For many retirees, Social Security benefits are a crucial part of their income. Since these benefits are based on your lifetime earnings and contributions to the program, increasing them beyond the annual Cost of Living Adjustments can be challenging. However, patience can significantly impact your benefit amount. Deciding when to claim your benefits is a … Read more
Many people think the Social Security Administration (SSA) schedule is a puzzle that only a few can solve. This belief likely started when benefits checks were mailed, causing recipients to wait indefinitely due to various local conditions like snowstorms or postal delays. Even with most people opting for direct deposit nowadays, the SSA’s schedule can … Read more
Did you know there’s a strategy that could boost your Social Security benefits by over 24% in just three years? On average, retired workers receive around $1,900 per month, which totals about $22,980 annually. While this helps cover some expenses, it’s often not enough for a comfortable retirement. But, there’s a way to increase your … Read more
The latest Social Security Trustees Report has sparked a renewed sense of urgency about the future of Social Security. According to the report, the program might not exist in its current form by 2035, urging Americans to act now. While Congress is working on measures to address the funding issues, it’s clear that we need … Read more
Social Security payments in 2024 have been a hot topic since the start of the year. With a Cost-of-Living Adjustment (COLA) of 3.2%, many were hopeful about economic improvements. However, compared to the 8.7% adjustment in 2023, some were dissatisfied, especially when inflation outpaced the COLA in March. In 2023, the COLA was high due … Read more
In August, recipients of the Supplemental Security Income (SSI) program will be delighted to find a double SSI payment in their accounts. If you’re eligible for these monthly benefits, mark your calendar for August 1st, when you could receive up to $2,800. This double payment occurs because the first of September falls on a weekend, … Read more
While federal stimulus checks have ended, several states continue to provide direct payments to help residents tackle ongoing economic challenges and inflation. These rebates often promote sustainable energy choices, like purchasing electric vehicles or implementing clean energy solutions at home. So, which states still offer payments that Americans should look out for? Check for Unclaimed … Read more
With economic uncertainties continuing to loom large, discussions about the Cost of Living Adjustments (COLA) for 2025 are heating up. Comparisons with the notable 8.7% increase in 2023 have fueled speculation about next year’s adjustments. Economists, lawmakers, nonprofits, and other experts are keen on predicting the next COLA figure while striving to stabilize the economy, … Read more
In response to the severe economic impact of the COVID-19 pandemic, the federal government issued multiple rounds of stimulus checks to help Americans facing financial hardships. Although a fourth round of federal stimulus checks is not forthcoming, Californians can look forward to a new $1,200 stimulus check, known as the Middle-Class Tax Refund (MCTR). Let’s … Read more
Navigating the Social Security system can be tricky, especially when there are changes to payment dates. The Social Security Administration (SSA) ensures that retirees, disabled individuals, and those with blindness receive their benefits on time, but adjustments are sometimes necessary. Here’s what you need to know about the new payment dates for June 2024, including … Read more