Applying for Social Security retirement benefits is a significant step toward securing your financial future. To be eligible, you must have worked at least ten years in jobs covered by the Social Security Administration (SSA), equivalent to 40 work credits. You can start filing for retirement benefits at 62, but it’s important to know that … Read more
The next round of disability benefits is just around the corner, with the Social Security Administration (SSA) set to send a new Social Security Disability Insurance (SSDI) payment on July 24 for eligible recipients. Here’s a comprehensive look at the upcoming payments and what recipients can expect. July 24 SSDI Payment To receive the SSDI … Read more
Seniors may experience a Social Security trend that hasn’t occurred in more than three decades. Each year, Social Security payments are adjusted based on the cost-of-living adjustment (COLA), which considers inflation impacts. Inflation affects seniors in various sectors, including housing, groceries, and healthcare. Notably, COLAs have been consistently high since 2022, reflecting the ongoing inflation … Read more
In 2024, the US Federal Government is set to distribute new stimulus checks of $550 and $2400 to low-income recipients. These checks aim to alleviate the financial strain caused by rising living costs due to inflation. Let’s cut into the details of these stimulus checks and what they mean for eligible Americans. Recipients The $550 … Read more
Are you a retiree, on disability (SSDI), or receiving SSI (Supplemental Security Income)? If so, you might be getting a payment within the next two weeks, provided you’re eligible. First up, there’s a payment scheduled for retirees and disability insurance recipients on July 24. To qualify, you must have been receiving benefits since before April … Read more
Did you know Social Security checks aren’t sent out all at once? The Social Security Administration (SSA) staggers payments to beneficiaries throughout the month. Why? It’s to manage the immense task of distributing benefits to over 60 million Americans. By staggering payments, the SSA can better handle any potential issues and ensure everyone gets their … Read more
Big changes are coming to Social Security retiree accounts this month, as the SSA has announced a significant modification in their online services. The main goal is to streamline the access process for beneficiaries while adhering to federal verification regulations. All clients will eventually need an account with one of two Credential Service Providers (CSP) … Read more
Thinking about retirement often takes a backseat when you’re starting your career. However, as retirement nears, many scramble to understand how to maximize their benefits. It might seem overwhelming, but planning early is crucial. The more you prepare, the better positioned you’ll be to enjoy your retirement without financial worries. In general, most Social Security … Read more
Millions of seniors depend on monthly Social Security benefits. While it’s not advisable to rely solely on Social Security for income, without it, many retirees would struggle to cover essential expenses such as housing, medication, and food. The Role of COLA A key feature of Social Security is the annual cost-of-living adjustment (COLA). COLA aims … Read more
Thousands of older Americans are worried about the future of Social Security, with discussions about new proposals, potential payment cuts, and a probable shortfall in funds. Recent news suggests significant changes for retirees, including a proposed new retirement age. Rachel Greszler, a senior research fellow at the Roe Institute, has introduced a proposal to raise … Read more