You can contribute to more than one IRA. It's possible to have a traditional IRA, one or more 401s and a Roth IRA or Roth 40You can contribute to as many as you want but the total you may contribute is limited to a maximum amount that is adjusted annually and the type of account..If the Social Security Guarantee Act is signed into law, all eligible recipients will receive benefit guarantee certificates from the Secretary of the Treasury that would require the payment of full benefits. Additionally, the bill will adopt a measure of inflation that would make annual COLAs more fair and accurate, allowing older Americans to better keep up with rising costs..On Wednesday, with a vote of 21-3, the Senate Finance Committee voted in favor of advancing the nomination of Sylvia Mathews Burwell as the next Secretary of the Department of Health and Human Services. If confirmed as Secretary, Burwell will oversee the Medicare, Medicaid, and Social Security programs, and she will also manage the continued implementation of the Affordable Care Act..What you can do: Members of Congress are more likely to re-think voting for legislation when they see a large number of seniors are adamantly opposed to cutting COLAs. Add your name to TSCL's Social Security Fairness Petition. Have your costs jumped this year? Send us an email telling us your story..The retirement pensions of most average Americans, however, have not received the same level of dedicated protection from our elected lawmakers over the years. In 1977, Congress enacted changes to the Social Security benefit formula that cut benefits for persons who first became eligible to retire just two years later. Because of flaws in the transition and unexpectedly high inflation during the period, benefit reductions were even greater than anticipated. Seniors born from 1917 through 1926, known as Notch Babies, receive lower benefits than other seniors with similar work and earnings records. According to studies for TSCL, Notch Babies' benefits are ,000 to ,000 per year lower, on average, than those of other retirees with similar work and earnings records..Sleep: Deep sleep helps the brain store and retain new facts and information. But the structural changes to our brain as we age interferes with the quality of our sleep. That in turn reduces our ability to store memories for the long term. To improve focus and memory, get better sleep. That's not always easy for people 65 and over, and there may be times when you need to speak to a doctor. The nonprofit Helpguide.org has tips on how to sleep better as we age..When it comes to strengthening Social Security's finances, Members of Congress only have two choices - to cut spending on benefits, or increase program revenues. Typically in the past, the focus has been on proposals that would cut benefits rather than raising revenues. Proponents of cuts argue that benefits must be cut because Social Security is insolvent as currently structured. They point to the fact that there are fewer workers to provide payroll tax revenues for swelling number of retirees..On Thursday, Senate lawmakers passed legislation to suspend the debt ceiling until next spring, fund the government through December 8th, and provide .25 billion in relief to victims of Hurricane Harvey. At the time of writing this week's legislative update, the House had not yet voted on the legislation, but it is expected to pass with bipartisan support by the end of Friday afternoon..Medicare costs often consume up to half of your Social Security benefit. In a recent TSCL survey, 48% of respondents said they spent 11% to 33% of their Social Security benefits on healthcare in 201Another 25% said they spent from 34% to 50% of their Social Security on healthcare.
