A potential increase in Social Security benefits would be a welcome change for the nearly 70 million Americans who rely on these payments for their monthly expenses. For many beneficiaries, Social Security is a financial lifeline, covering at least 50% of their living costs. A recent survey by the National Academy of Social Insurance found … Read more
Social Security is back in the spotlight, with growing concerns about possible changes. A recent study funded by AARP and conducted by the National Academy of Social Insurance (NASI) found that many Americans—across political lines—support increasing Social Security benefits for two specific groups: caregivers and older workers in physically demanding jobs. It’s not often that … Read more
Tens of millions of Americans rely on Social Security benefits as a key source of retirement income. With the average retired worker receiving around $1,975 per month, Social Security plays a crucial role in financial security. More importantly, it is one of the few income sources that is inflation-protected, thanks to the Cost-of-Living Adjustment (COLA). … Read more
The Social Security Administration (SSA) provides financial support through various programs like retirement benefits, Disability Insurance (SSDI), and Supplemental Security Income (SSI). However, there are instances where Social Security payments may be withheld or garnished. While these benefits are generally protected from creditors, certain legal and financial obligations can lead to deductions. Knowing these reasons … Read more
The U.S. government is set to provide up to $2,400 in federal benefits to eligible workers starting in February 2025. These benefits are designed to support low- and moderate-income individuals and families through tax credits and financial assistance programs. Knowing eligibility, payment schedules, and how to claim these benefits can help you maximize your refund … Read more
Millions of retirees depend on Social Security payments for financial stability in retirement. If you’re 62 or older, you may be eligible for the upcoming $1,976 Social Security payment set to be distributed in just seven days. Knowing your eligibility, payment schedule, and ways to maximize your benefits is crucial to securing a comfortable retirement. … Read more
Donald Trump’s second term as President of the United States has introduced several financial measures aimed at improving government efficiency and safeguarding taxpayer funds. One of the key initiatives under his administration was an order to temporarily freeze federal grants and loans, a move designed to curb unnecessary spending and ensure better financial management. Federal … Read more
The 2025 Social Security and Supplemental Security Income (SSI) payment cycle has begun with a 2.5% increase in benefits. This adjustment, tied to the annual Cost-of-Living Adjustment (COLA), affects over 72.5 million Americans and offers financial relief as inflation moderates. However, beneficiaries must stay alert for important updates, including a new requirement to migrate their … Read more
Reporting your income to the Social Security Administration (SSA) is critical to ensuring that you continue to qualify for Supplemental Security Income (SSI). This program provides essential financial support to those with low income who are blind, disabled, or aged 65 and older. Accurate income reporting not only helps the SSA allocate benefits fairly but … Read more
Social Security’s maximum monthly benefit is set to hit an all-time high of $5,108 in 2025, marking the first time retirees can collect more than $5,000 per month. But here’s the catch: only a small percentage of retirees will qualify for this amount. Want to know if it’s possible for you? Achieving the maximum benefit … Read more