The Supplemental Security Income (SSI) program is set to see some changes potentially on the horizon. According to predictions from The Seniors Citizen League, a Cost-of-Living Adjustment (COLA) of 2.66% might be in store for 2025. While these figures are speculative and dependent on future inflation rates, it’s intriguing to consider what these adjustments could … Read more
Are you a retiree who started collecting Social Security before May 1997? If so, you’re in for some good news. Your next Social Security payday is just around the corner. Mark your calendars for June 3, because that’s when you can expect a check worth $1,915 on average. Let’s cut into the details of who … Read more
With seven days left until the second direct Supplemental Security Income (SSI) payment of the month, recipients can soon expect their next financial boost. This payment is crucial for low-income seniors, disabled individuals, and children who rely on these benefits to cover their living expenses. Here’s a detailed look at what beneficiaries can anticipate and … Read more
The Supplemental Nutrition Assistance Program (SNAP) continues to provide critical support to low- and no-income households, helping them afford essential and nutritious food. If you are eligible for SNAP benefits, here’s what you need to know about the payment amounts and the upcoming schedule for June 2024. SNAP Benefit Amounts SNAP benefits vary depending on … Read more
Saving for retirement is crucial to ensure financial security in the later years of life. However, many Americans are entering retirement unprepared, relying solely on Social Security. This dependence is alarming, given that Social Security faces potential depletion by 2035. To address this issue, experts Alicia Munnell and Andrew Biggs have proposed a controversial plan: … Read more
The Social Security Administration (SSA) recently announced changes to the benefit payment schedule for June due to some payment dates falling on weekends or federal holidays. If you are a Social Security beneficiary, here is all the information you need about the upcoming changes and how they will affect your SSI, SSDI, and retirement benefit … Read more
Economic assistance continues in the United States, albeit not as extensively as during the pandemic. The federal government previously authorized several stimulus checks to help Americans cope with the financial impact of COVID-19. While these Economic Impact Payments (EIPs) have concluded, some states are still providing stimulus payments to help residents manage rising inflation and … Read more
Every year, the Social Security Administration (SSA) calculates the cost-of-living adjustment (COLA) to help beneficiaries keep up with inflation and maintain their purchasing power. This adjustment isn’t guaranteed annually, but it frequently occurs to ensure seniors and other pensioners can manage their costs. How COLA is Calculated COLA is based on data from the Consumer … Read more
Next week marks a significant date for seniors who qualify for Supplemental Security Income (SSI) benefits. The Social Security Administration (SSA) is set to distribute the final Social Security payment of over $1,400. This monthly benefit reaches approximately 72 million retirees, survivors, disabled individuals, and low-income seniors eligible for retirement, survivors, disability insurance (RSDI), and … Read more
Retirement is often seen as the ultimate reward after years of hard work—a time to relax without the constraints of an alarm clock or a set schedule. However, rushing into retirement and claiming Social Security benefits prematurely can lead to financial regrets. To help you make the most informed decision, we spoke with Chris Urban, … Read more