Category archives: Social Security
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5 years ago
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A new report finds that almost no retirees are making financially optimal decisions about when to take Social Security and are losing out on more than $100,000 per household in the process. The average Social Security recipient would receive 9 percent more income in retirement if they made the finan... [read more]
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6 years ago
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A proposal tucked into the Social Security Administration’s (SSA) 2020 budget, released March 18, is raising fears that people applying for government disability benefits will soon have their posts on Facebook, Twitter and other social media networks scrutinized.
Since at least 2014, the SSA’... [read more]
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6 years ago
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Low-income seniors and people with disabilities may be missing out on a tax credit that could reduce their tax liability by up to $7,500 this tax season.
To qualify for the Senior Tax Credit for the Elderly and Disabled, individuals must either be above age 65 or retired early due to a qualif... [read more]
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6 years ago
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The number of older Americans with student loan debt – either theirs or someone else’s -- is growing. Sadly, learning how to deal with this debt is now a fact of life for many seniors heading into retirement.
According to a study by the Consumer Financial Protection Bureau, the number of olde... [read more]
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6 years ago
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With the aging population becoming increasingly tech savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help.
To access most of the online services, you need to create ... [read more]
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6 years ago
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Spouses who are turning full retirement age this year are the last group who can choose whether to take spousal benefits or to take benefits on their own record. The strategy, used by some couples to maximize their benefits, will not be available to people turning full retirement age after 2019.
... [read more]
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6 years ago
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Social Security payments are set to grow next year, although for some recipients the extra income will be slightly offset by an increase in Medicare premiums and deductibles.
Announced by the Social Security Administration (SSA) on October 11, 2018, and effective December 31, Social Security pay... [read more]
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6 years ago
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The Social Security Administration has announced a 2.8 percent increase in benefits in 2019, the largest increase since 2012. The change will put an additional $468 anually in the pocket of the average retired beneficiary.
Cost of living increases are tied to the consumer price index, and an... [read more]
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6 years ago
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For many families, Section 529 College Savings Plans are an excellent investment tool when saving money for their child’s educational expenses. But if the child obtains Supplemental Security Income (SSI) benefits, families should be cautious in using a Section 529 plan.
529 plans, named for a pro... [read more]
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6 years ago
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The federal government has begun mailing new Medicare cards to 59 million Americans. You should keep track of when your new card will arrive and contact Medicare if you don't receive it.
To prevent fraud and fight identity theft, the federal government is issuing new cards to all Medicare ben... [read more]
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6 years ago
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For most Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) beneficiaries, the Social Security Administration (SSA) issues monthly checks directly to the recipients. However, where the recipients are incapable of making their own financial decisions, the SSA sends the... [read more]
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6 years ago
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Medicare is extending its offer of relief from penalties for certain Medicare beneficiaries who enrolled in Medicare Part A and had coverage through the individual marketplace. Beneficiaries who qualify will be able to enroll in Medicare Part B without paying a penalty for late enrollment if they en... [read more]
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