Social Security COLA 2023 benefits are rising 8.7% — here’s what that means for recipients: The cost-of-living adjustment for 2023 will be the largest increase for Social Security benefits in more than four decades.
The number of baby boomers and Generation X who plan to work past age 70—or forever—is stunning: Almost half of baby boomers and more than one-third of Generation X expect to work past age 70 or do not plan to retire at all, highlighting the need for backup plans in case life’s unexpected events get in the way of such goals.
Can I stop and restart Social Security benefits? Social Security benefits can have some flexibility in how you receive them, but the flexibility goes away after a while.
Also on MarketWatch:
Seniors are getting a $140-a-month Social Security raise — here’s why it may not be enough
Travel to beautiful places for less money, and live like a local: Why retirees should try house swapping
Even pessimists can be optimistic: How to be happier in retirement, according to science
How can I give my investment account to my noncitizen son?
Rich millennials say this is the best long-term investment
I joined the ‘Great Resignation’ a few months ago—here’s how it’s working out
Retirees are leaving work earlier than expected and living on less
Why don’t some people ever retire — even if they have plenty of money?
More in retirement news:
Eli Manning Enjoys Letting Personality Shine Through In Retirement. (Forbes)
A quarter of Americans are expecting to delay their retirement due to rising consumer costs, according to a new study (CNBC)
3 Vanguard ETFs That Could Help You Retire a Millionaire (Motley Fool)
Social Security Cost-of-Living Increase Could Strain the Program’s Solvency (the New York Times)
Despite economic volatility, retirement ‘super savers’ stick to priority, study finds (InsuranceNewNet)
Mark Cuban became a millionaire at age 32—here’s why he chose against retiring early (CNBC)
New Study Tackles One Of The Hard Problems Of Retirement Planning (Forbes)
Research and Insight:
Employers Are Feeling Employees’ Financial Pain, Enhancing Benefits (SHRM)
Millennials May Be Headed Towards a Rocky Retirement, Research Shows (Planadviser)
Financial Wellness Benefits Employees Want Most (Credit Union Times)
Retirement Means Sleeping More, Exercising Less: Study (HealthDay)
Perspectives from 4 Generations of Workers Preparing for Retirement (National Association of Plan Advisors)
To share with your family, friends and clients:
In retirement, make this your new ‘job’
Social Security’s ‘taxable maximum’ inches higher—but will it make a dent in the trust fund?
Opinion: Social Security’s COLA is no bonus
Another reason to love pickleball: The popular sport may strengthen your brain
Sticking with your Medicare plan this open enrollment season? You could pay a hefty price.
‘It’s a double whammy’: September inflation does not bode well for the holiday shopping season