Tucson, AZ (PRWEB) January 13, 2012
JD Mellberg Financial (JDM), a nationwide firm that specializes in financial planning for retirees and pre-retirees, today cautiously lauded the increased Social Security Administration’s (SSA) payouts and limited Medicare premium increases that began with the New Year.
According to the SSA Web site, retirees are now getting a 3.6 percent monthly cost of living adjustment (COLA) for 2012. This increase covers over 60 million people, including those receiving Social Security and those collecting Supplemental Security Income (SSI).
“As we all know, there hasn’t been a COLA increase since 2009,” said JDM President Joshua Mellberg. “Well, as the saying goes, every little bit counts and it’s been a long time in coming. Now that it has begun, I’m sure it will be a welcome addition to the basic budgets of millions of Americans.”
Although not as big as 2009’s 5.8 percent increase, it still falls within the 2.3-4.1 percent range of other past increases. In real dollars, the current average monthly SSA check will rise from $1,082 to $1121. This is accompanied by only a nominal increase with certain Medicare monthly premiums—which were much lower than expected—that is automatically taken out of the SSA checks.
“Still, two facts surround Social Security,” Mellberg continued. “One, most retired Americans rely on it as an important income stream for their monthly living expenses. And two, it is rarely enough to cover basic needs. Many retirees try to compensate by investing a good portion of their savings in the stock market. But really, does it make sense to gamble your hard-earned money in the stock market, especially since the market’s been in the muck for so long with no sign of recovery?”
"Consider this,” Mellberg finished, “there are retirement savings vehicles and strategies people can enact to help bolster their monthly income stream so that they won’t have to worry about how they’ll pay groceries or that unexpected medical bill. At JDM we hate to see people struggling through their retirement when they may not have to. As such we urge those who are to take the time, locate a financial advisor qualified in retirement planning, and speak to him or her about what they can do to create a lifelong, safe and guaranteed income stream that will cover the expanses that they currently can’t address.”
JD Mellberg Financial, a limited liability company, works to ensure a financially secure and enjoyable retirement for its clients through a guaranteed income-for- life. It achieves this with secure investment vehicles and the latest in tax-advantaged strategies that garner high earning power and minimal risk. For more on JD Mellberg, call 877-881-0943, visit http://www.annuitynational.com or write to JD Mellberg Financial; 3067 W. Ina Road; Tucson, Ariz.; 85741.