If you work and collect Social Security prior to full retirement age (FRA), you’ll be subject to the earnings test. If your income exceeds a certain limit that changes from year to year, you risk having some of your benefits withheld.
In 2020, you could earn up to $18,240 without having it impact your benefits, assuming you hadn’t yet reached FRA. In 2021, that limit is increasing to $18,960. Once your income exceeds that point, you’ll have $1 in Social Security withheld for every $2 you earn. Furthermore, if you’ll be reaching FRA in 2021, that limit increases to $50,520 (up from $48,600 in 2020). From there, you’ll have $1 in Social Security withheld for every $3 you earn.
As always with Motley Fool articles, the last paragraph, “The $16,728 Social Security bonus most retirees completely overlook” is a lead in advertisement.
This photograph shows several F-102s in a taxi formation at Dillingham Field in MokulēʻIa. The 199th Fighter Squadron were in the sixh year of flying the Convair F-102 Delta Daggers. Flight operations out of Dillingham tested aircrews and maintenance in a bare base environment. Summer camps continued there and later expanded to the Pacific Missile Range Facility (PMRF) on Kaua‘i. This training ended in the early 1970s.
This photograph is a little fuzzy. It is a screen capture of a video sent to Retiree News by Tai “Mynah” Hong, a retired 199th Fighter Squadron pilot. Mynah said the video was converted from an old Super 8 home movie.
Retiree News currently cannot post the entire video to our website because of its size – 140 MB. We are working to find a server to post and link this video. More to come…
The Kūkā‘ilimoku is the official e-newsletter of the 154th Wing, Hawaii Air National Guard. The first issue came in September 1957 and continues as a monthly newsletter today.
Today we feature the November 1990 Kūkā‘ilimoku issue. This issue includes the following stories:
* HIANG ‘Ohana reestablished: familiar names
* CAMS News & Views: lots of familiar names
* Promotions: including Carlton Tajiri and Ramona Kam
* Sports News
Chances are, you aren’t seriously thinking about how to pay for long-term care when you are older.
Most people only think about it at two points in their lives: when their parents need it or when they start to get much older and realize they need to have a plan, said Carolyn McClanahan, a physician and certified financial planner at Life Planning Partners in Jacksonville, Florida.
Yet someone turning 65 years old today has almost a 70% chance of needing some type of long-term care services in their remaining years, according to the U.S. Department of Health and Human Services. Women need 3.7 years of care, while men need 2.2 years.
The average lifetime cost of formal long-term care is $172,000, according to PWC.
We all lead busy lives. Our children, significant others, parents, co-workers and many others place demands on our time, barely leaving us time to do the things that we want to do, much less those things that we should do.
I have spent many hours working with clients and their attorneys to construct estate planning documents that have been structured to meet a client’s needs at the time, but which are not later updated as circumstances change. I’ve also spent a significant amount of time creating estate plans in a hurry in the face of a major life event. Finally, I have assisted with a third variety of planning — plans that are proactively created, communicated to the prospective beneficiaries and periodically reviewed.
From the Frolic Hawaii website
Judging from the Facebook comments on a recent repost of Mari Taketa’s “What is it about saimin?”, it is safe to say that not liking saimin is very unpopular. Less popular than rail. Less popular than TMT. I don’t think I’ve ever seen such a one-sided reaction to such an honest and harmless opinion about food!
The reaction speaks to the fierce loyalty Hawaii residents have toward their unique version of Asian noodles in a bowl. Mari wondered if saimin as a dish is worthy of this loyalty, or is our loyalty a product of nostalgia and saimin’s hallowed history? A lot of people were upset by the question, but no one was answering it.
7,300 days. 175,200 hours. 10,512,000 minutes.
That is the amount of time you can expect to have in retirement, considering the average length of retirement is approximately 20 years, according to the Center for Retirement Research at Boston College.
How will you spend all of that newfound free time?
Without a sense of purpose, the risk of dissatisfaction increases, and what should be a meaningful time becomes an anxious or uninspiring one. The average retiree in Britain grew bored after just one year, according to a United Kingdom survey. And one-third of retirees eventually give up on retirement and return to the workforce, according to a 2016 Federal Reserve study.
The notion of retirement as a time of leisure is outdated. Most older adults want a similar level of engagement and meaning as in their working years. This is as it should be. From traveling the world to helping people in need, there are a variety of activities that can give you meaning and joy in retirement.
To get a leg up on a happy retirement, start in the years before leaving your job by exploring the interests you want to pursue later in life. You can even use those interests to create a more personalized financial plan. Then you’ll be fully prepared to hit the ground running (literally, if that’s your thing!).
Healthcare has never been more important than it is now. Hospital treatment is expensive, and the COVID-19 pandemic has increased the risk of needing emergency care — especially for seniors. And don’t think scammers aren’t paying attention to this.
Seniors are already a popular target among scammers as it is, and healthcare enrollment is giving cybercriminals a powerful tactic to use against them. Tap or click here to see a DOJ scam that’s also targeting seniors right now.
With open enrollment just around the corner, phone scammers are pretending to be government workers with information about healthcare plans. But if you give these callers your information, you could end up losing your savings and more. Here’s how you can spot the scammers.
Some good news for TRICARE beneficiaries facing increasing costs in TRICARE enrollment fees and premiums, next year: Your prescription drug costs will not change.
Under the fiscal 2018 National Defense Authorization Act, copayments for medications available at retail pharmacies and through the TRICARE mail-order system will not increase next year. Under the fee structure, 30-day prescriptions at TRICARE network pharmacies for generic drugs will remain at $13, and for brand names, $33.
From the Clearance Jobs website
The U.S. military is old and ever evolving, and because of that, ranks change with the times. Some are either no longer used, or used so rarely as to be extinct.
Here are a look at discontinued military ranks, what they were, and what replaced them.
National Parks, wildlife refuges and other federal lands will all be free for veterans and Gold Star family members to use starting Veterans Day, Interior Department officials announced today.
The change extends to veterans and Gold Star families the existing free admission policy already in play for active-duty troops and their families, as well as Guard and Reserve members. It waives both entrance and day use recreation fees for lands managed by the Department of the Interior nationwide.
If you’re a TRICARE Select Group A retiree, you may now set up monthly automatic payments for your new 2021 TRICARE Select enrollment fees. You need to take action if you want to maintain your TRICARE Select coverage in 2021. You don’t need to wait for TRICARE Open Season to begin to do this.
This change only affects Group A. If you or your sponsor’s initial enlistment or appointment occurred before January 1, 2018, you are in Group A. retirees and their family members enrolled in TRICARE Select or TRICARE Overseas Program (TOP) Select. You’re considered Group A if your initial enlistment or appointment or that of your uniformed services sponsor began before January 1, 2018.
This doesn’t affect you if you use TRICARE For Life, TRICARE Prime, TRICARE Reserve Select, TRICARE Retired Reserve, or TRICARE Young Adult.
Halloween is a holiday celebrated each year on October 31, and Halloween 2020 will occur on Saturday, October 31. The tradition originated with the ancient Celtic festival of Samhain, when people would light bonfires and wear costumes to ward off ghosts. In the eighth century, Pope Gregory III designated November 1 as a time to honor all saints. Soon, All Saints Day incorporated some of the traditions of Samhain. The evening before was known as All Hallows Eve, and later Halloween. Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Off the Hawaii Air National Guard Facebook page
If you know what a ‘Thrust Conversion Actuator’ is, and how to fix it on-the-spot, then you just might be a C-17 Engine Mechanic!
Aircraft Maintenance Airmen from the Hawaii Air National Guard and the 15th Wing work side-by-side on these total-force airframes to ensure the airlift mission is always operational.
Each engine can produce more than 40,000 pounds of thrust, enabling JBPH-H’s Globemaster III fleet to deliver precious cargo all over the world within a moment’s notice.
These aircraft have responded to all kinds of war-time scenarios, aeromedical evacuation missions and disaster-relief events, and it’s all thanks to the hard work of remarkable maintenance Airmen.
Retiree News 