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Category Archives: Social Security

Managing a Loved One’s Social Security Benefits

When you are managing the finances for a parent who receives Social Security benefits, you may need to become her “Representative Payee.” Social Security does not recognize guardianships, conservatorships or powers of attorneys. If you handle your family member’s money with one of these documents and you need to manage her Social Security benefits, you […]

Navigating the Unfathomable Complexities of Medicare

More than 95 percent of Americans aged 65 and older depend on Medicare for their health insurance coverage. With over 55 million people utilizing Medicare, you would think it would be simple to navigate. But, it is not. “There can be little about Medicare that is automatic or clear or, especially in the midst of […]

Should You Automate Your Parents’ Bill Paying?

Handwriting checks is time consuming. Many of us no longer write checks to pay our own bills. If you are helping a parent or an older loved-one with bill paying, he or she may be resistant to newer methods. Paper checks are familiar to many seniors and make them feel safe. Should you transition your […]

Social Security: Not Your Private Retirement Account

Many people think, when they pay Social Security taxes, the government holds their money in a personal retirement account for them. This is not so. Social Security is a “pay-as-you-go” social insurance program. Payroll taxes paid by today’s workers and their employers are used to pay the people currently receiving benefits. When today’s workers retire, […]