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Social Security

Nearly two-thirds of seniors are unhappy with Social Security checks

HECM, HWmember, Retirement, Reverse, Senior Citizens League, Social Security /

Nearly two-thirds of retirees are dissatisfied with Social Security benefits, according to a new survey conducted by The Senior Citizens League (TSCL). The average monthly Social Security check reached north of $2,000 this year, according to the survey, with just 10% of the 1,920 respondents saying they were satisfied with that amount. Roughly 63% reported […]

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Most Americans retire without a savings withdrawal plan

HWmember, Inflation, Retirement, Reverse, Social Security /

Almost two-thirds of Americans say they worry more about running out of money in retirement than about dying — and for many, that fear may become a reality. According to a survey from retirement technology firm IRALogix, about half of America’s retirees don’t take any systematic approach to withdrawing their many billions of dollars in

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Are seniors getting reduced Social Security or a tax break?

HWmember, Retirement, Reverse, Social Security, Social Security Administration, Tax, Trump administration /

Up to 2 million Americans could see their Social Security payments reduced by 50% in late July as the Social Security Administration (SSA) is cutting payments to recoup the billions of dollars it overpaid to some Americans in recent years. In April, the SSA announced that it would begin recovering about $72 billion in improper

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IRS stipulation could have consequences for seniors in a declining stock market

HWmember, Internal Revenue Service, New York Times, Retirement, Reverse, Social Security, Stock Market, Tax /

Growing fears of a retirement crisis in the U.S. are no secret as Americans face a future that potentially includes fewer Social Security benefits. But the uncertainty of Social Security is not the only thing that seniors should consider as they seek to safeguard their financial well-being. Over the weekend, The New York Times detailed

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As consumer sentiment remains low, is the ‘silver tsunami’ keeping the economy humming?

Bloomberg, Consumer confidence, Global Economy, HWmember, Retirement, Reverse, Social Security /

Depending on where you look for economic news, you may come away with your head spinning. While consumer sentiment surveys are down — with recent changes tied to trade policy announcements with China — the U.S. economy has remained in mostly resilient territory due to consumer spending. But why is there an apparent disconnect between

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Social Security sees ‘dramatic’ spike of 276,000 applications

HWmember, New York Times, Retirement, Reverse, Social Security, Social Security Administration, Urban Institute /

Social Security benefits are often a key for older Americans as they seek to determine how much money they will be able to live on in retirement. But the program has been a source of stress in the federal government for years, exacerbated by the unwillingness of lawmakers to make any major changes to the

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