For many Americans, 65 has long been the golden age of retirement. However, the “full retirement age” (FRA) for Social Security benefits has already climbed beyond 65 and is set to rise again in 2025. FRA is the age at which workers are eligible to claim 100% of their Social Security benefits. As this age … Read more
The Social Security Fairness Act has reignited debate in Washington as it moves closer to a potential Senate vote. This bipartisan bill seeks to repeal two provisions—Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)—that currently reduce Social Security benefits for millions of Americans. While supporters emphasize fairness and justice for workers, critics voice concerns … Read more
Every year, the Cost-of-Living Adjustment (COLA) is applied to Social Security benefits, aiming to help recipients keep up with inflation. However, what many don’t realize is that COLA also impacts other government programs, such as the Supplemental Nutrition Assistance Program (SNAP). The 2025 COLA adjustment is set at 2.5%, but several issues remain with how … Read more
Claiming Social Security benefits is a major financial decision, and timing is everything. While it’s tempting to retire early, waiting until your full retirement age ensures you don’t lose out on the benefits you’ve worked so hard to earn. Over the decades, changes to the full retirement age have gradually increased the threshold from 65 … Read more
The Grant-in-Aid (GIA) program, managed by the South African Social Security Agency (SASSA), provides essential financial support to individuals who cannot earn a living due to mental or physical disabilities. Designed to assist those requiring full-time care, the GIA ensures that vulnerable members of society can meet their basic needs while being cared for in … Read more
As 2025 approaches, millions of Americans are evaluating how the new Cost of Living Adjustment (COLA) will shape their finances. Announced in October, the 2.5% COLA for 2025 is notably lower than the last four adjustments but signals positive economic shifts, including reduced inflation and economic stabilization after the pandemic chaos. For comparison, 2024’s COLA … Read more
New research from the Transamerica Center for Retirement Studies reveals that many Americans retire earlier than anticipated, often due to circumstances beyond their control. This trend has significant financial implications, leaving many individuals unprepared for a long and financially secure retirement. By knowing the reasons behind unexpected early retirement, we can better plan for the … Read more
With 2025 fast approaching, millions of Americans receiving Social Security benefits are anticipating the annual cost-of-living adjustment (COLA). Set at 2.5%, this adjustment will be applied beginning January 1st, offering a modest boost to payments. However, a few important details, including the impact of rising Medicare premiums, may temper the excitement for some beneficiaries. Social … Read more
Each year, Social Security beneficiaries eagerly await news about the Cost of Living Adjustment (COLA). For those on fixed incomes—where increases are tied to a set base amount rather than variable salary growth—any rise can offer relief, especially amidst lingering inflation and pandemic-related challenges. In 2024, inflation outpaced the COLA within the first half of … Read more
Excitement is brewing among millions of public sector retirees as a recent vote in the House of Representatives aims to repeal two controversial provisions, the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These measures, which have slashed Social Security benefits for retirees with public pensions, could soon be a thing of the … Read more