Planning for retirement is something everyone needs to think about, regardless of how much money they make. For high-income individuals, retirement planning might seem easier, but it’s just as important for people with lower incomes to think ahead. Proper planning helps you get the most out of Social Security and ensures a comfortable post-retirement life....
The Social Security Administration (SSA) has announced an important change that could affect your Social Security or retirement payments. Starting in December, beneficiaries who haven’t completed a simple update to their accounts might face interruptions in their payments. The government’s new rule requires that all beneficiaries move their accounts to the Login.gov platform. If this...
A government shutdown may soon be a reality, as the House recently rejected a spending bill supported by President-elect Donald Trump. With current government funding set to expire at midnight, the pressure is on. If a new spending bill isn’t passed, a shutdown could take place, causing several federal agencies to halt operations and leaving...
The Social Security Number (SSN) is an important part of life in the United States. It’s used to track earnings, determine eligibility for benefits, and serve as an ID for various purposes. Because of its significance, it’s essential to keep your Social Security Card in a safe place and avoid sharing it unnecessarily. However, sometimes...
The Cost of Living Adjustment (COLA) is an annual adjustment made to Social Security payments in the United States to help seniors keep up with inflation. This adjustment is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) during the third quarter of the year. Since inflation rates change...
Christmas is almost here, and while it’s a season for joy and relaxation, some responsibilities, like Social Security payments, don’t take a break. The Social Security Administration (SSA) has made adjustments this December to ensure payments are processed smoothly, even as their offices close for key holidays. The SSA has confirmed that all payments will...
Social Security is a vital part of retirement planning. Many people think retirement starts at 65, but that’s not always the case. You can start claiming Social Security benefits as early as 62, though the checks will be smaller. To get the maximum benefit, you need to wait until your “full retirement age.” For those...
Planning for retirement involves understanding how your savings and Social Security benefits will sustain you. The longevity of $250,000 in savings, when combined with Social Security income, varies significantly across the United States due to differences in cost of living, taxation, and healthcare expenses. This article examines how far $250,000 in savings plus Social Security...
Millions of people who receive Supplemental Security Income (SSI) benefits are preparing for major changes to the payment schedule in 2025. These changes are part of efforts to improve the financial support for those who depend on SSI, and understanding these changes is important for all recipients. One of the most anticipated changes is a...
DETROIT – Have you received a text saying you have an unpaid parking fee in Detroit? If so, don’t panic. The city of Detroit has warned that such messages are part of an ongoing scam targeting drivers. The city’s warning, issued on Thursday, tells residents that text messages about unpaid parking fees are not legitimate....