for the presidential and Senate races. One of the highly contested races is the Democratic primary around Pittsburgh, where tensions are high. There is also a primary in eastern Pennsylvania featuring a moderate Republican facing off against a right-wing challenger. Activists concerned …
Los Angeles, California – Social Security has long been viewed as a safety net rather than a primary source of retirement income. Many financial experts advise that for a comfortable retirement, individuals should not rely solely on Social Security benefits, especially for those who have been diligent in investing and saving for the future. However, for those looking to maximize their Social Security benefits, there are specific criteria to meet. One key factor in determining …
Washington, DC – As the 2024 presidential election approaches, the debate over how to reform Social Security has become a critical issue for both President Biden and former President Trump. The future of Social Security funding and benefit rules is at the center of discussions, with projections suggesting that the key trust fund supporting retirement benefits could run dry by 2033 or 2034 without intervention, leading to potential benefit reductions of 25% or more. Policy …
Des Moines, Iowa – Former President Donald Trump has clinched a victory in the Iowa caucuses, as reported by CBS News, marking a significant step in the 2024 Republican presidential nominating process. Winning over key voting blocs and showcasing widespread support, Trump is aiming to solidify his control over the party and emerge as the frontrunner in the primary season. Early interviews with Iowa Republicans revealed that immigration and the economy are the primary motivating …
Former President Donald Trump and President Biden are gearing up this week to address issues they believe will give them a political edge as the fall approaches. Trump is set to focus on illegal immigration during an upcoming event in Michigan, while Biden has planned a White House event to tackle the pressing issue of lowering health-care costs. Both leaders are strategically choosing topics close to their core supporters. Trump’s emphasis on illegal immigration aims …
Boston, MA – As individuals approach retirement, there are essential ages to keep in mind for financial planning. Understanding when to claim Social Security benefits is crucial, as the full retirement age for individuals born in 1960 or later is 67. However, individuals have the option to start collecting smaller benefit checks as early as 62 or wait until age 70 for larger benefits, necessitating careful consideration. Turning 65 is significant as it marks the …
Baltimore, Maryland – The aftermath of the collapse of Key Bridge in Baltimore has led to the deployment of over 2,400 feet of boom to contain possible leaks of pollution, according to Governor Wes Moore on Thursday. The incident has raised concerns about the potential release of hazardous materials into the surrounding environment. Governor Moore personally inspected the site and reported no visible sheen on the water, indicating that the containment efforts were effective. The …