Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020.
The 1.6 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 63 million Social Security beneficiaries in January 2020. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2019. (Note: some people receive both Social Security and SSI benefits)
Read more about the Social Security Cost-of-Living adjustment for 2020.
The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $137,700.
The earnings limit for workers who are younger than “full” retirement age (age 66 for people born in 1943 through 1954) will increase to $18,240. (We deduct $1 from benefits for each $2 earned over $18,240.)
The earnings limit for people turning 66 in 2020 will increase to $48,600. (We deduct $1 from benefits for each $3 earned over $48,600 until the month the worker turns age 66.)
There is no limit on earnings for workers who are “full” retirement age or older for the entire year.
If you have the knowledge, time and desire you absolutely should have a self directed portfolio. The savings in fees alone will more than justify the added commitment required.
In my last article I discussed why every self-directed investor needed a portfolio business plan. As we age, the plan needs to age with us. Many of us have family disinterested in being responsible for active portfolio management. Presented is the simple passive management that can serve my wife and family. My last […]
Click here to view original post at One Thing Every Self-Directed Investor Must Do – Part Two
Summary When the market corrects, buying opportunities arise. Three formidable low-risk buying techniques: the undercut & rally, volume dry-up, and Wyckoff retests. Taking profits when […]
Click here to view original post at seekingalpha.com