The Social Security Administration (SSA) plays an essential role in supporting millions of Americans each month. Every month, the SSA sends out nearly 73 million payments to beneficiaries. This includes retired workers, survivors, people receiving Social Security Disability Insurance (SSDI), and those on Supplemental Security Income (SSI). The timing of these payments is based on...
Social Security is a crucial system that provides financial support to millions of Americans. For many, it is the main source of income during retirement. But in 2025, things might change for those relying on Social Security. The Social Security Administration (SSA) has been facing serious financial challenges, and it is expected that the system...
Retirement planning can be a confusing topic, especially with so many different sources offering information that may not always be accurate. Recently, many have come across claims that seniors aged 55 and older are entitled to $1,300 in monthly payments. But is this true? In this article, we’ll explore whether these claims are real or...
When a couple gets divorced, financial matters can become complex, especially when it comes to Social Security benefits. A common question arises: Does the wife also receive half of her ex-husband’s Social Security benefits after divorce? The answer is yes, under certain conditions. The Social Security Administration (SSA) allows an ex-spouse to receive benefits based...
Social Security beneficiaries are about to receive some good news. Starting in January 2025, Social Security payments will increase by 2.5%. This is known as a cost-of-living adjustment (COLA), which is designed to help beneficiaries keep up with the rising cost of living. While inflation has slowed down in recent years, the adjustment is still...
Social Security’s earliest claiming age, 62, is one of its most popular choices. It’s easy to see why. Claiming benefits early means you’ll receive more checks over time. However, starting early also reduces your monthly payment by as much as 30%. This trade-off is important to consider when deciding when to start your benefits. Let’s...
As retirees step into 2025, the focus is on the 2.5% cost-of-living adjustment (COLA) for Social Security benefits. This adjustment, the smallest in four years, reflects the decline in inflation during 2024. For retired workers, the average monthly benefit of $1,925 in 2024 will increase to approximately $1,974 in 2025, bringing the annual benefit to...
Millions of Social Security recipients are preparing to receive their final retirement payments for December. The last round of checks, which can be as high as $4,873, will be distributed on Tuesday, Dec. 24, just before the federal holiday on Christmas Day. The Social Security Administration (SSA) ensures timely distribution by adjusting its schedule when...
The Social Security Administration (SSA) has announced that Supplemental Security Income (SSI) payments for January 2025 will be sent out early. Eligible recipients can expect their payments, worth up to $943, to arrive in just eight days on December 31, 2024. This adjustment ensures that beneficiaries receive their funds on time, despite the New Year’s...
Concerns about the impact of a government shutdown on federal services and payments are common. Many Americans rely on Social Security for their retirement, survivor, or disability benefits, making the question of whether or not these payments will continue a big concern during a government shutdown. Will Social Security Payments Continue During a Government Shutdown?...