Strategies

Warning: The Windfall Elimination Provision Has Reduced Benefits for 2 Million Public Employees

The Windfall Elimination Provision has systematically reduced Social Security benefits for approximately 2 million public employees who spent their...

$14,800 Per Year Is What Federal Employees Lose by Not Maximizing TSP Match and Catch-Up Combined

Federal employees miss far more than $14,800 annually by undercontributing to their TSP—the exact amount depends on salary, but the loss is permanent.

$500 Average Monthly Social Security Reduction Caused by the Government Pension Offset

The Government Pension Offset (GPO) was a federal rule that reduced Social Security spousal and widow benefits—sometimes by hundreds of dollars...

Spousal Caregiving Opportunity Costs: What Most Americans Don’t Know Could Cost Them Thousands

Most Americans have no idea that becoming a spousal caregiver can cost them anywhere from $7,000 to well over $100,000 in lifetime earnings and...

She Left Her Part-Time Job to Care for Her Husband and Lost $18,000 in Annual Income

When you leave a job to care for your spouse, the financial consequence extends far beyond the immediate paycheck you're losing.

Fact Check: Does Medicare Pay Family Members to Care for a Spouse or Parent at Home?

No, Medicare does not pay family members to serve as caregivers for a spouse or parent at home.

New Study Found Caregiver Burnout Hospitalizations Have Cost Medicare $9.4 Billion Annually

Recent research examining the financial impact of caregiver burnout on the Medicare system reveals a sobering reality: the healthcare costs associated...

Warning: Family Caregivers Lose an Average of $303,000 in Lifetime Wages and Benefits

The financial cost of caregiving remains one of the most overlooked threats to retirement security in America.

$12,800 Average Annual Out-of-Pocket Cost for Retirees Who Act as a Primary Caregiver for a Spouse

When people imagine retirement, they typically envision relaxation and freedom from financial stress.

Warning: Student Loan Garnishment Can Reduce Social Security Checks by Up to 15% for Retirees

Yes, it's real: the federal government can garnish up to 15% of your Social Security benefits if you have unpaid federal student loans in...

$24,000 Average Credit Card Balance Held by Retirees Who Carry a Balance Month to Month

Retirees who carry credit card balances from month to month are holding an average debt of $24,000, according to recent financial data.

Senior Food Insecurity Crisis Explained in One Statistic That Will Shock You

Nearly one in nine American seniors aged 60 and older—approximately 7.4 million people—face food insecurity, according to the latest data from 2023-2024.

Fact Check: Does Receiving SNAP Benefits Affect Your Social Security Payment Amount?

No. Receiving SNAP benefits will not reduce the amount of your Social Security payment. The Social Security Administration officially confirms that SNAP...

Food Insecurity Among Retired Americans: What Most Americans Don’t Know Could Cost Them Thousands

Most Americans believe that if you have a pension or Social Security, you won't go hungry in retirement.

New Study Found Senior Food Insecurity Has Increased 18% Since 2021 Due to Inflation

Senior food insecurity has reached alarming levels in the years following 2021, with inflation serving as the primary culprit.

Warning: Only 42% of Income-Eligible Seniors Actually Enroll in SNAP Benefits They Are Owed

An estimated 60% of seniors who qualify for SNAP benefits—nearly 5 million low-income adults over age 60—never enroll in the program, leaving billions of...

At Least 5.2 Million Americans Over 60 Are Food Insecure According to 2024 Federal Data

At least 5.2 million Americans over 60 are struggling to afford food, according to the most recent federal data available.

$2,900 Average Annual Food Cost for Single Retirees Who Qualify for SNAP Benefits

The claim that single retirees who qualify for SNAP benefits spend an average of $2,900 annually on food cannot be verified through official USDA...

He Avoided Turning on His Heat to Save Money and Ended Up With a $6,800 Hospitalization Bill

Attempting to save money by avoiding heating in winter can seem like a reasonable cost-cutting measure, especially for retirees living on fixed incomes.

RMD Penalty Crisis Explained in One Statistic That Will Shock You

Six million retirees missed a $11,600 withdrawal and paid $1.7 billion in IRS penalties for it.

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