Key Points The Bureau of Labor Statistics released the July inflation report earlier today, Aug. 12, which showed a slight easing in trailing 12-month price increases. Looking solely at the headline inflation figure can be deceiving, as Social Security’s 2027 cost-of-living adjustment (COLA) is on track to make history in a variety of ways. Additionally, […]
Key Points Social Security benefits can be difficult to understand. Checking these blind spots can increase your monthly payments. The $23,760 Social Security bonus most retirees completely overlook › Claiming Social Security benefits can be a complex and confusing process for retirees. As a result, many retirees leave money on the table by glossing over […]
Key Points Certain expenses in retirement can be substantial and somewhat unpredictable. Have a plan for covering healthcare and housing. Budget accordingly so you can afford to fill your days with meaningful activities. The $23,760 Social Security bonus most retirees completely overlook › Before you retire, there are a few key financial moves you should […]
Key Points If you’ve retired early and are collecting Social Security, working could lower that benefit — at least temporarily. You might also lose means-based benefits from Medicaid or the Supplemental Nutrition Assistance Program. It could also affect subsidies you might be receiving via the Affordable Care Act’s Health Insurance Marketplace. The $23,760 Social Security […]
Key Points Borrowing from a 401(k) might seem like an easy way to get access to money. You don’t need a credit check, and you’re repaying yourself instead of a bank. There can be huge consequences if you don’t repay your loan on time, so proceed with caution. The $23,760 Social Security bonus most retirees […]
Key Points The average 60-year-old living in the United States has saved up a sizable sum for retirement. Most people at or around this age have much less than this highly skewed average. If you’re still working and contributing to your retirement account, you’ve got time to significantly expand your savings. The $23,760 Social Security […]
Key Points Consistently strong taxable earnings are the foundation for above-average Social Security retirement benefits. Future retirees, however, must also earn these higher incomes for a little longer than most people wish to work. Holding off for as long as possible before claiming benefits also bolsters your future benefits. The $23,760 Social Security bonus most […]
Key Points You may qualify for spousal benefits if you didn’t earn enough to get Social Security on your own. It’s important to know when you can file for spousal benefits. Also understand what income those benefits might lead to. The $23,760 Social Security bonus most retirees completely overlook › Qualifying for Social Security benefits […]
Key Points Medicare has a standard premium it charges for Part B, while Part D costs are plan-specific. If you earn too much money, you could face surcharges on Part B and D premiums. Withdrawing from savings strategically and choosing the right retirement plan could help you avoid paying more for Medicare. The $23,760 Social […]
Key Points Age 62 is the earliest you can collect Social Security. Age 65 is when you can enroll in Medicare. There are several other important ages, too. The $23,760 Social Security bonus most retirees completely overlook › As you develop your retirement plan, you may notice that lots of decisions and events happen at […]
Key Points The overall averages are more than most people actually have saved up. The figure in question also depends on what’s considered “retirement savings.” Every future retiree needs to make a spending plan, as well as a personal growth projection. The $23,760 Social Security bonus most retirees completely overlook › In theory, where your […]
Key Points Though 401(k)s offer many benefits, it’s hard to get access to your money before a certain age. You may want to branch out to another account, especially if you don’t love your 401(k)’s investment choices. You should contribute enough to your 401(k) to get your workplace match in full. The $23,760 Social Security […]
Key Points Your Social Security benefits in retirement are tied to your wage history. Growing your income could lead to larger checks. Reviewing your earnings record could help you avoid reduced benefits due to errors. The $23,760 Social Security bonus most retirees completely overlook › When you’re in your 40s, you may not be so […]
Key Points Social Security is six years from a potential 22% benefit cut. Eliminating the cap on wages subject to Social Security taxes would go a long way toward reducing the funding shortfall. It won’t be enough to solve the insolvency crisis on its own. The $23,760 Social Security bonus most retirees completely overlook › […]
Key Points Original Medicare does not put a cap on your out-of-pocket spending. If you want protection, a Medigap plan could help. Timely enrollment in Medigap could help you secure coverage that’s more affordable. The $23,760 Social Security bonus most retirees completely overlook › Turning 65 comes with a long Medicare to-do list. You’ll need […]
Key Points The average retirement account balance for people aged 45 to 54 is over $128,000 above the median balance. Having access to higher contribution limits after turning 50 years old can help boost retirement savings. Where you retire — and what you plan to do — can be huge factors in how much you […]
Key Points A 3.8% Social Security COLA would add roughly $79 to the average retirement benefit. The actual COLA could be higher or lower than this, depending on inflation over the next few months. The Social Security Administration will announce the official COLA on Oct. 14, 2026. The $23,760 Social Security bonus most retirees completely […]
Key Points A Roth conversion lets your money grow tax-free in a Roth IRA once it’s moved over. You won’t have to pay taxes on your withdrawals or worry about required minimum distributions. If you expect to give a lot of your savings to charity, a Roth conversion may not pay. The $23,760 Social Security […]
Perry Steinhandler is the Vice President of Steinhandler Wealth Advisors, and he's spent the last forty years turning his clients from strangers into family. By using conservative-money strategies focused on retirement planning and wealth preservation, Perry helps his clients create income streams to see them to and through their retirement years.
Perry has been trained to always look ahead and be mindful of the impact his actions might have far into the future of his clients and their families.
