Let us say you work hard every day, carefully plan all of your spending, buy things that are as cheap as possible, and try to save as much of your monthly salary as you can. And when the end of the month comes around and you get your money, bam! You can see that a...
Exciting news for Americans: you could be eligible to receive up to $4,400 following a significant data breach settlement. The good news is that all you need is a bank statement to claim your cash. However, time is of the essence, so don’t delay! With only a few weeks remaining, eligible individuals must submit their claims promptly. This...
The Social Security Administration (SSA) has officially announced the list of changes that will take effect in January 2025. These changes are set to impact millions of Social Security recipients, from retirees to those with disabilities. Understanding these updates is crucial for anyone relying on Social Security benefits to manage their financial future. Here’s a...
As the new year approaches, the U.S. Social Security Administration is preparing to implement significant changes to the full retirement age (FRA), effective January 1, 2025. These changes aim to ensure the long-term sustainability of the Social Security system, which has been under increasing financial pressure due to longer life expectancies and shifting demographics. Changes...
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 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...