Latest News
New Social Security Bill on COLA, WEP, and more
Rep. John Larson (D-CT) announced he will introduce Social Security 2100: A Sacred Trust this week on the heels of last week’s news that the Cost-of-Living Adjustment (COLA) will be 5.9% for 2022, the highest increase in 40 years. The bill would do a number of…
The expected $92 average “raise” is less than many will actually keep
Seniors were pleased to hear a cost of living adjustment (COLA) of 5.9% is on its way effective January 1st. But the largest increase in 40 years is due to rampant inflation. The bump up to someone earning the average benefit…
5 Ways to Score a Higher Social Security Paycheck
Christy Bieber points out that savings and income from Social Security will make up most people’s two pillars in retirement. She suggests five things one can do to maximize Social Security income. 1. Climb the career ladder, as 35 years are…
The messy math of Social Security spousal benefits
Jim Blankenship’s piece here reminds readers that Social Security goes beyond just what people have earned over their lifetime of paid employment, especially when it comes to married couples. Quite often there is a significant difference in the lifetime earnings records for two married people. …
Are You on Track for the Max Social Security Benefit?
The maximum Social Security benefit is currently $3,895 per month which equates to almost $47,000 annually, and that’s not including any spousal or family benefits their relatives qualify for. That would make for a comfortable retirement for nearly all who could…
Will Social Security recipients get a 4th stimulus check?
There has always been a whisper through the summer and now it is getting louder that there might be a fourth stimulus, perhaps even just for seniors. The idea of another $1,400 being sent to seniors is being advocated by…
What happens if you don’t work 35 years for Social Security?
This brief piece by Oli Povey has a number of links where folks can click to calculate their benefits. In short, you only need 10 years of work to be eligible to receive Social Security benefits. But, your benefit is based…
How to Beat the Average Monthly Social Security Benefit
Did you know the average Social Security benefit is $1,559 per month? Selena Maranjian notes no one has to settle for that amount though. She suggests strategies for increasing one’s monthly benefit. Key to this is working longer and/or delaying benefits,…
What Do Most People Actually Earn From Social Security?
James Brumley is out with a great piece here that explains and shows graphically what people earn from Social Security each month. The piece is based around the fact that the average is about $1,559 per month. As he notes,…
What It Takes to Receive Social Security’s Max Monthly Benefit?
Who wouldn’t want $3,895 per month in Social Security benefits? That’s the maximum under current law for 2021. But how does one get that amount? Josephine Nesbit’s piece here notes that over 65 million Americans receive Social Security benefits, and…