The amount you receive as a Social Security benefit depends a lot on when you decide to start collecting it. It’s a key decision because starting early at age 62 can lower your monthly payout by hundreds of dollars. For those born in 1960 or later, the full retirement age is 67. At this age,...
The Social Security Fairness Act, which is gaining attention in Congress, seeks to repeal two controversial provisions in Social Security: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). While it sounds like a positive change on the surface, many financial experts and policymakers believe it could lead to unintended financial consequences. The...
Social Security Disability Insurance (SSDI) recipients can expect their checks to arrive soon. With only two rounds of payments left for 2024, those who haven’t received their checks yet should be getting them shortly. Your payment date depends on a few important factors. If you’re unsure when your payment is due, don’t worry—we’ve broken everything...
If you’re married or divorced and relying on Social Security, 2025 is bringing important updates you can’t ignore. From a slight Cost-of-Living Adjustment (COLA) to increased Medicare premiums and updated earnings limits, these changes may affect how much you receive each month. Here’s a clear breakdown of what you need to know. 1. A Smaller...
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step, giving new hope to public workers like teachers, firefighters, and police officers who have long been affected by outdated...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...