Social Security
Are There Benefits to Inflation Beyond Just Social Security’s Increase?
The 8.7% cost of living adjustment coming in January 2023 is welcome news for seniors on Social Security, even if it only allows folks to just keep pace. But Selena Fragassi notes here that there are other benefits to higher…
Assessing Your Social Security Readiness
Anyone approaching the decision point on Social Security benefits needs to have a grasp on some of the key fundamentals. Failure to do so could result in decisions that, due to their irrevocability, could haunt you later in life. The…
How your COLA is applied
The Social Security Administration will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. The temptation to apply the 8.7 percent to your current payment is not how it works.…
You can increase your benefits with a few steps
You can begin your Social Security retirement benefits as early as age 62. If you delay taking your Social Security benefits to the age of 70, your benefit amount will increase. Since Social Security benefits are paid to you for…
We require a far more serious conversation about Social Security and Medicare
As both Social Security and Medicare programs are facing financial challenges in the near future, we–as Americans–deserve to have a constructive conversation about the future of Social Security and Medicare. Unfortunately, as we get closer to election day, we are…
How to find out what your 2023 Social Security benefit amount will be
Approximately 70 million Americans will see an 8.7 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. According to the Social Security Administration, on average, Social Security benefits will increase by more than $140…
Can you pass this Social Security quiz?
Social Security is the major source of income for most of the elderly, with nearly nine out of ten people aged 65 and older receiving a Social Security benefit as of June 30, 2022. Social Security benefits represent about 30…
Are you right to worry about Social Security?
The Old-Age and Survivors Insurance (OASI) Trust Fund, which pays retirement and survivors benefits, will be able to pay scheduled benefits on a timely basis until 2034. The Disability Insurance (DI) Trust Fund, which pays disability benefits, is no longer…
Have you reached this milestone?
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up…
Ask Rusty – How Do I Get My Social Security As Soon As Possible?
Dear Rusty: I am a few weeks away from my 61st birthday in November 2022. I was wondering how far in advance of my 62nd birthday next year should I file my Social Security benefits paperwork in order to get…