Social Security
SOAR Programs and Social Security
(Source – blog.ssa.gov) National Network for Youth (NN4Y) is dedicated to transforming systems so that no young person in America experiences homelessness. In the United States, roughly 4.2 million young people— one in 10 young adults ages 18 to 25…
With the new year comes some changes to Social Security
New Year, a new Social Security program; some parts of it anyway. Every year, changes happen to Social Security automatically, which helps recipients of this program keep up with the cost of living. Kailey Hagen reports on the three changes…
The three-legged stool
The newest data from Allianz finds that 22 percent of Americans currently working hope to retire in 2024. Unfortunately, these soon-to-be retirees will discover the much talked about “three-legged stool” no longer applies to most people. What is a “three-legged…
Is it possible to lose some of your Social Security?
As part of the “three-legged” stool of retirement planning, Social Security should play an equally important role along with pensions and retirement savings; however, for some people, Social Security is the only leg of that stool. So, it is essential…
Marriage and retirement
Most people think life after retirement is full of excitement and fun, endless golf games and pickleball. You can spend a lot of time with your spouse and cross things off your bucket list, but things can be otherwise if…
What you should know about Social Security
The Social Security Administration states more than 50 percent of seniors aged 65 and above rely on Social Security for more than half of their monthly income. Another report finds that 40 percent of older Americans rely only on Social…
Getting the max Social Security benefit isn’t easy, but it’s doable.
The Social Security Administration states the maximum monthly benefit is $4,873 for 2024. So, how do you achieve this amount; is it even achievable? If you follow a few steps during your working career, you may be able to receive…
How long do I have to pay FICA?
One question asked by Social Security recipients who are still working is whether they have to pay Social Security taxes. Yes, unless your wages exceed the wage cap for 2024. Maurie Backman explains who will be paying Social Security taxes…
Does your state tax Social Security benefits?
The Internal Revenue Service announced Jan. 29, 2024, as the official start date of the 2024 tax season when the agency will begin accepting and processing 2023 tax returns. Some retirees will not need to file if their total income…
The pros and cons of starting at 62
You can begin your Social Security retirement benefits early at 62, the most popular age. If you decide to start receiving benefits early, they are reduced, but if you wait until you reach your full retirement age, you are entitled…