American millennials believe their retirement depends solely on personal savings and investment, but are unsure how they will finance and save for their retirement, a new study says.

The cost-of-living adjustment (COLA) will increase 3.6% for Social Security beneficiaries in 2012, affecting more than 60 million consumers, although an insurance trade group says most will not see the full COLA.

Congress should consider several steps, including increasing retirement age, to ensure Social Security’s solvency in the future, an actuary representing an actuarial association told Capitol Hill.

At the same time our federal government has claimed that Medicare’s financial condition has improved because of Obamacare, we are also being told by the trustees that the Medicare Part A Trust fund will go broke five years earlier than last year’s projection.

Possible changes to Medicare and Social Security, along with tax increases, have more than half those between the ages of 55 and 79 fearing whether they can afford their plans for retirement, according to LIMRA research.

WASHINGTON – With the ink barely dry on various 2012 federal budget proposals, the Maryland congressional delegation began working on shaping the final product this week.

Although Americans do not trust Social Security’s viability and believe they need to fund their retirement themselves, most struggle to understand how to save enough for the future, a survey says.

Mystery regarding the Social Security system and how long and if it will pay retirees benefits is nothing new. Now a book, promising to “expose the truth” about the Social Security trust fund, is shrouded in its own mystery.

The leader of the U.S. House of Representatives doesn’t want to trim Social Security benefits to ease the federal deficit.

Health care reform is now law. Perhaps it will be repealed by the next Congress, with the valuable and helpful provisions quickly “re-passed” into law, the harmful (meaning most of …  Read →