Social Security
Be aware of these changes to Social Security
There are changes coming to Social Security in 2023. Every year, Social Security undergoes some minor changes, and depending on your situation, they can be either positive or not. Even though you are not receiving Social Security benefits, you should…
Social Security benefits for children
Within a family, a child can receive up to half of the parent’s full retirement or disability benefits. If a child receives survivor benefits, they can get up to 75 percent of the deceased parent’s basic Social Security benefit. There…
When can I see my cost of living adjustment for 2023?
Do you want to know how much your Social Security benefit will be next year in December? You can; if you did this one step before November 15th; if not, you will need to wait for Social Security to mail…
Social Security retirement earnings test
The current economic conditions have many retirees thinking about returning to the workforce. First, you can get Social Security retirement or survivor benefits and work. However, if you’re younger than full retirement age and earn more than a specific dollar…
How to achieve the maximum benefit amount
The maximum monthly Social Security check in 2023 will be $4,555 or $54,660 year. So, what do you need to do to receive the maximum Social Security benefit amount? There are three steps pre-retirees need to take to claim the…
How Are Social Security Benefits Taxed?
More than half of the 65 million Social Security recipients pay taxes on their benefits. The amount of taxes you will pay depends on your income, including retirement, survivor, and disability benefits, and filing status. Kemberley Washington and Kim Porter…
The real price tag to claiming Social Security too early
New research from economists at Boston University and the Federal Reserve Bank of Atlanta found many retirees are making a strategic mistake that can cost them tens of thousands of dollars in lifetime benefits by claiming their Social Security benefits…
The Social Security Administration employs an unusual tactic
Last week the Social Security Deputy Commissioner for Communications, Jeff Nesbit, wrote: “Congress provided us with $400 million, which provides enough funding to cover our fixed cost increases only through December, overtime at FY 2022 levels, and continuous hiring at…
The Social Security Expansion Act
The Social Security Expansion Act (H.R. 8005) was introduced on June 9th by U.S. Rep Peter DeFazio (D-Ore). The purpose of this bill is to enhance Social Security benefits and ensure the long-term solvency of the Social Security program. Among…
Social Security, by itself, won’t be enough
The Social Security Administration states 21 percent of married couples and 45 percent of single persons rely on Social Security for 90 percent or more of their retirement income. Based on recent polls conducted by several leading financial organizations found…