It’s easy to take Social Security for granted when retirement is years away, but with 94% of the U.S. workforce covered by Social Security,* it’s likely that this program will play a role in your financial future, perhaps even sooner than you think. Here are some facts and statistics from the Social Security Administration that […]
For many retirees and their families, Social Security provides a dependable source of income. In fact, for the majority of retirees, Social Security accounts for at least half of their income (Source: Fast Facts & Figures About Social Security, 2013). However, more of that income is being spent on health-related costs each year, leaving less […]
Every year, the Trustees of the Social Security and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. This year’s reports, released on May 31, 2013, show that both programs face urgent financial challenges that should be addressed as soon as possible.
New Medicare Contribution Tax Applies to Unearned Income of High-Income Individuals in 2013 New Medicare Contribution Tax Applies to Unearned Income of High-Income Individuals in 2013