Social Security plays a key role in most retirees’ budgets. For six out of ten retirees, these checks are a major income source, according to an annual Gallup survey. However, while people expect changes every year, like cost-of-living adjustments (COLAs) or earnings limits, some Social Security rules remain unchanged. These unchanging facts might surprise you,...
Are you planning to retire in 2025? Social Security benefits are essential for many retirees, and there are a few important updates you should know about, including changes to the full retirement age and a cost-of-living adjustment (COLA). Let’s break it all down in simple terms so you can plan wisely. 1. Social Security Benefits...
The Social Security Fairness Act, a bill aimed at expanding Social Security benefits for millions of Americans, is closer than ever to becoming law. Last week, Senate Majority Leader Chuck Schumer initiated a key procedural step, giving new hope to public workers like teachers, firefighters, and police officers who have long been affected by outdated...
For retirees, Social Security is often a financial lifeline. Many rely on it to cover essential expenses during their golden years. While the average Social Security check is helpful, did you know that a few people can receive an extraordinary monthly benefit of $5,108 in 2025? Achieving this maximum payout, however, isn’t easy. It requires...
The Social Security Administration (SSA) has announced that Supplemental Security Income (SSI) payments for January 2025 will be issued on December 31, 2024. This early payment, worth up to $943 for individual recipients, is being delivered ahead of schedule because January 1 is a federal holiday. This ensures that beneficiaries have access to their funds...
If you’re over 67, there’s good news coming your way. Starting in January 2025, Social Security recipients will see an increase in their monthly checks. The Social Security Administration (SSA) has announced a 2.5% cost-of-living adjustment (COLA), which is designed to help Americans keep up with inflation. This adjustment will benefit retirees, people receiving Supplemental...
Millions of people in the US rely on Social Security to help cover their living expenses during retirement. These payments are critical for many retirees, and depending on the person’s work history and earnings, they can receive up to $4,800 a month. For individuals who receive benefits through the Supplemental Security Income (SSI) program or...
The year 2025 will bring a welcome change for many older Americans as Social Security recipients will see an increase in their monthly payments, starting in January. This change comes thanks to the Cost-of-Living Adjustment (COLA) increase, which is designed to help keep up with inflation. While December will not feature the COLA, those 65...
The economic difficulties caused by the pandemic have led to new financial help programs across the United States. These programs are designed to support families in need and improve their financial stability. In some regions, old programs have been extended, while new ones have been launched to help people manage their finances better. One of...
The Social Security Administration (SSA) follows a specific calendar to distribute payments to retirees in the United States. While this system is designed to ensure that payments are processed smoothly, it also means that some retirees will not receive any further payments until 2025. This situation affects a particular group of Social Security beneficiaries. For...