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Five “tweaks” to Social Security figures for 2019
There are no wholesale changes to the Social Security program for 2019. But, as Matthew Frankel of The Motley Fool writes, there are five modest adjustments that take effect on January 1, 2019 as follows: first, the cost of living adjustment increase is 2.8% for all beneficiaries; second, the maximum amount of wages subject to payroll taxes increases by $4,500 to $132,900; third, earning one Social Security credit will require $40 more in earnings to $1,360 (40 credits are required to qualify for benefits); fourth, if you receive or plan to receive Social Security before full retirement age, you can earn more money from a job without affecting your benefits; fifth, the maximum Social Security benefit will be $73 higher. For more details, read the full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
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