Beacon Financial Advisors - Kristine McKinley - Fee only financial planning - Lee's Summit, Kansas City, Blue Springs, Independence » social security retirement benefits increased in 2009 http://www.beacon-advisor.com Fee only financial planner serving greater Kansas City area, including Lee's Summit, Blue Springs Fri, 20 Aug 2010 03:13:32 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Social Security Benefits Increase 5.8% for 2009 http://www.beacon-advisor.com/2009/01/social-security-benefits-increase-58-for-2009/ http://www.beacon-advisor.com/2009/01/social-security-benefits-increase-58-for-2009/#comments Mon, 12 Jan 2009 08:01:59 +0000 Kristine McKinley http://www.beacon-advisor.com/?p=244 Finally some good news for retirees… Social Security benefits are being increased 5.8% for 2009.  This is the largest increase in more than 25 years!

This increase will boost the average monthly Social Security retirement check from $1,090 to $1,153.

Even more good news… for the first time since 2000, Medicare premiums will not go up in 2009.  Currently the Medicare Part B premium is $96.40 per month.

This is good news for Seniors who have seen their portfolios plunge over the last 15 months.  If possible, you should use this increase to reduce the amount you are withdrawing from your portfolio, to give it more time to recover recent losses.

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