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
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
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
Millions of Social Security beneficiaries are eagerly awaiting an expected increase in their monthly benefits to help combat inflation pressures. While the official cost of living adjustment (COLA) for 2025 has not yet been announced, many estimates suggest it could exceed 3% due to rising inflation. This adjustment is crucial for retirees, survivors, disabled individuals, … Read more
The Social Security Administration (SSA) provides disability benefits to approximately 55 million people across the United States. Due to the upcoming Juneteenth National Independence Day, which is a federal holiday, there will be a slight change in the Social Security Disability Insurance (SSDI) payment schedule. If you qualify for SSDI, here’s what you need to … Read more
Where you live significantly influences your quality of life, especially if you rely on the fixed income provided by Social Security benefits. While the federal government taxes Social Security income for retirees who exceed a certain income level, most states do not independently tax these benefits. However, this is not the case nationwide, as 12 … Read more
The Social Security Administration (SSA) recently announced two significant changes to the June benefit payment schedule. If you are a Social Security beneficiary, it’s essential to be aware of these changes and understand how they will affect your monthly payment dates. The SSA is responsible for distributing monthly benefits to millions of Americans through retirement, … Read more
Retirement is often envisioned as a golden age where you can explore the world, cruise the seas, or settle in a new, idyllic location. For many Americans, this includes the possibility of living abroad. But can you move overseas and still collect Social Security benefits? The short answer is yes, you can retire abroad and … Read more
Contrary to popular belief, working and receiving Social Security benefits are not mutually exclusive. You can indeed hold down a job while still collecting various forms of Social Security benefits, such as retirement benefits, spousal benefits, and survivor benefits. Let’s cut into how this works and what you need to keep in mind. Annual Review … Read more
Social Security payments are one of the most uncertain certainties for retired Americans. While funding is often at risk with each new budget, there’s a glimmer of hope as experts begin to predict what Social Security payments might look like in fifteen years. Doing the Math Martha Shedden, a CFP and president of the National … Read more