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Senior Citizens League wants more for COLA, three percent they demand

November 5, 2014 by Leave a Comment

Senior Citizens League wants more for COLA, three percent they demand

Last week the Senior Citizens League released an article demanding a higher COLA in response to the Social Security Administration’s announcement of a 1.7% increase in benefits for retirees.

About $113 Missing from Social Security in 2015, Says The Senior Citizens League.

Only a day after Social Security announced a 1.7 percent cost-of-living increase for beneficiaries in 2015, The Senior Citizens League is calling for a minimum increase of 3 percent, which was the average before 2010. The group’s leader, Ed Cates, says benefits of the typical Social Security recipient will be about $5,298 lower by the end of 2015 due to the government not maintaining at least a 3 percent increase.

Are your a senior? Do you agree? Share your feedback. We’d love to hear from you!

http://www.seniorjournal.com/NEWS/SocialSecurity/2014/20141023_Minimum-Social-Security-COLA-of-Three-Percent-Demanded-by-Senior-Citizens-League.htm

Filed Under: Advanced Retirement Planning, Basic Retirement Planning, Business Advice, Financial Advisors, Press Releases, Retirement News, Social Security Tagged With: , , , , , , , , ,

No need to spend 2015 COLA increase on health costs

November 2, 2014 by Leave a Comment

No need to spend 2015 COLA increase on health costs

Here’s some great news for retirees on fixed budgets that are often stretched by medical expenses. Monthly premiums for Medicare Part B and the related deductible for 2015 will remain the same as in 2013 and 2014, according to a recent announcement from the U.S. Department of Health & Human Services (HHS).

It means retirees won’t have to spend any of the latest cost of living increase (COLA) in Social Security benefits — a 1.7 percent rise — on higher Medicare premiums.

Here Steve Vernon outlines the latest about Medicare and it’s relation to the most recent COLA developments.

In what ways have you spent your COLA in the past? Do you spend it on medical costs? Share your feedback. We’d love to hear from you!

http://www.cbsnews.com/news/medicare-costs-that-wont-be-rising-in-2015

Filed Under: Advanced Retirement Planning, Basic Retirement Planning, Business Advice, Financial Advisors, Retirement News, Social Security Tagged With: , , , , , , ,

Using your $20-a-month COLA increase to make a difference

October 30, 2014 by Leave a Comment

The reaction by a lot of retirees last week to the news that their Social Security checks will rise next year by an average of $20 per month amounted to “Thanks for nothing.”

The question is whether they can turn that nothing into something.

Read Chuck Jaffe’s suggestion of how to make a little go a long way…

http://www.marketwatch.com/story/how-to-make-your-20-a-month-cola-increase-make-a-difference-2014-10-27

How much of a percentage increase in COLA would you like to see? Have you noticed or paid much attention to this retirement need-to-know in the past? Share your feedback. We’d love to hear from you!

Filed Under: Advanced Retirement Planning, Basic Retirement Planning, Business Advice, Financial Advisors, Retirement News Tagged With: , , , , ,
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