If you were born between the 11th and the 20th of any month, and you qualify for retirement benefits, you’ll receive a $1,900 Social Security check on average tomorrow. But, before you get too excited, ensure you meet the specific requirements set by the Social Security Administration (SSA). For millions of American seniors, these monthly … Read more
Every month, millions of retirees depend on their Social Security checks to cover living expenses and enjoy their retirement. However, those who rely solely on this income often struggle to meet all their needs, especially towards the end of the month. Knowing how to maximize your benefits can be crucial for a more comfortable retirement. … Read more
In just one day, eligible retirees will receive their Social Security checks, with some seniors getting up to $4,873 to cover their living expenses. We all hope to secure the highest possible benefits in retirement, but qualifying for the maximum payment requires meeting specific criteria related to work history, average contributions, and full retirement age … Read more
This June, retired workers who claimed their benefits after May 1997 can expect two more Social Security payments, scheduled for June 18th and June 26th. Once these payments are made, the Social Security Administration (SSA) will resume payments starting on July 1st. However, some retirees will notice they receive one less check this month compared … Read more
Recently, numerous reports have circulated claiming a $600 increase in Social Security benefits this month. However, the Social Security Administration (SSA) has clarified that this information is false. The official cost-of-living adjustment (COLA) will not be released until October this year, with any new increases taking effect in January 2025. Therefore, any potential increase from … Read more
Great news for SSI recipients! The Supplemental Security Income (SSI) program has confirmed that another round of payments will be made to eligible individuals in less than 18 days. On Monday, July 1st, SSI recipients will receive a Social Security payment worth up to $943. These disability benefit payments are specifically for low-income seniors, disabled … 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
Around 72 million Social Security beneficiaries receive monthly payments from the Social Security Administration (SSA). While most of these beneficiaries are retired workers who have contributed to Social Security for at least 35 years, others include low-income seniors, disabled individuals, and children who qualify for Supplemental Security Income (SSI) benefits. According to the SSA’s April … Read more
Great news is on the horizon for Social Security beneficiaries! The Social Security Administration (SSA) and the federal government have announced a $200/month raise to Social Security, SSDI, SSI, and VA benefits starting June 2024. This increase aims to provide financial support to over 71 million low-income individuals in the U.S., helping to combat poverty … 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