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Senior Citizens League pushes for More Effective COLA Process
It hasn’t really changed since cost-of-living adjustments (COLA) became a reality nearly 50 years ago, and the projected 2024 announcement was again based on use of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), a statistic that…
More on Social Security COLA Implications and Consequences
Now that the excitement of Social Security’s 2024 cost-of-living adjustment (COLA) announcement is waning, the smoke is clearing on how the process works–or doesn’t–and what the tax implications are for beneficiaries in 2024. First, a post by The Motley Fool’s…
Qualifying for Social Security – 2024 Requirements
Credits are the “building blocks” that Social Security uses to find out whether you have the minimum amount of covered work to qualify for each type of Social Security benefit (retirement, disability, or survivor) based on your own work record.…
Pros and Cons of Working in Retirement
There are many reasons why folks drawing Social Security benefits continue to work. Some relate to financial necessity, some are driven by the need to stay socially connected, and others simply reflect the curiosity of exploring job opportunities and work…
A Look at Some of the 2024 Social Security Limit Changes
Potentially lost in the excitement of the 2024 COLA announcement, there are a number of limit changes ahead for Social Security participants next year. For example, there’s a higher taxable maximum for earners, along with a higher amount those filing…
Social Security Fundamentals for Those Aging In
As we’ve said many times in posts on this site, Social Security is quite complex, especially for those just beginning to take a look at how and when they should claim their earned benefits. For example, there’s the issue of…
2024 COLA: Don’t forget about Medicare premiums!
The 2024 Social Security cost-of-living adjustment (COLA) announced last week has garnered quite a bit of attention in the media, both positively (it will help beneficiaries recover some of the ground lost to inflation) and negatively (the 3.2% bump is…
Want to know your new benefit amount before your notice arrives?
(Special Notice from Social Security Administration) Starting in early December, you will be able to securely view and save your Social Security COLA notice online via the Message Center inside my Social Security. Make sure you are signed up for notifications…
4 Things to Know About Social Security Before Retirement
James Brumley lists four important things to understand about Social Security, first and foremost being it will not be a huge sum of money, as the program only replaces around 40% of pre-retirement income. The other items are these: Some…
Beware that Social Security Increase
That monthly increase coming in January could have consequences. Lorie Konish explains here that over 71 million Americans will see a 3.2% increase to their Social Security and Supplemental Security Income benefits in 2024, as announced Thursday by the Social…