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July 2022 newsletter touches on recent Elder Law news

July 2022 newsletter touches on recent Elder Law news

Dear Clients and Referral Partners, This morning, we issued our July 2022 client e-newsletter. If you did not receive it by email, please see the below link to open it in full PDF form from our website. Articles in the July 2022 edition month cover the following...
Claiming Social Security benefits at age 70

Claiming Social Security benefits at age 70

If you are about to turn 70, congratulations on reaching a big milestone. And if you also have delayed claiming Social Security retirement benefits up till now, you are joining a select group – only 6.5 percent of Social Security recipients put off collecting their...
Rise in Social Security payments will be biggest in 39 years

Rise in Social Security payments will be biggest in 39 years

The year was 1983: The U.S. invaded Granada. A gallon of gas cost 96 cents. Michael Jackson’s ‘Thriller’ video premiered. That year was also the last time that Social Security recipients saw a cost-of-living increase steeper than the one just announced for 2022. This...
Social Security Fund Shortfall Predicted Year Earlier Due to Pandemic

Social Security Fund Shortfall Predicted Year Earlier Due to Pandemic

The Social Security trustees are projecting that due to the economic downturn caused by the pandemic the Social Security trust fund will be depleted in 2033 — one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will...
Are You Overestimating Your Social Security Benefits?

Are You Overestimating Your Social Security Benefits?

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement. Researchers from the University of Michigan studied the expectations of...