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This move could add another $70,000 to your lifetime Social Security benefit

When it comes to Social Security, most people focus on the amount of their monthly checks, but that’s only part of the story. If you want the most money possible, you need to maximize your lifetime benefit, which means taking into consideration how long you will receive those checks. Here’s a simple trick you can […]

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Inflation could drive Social Security’s cost-of-living adjustment in 2023

Tara Moore | Getty Images Retirees feeling the pinch of higher prices, rest assured: There could be a much bigger Social Security cost-of-living adjustment next year. A preliminary estimate from the Senior Citizens League, a nonpartisan seniors group, finds that the 2023 cost of living adjustment, or COLA, could reach 7.6%, based on the latest […]

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When to file an amended tax return – Macomb Daily

Q: My neighbor mentioned that I-bonds pay 7.12%. What are I-bonds? Why do these bonds pay over 7% when most banks pay close to zero? A: I-bonds are savings bonds guaranteed by the US government. The I stands for inflation-adjusted bonds. The current interest rate is 7.12% and resets every six months on May 1 […]

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How to Increase Social Security Retirement Benefits After You Apply

Thomas M. Barwick | Getty Images According to the Social Security Administration, Social Security benefits make up about 30% of the income of American seniors. For some beneficiaries, it may be 90% or more. Yet, according to social security expert Larry Kotlikoff, author of a new book, “Money Magic: An Economist’s Secrets to More Money, […]

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Don’t Apply for Social Security If You Can’t Answer These 4 Questions

Here’s a startling fact from the Social Security Administration (SSA): “Among older Social Security recipients, 37% of men and 42% of women receive 50% or more of their income from Social Security.” It also becomes more surprising: “…12% of men and 15% of women depend on Social Security for 90% or more of their income.” […]

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Live financial aid updates: Social Security recipients, child tax credit, IRS tax refund filing date…

Securities – A new report from the Fed shows that credit card debt has increased at the highest rate in 22 years in the 4th quarter of 2021 – IRS tax return arrears is estimated at nearly 24 million –13 states saw fewer workers quit their job in December, when only four saw an increase […]

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Missouri prosecutor declines to press charges against journalist for ‘hacker’ allegation

Relief as controversial charges dropped, tempered by fears of chilling effect The Missouri prosecutor has decided not to press charges against a journalist charged with illegal hacking for disclosing security flaws on a website run by the state government. St. Louis Post-Dispatch reporter Josh Renaud expressed “relief” at the news, but said allegations made against […]