There will be an average monthly benefit for all Social Security recipients in 2022 of $1,657 due to the cost of living adjustment (COLA). When a single average is used to represent the entire population, there is a great deal of nuance that is missing. … Read more
Social Security retirement benefits may or may not be available to today’s young workers when they reach retirement age. The Social Security trust fund will run out of money by 2034 because it is currently spending more than it is collecting. Due to the fact … Read more
People who are preparing for retirement in the United States should, of course, weigh their options before making a final decision. Delaying a claim could result in higher monthly payments, on the other hand. It is common knowledge in the Sun that delaying your application … Read more
As newlyweds, my parents shared a house with a couple with two children who lived across the street. Despite the fact that my parents didn’t know the other couple, they often ran into each other while picking up their newspapers or checking their mail. The … Read more
Fraudsters are always looking for new ways to exploit your fears in order to steal your money and personal information. Understanding and ignoring suspicious phone calls and emails are the most effective defenses against scammers. Posing as federal agents or other members of law enforcement … Read more
To alleviate the effects of the disease, the federal government has made three consecutive stimulus payments to a wide range of American citizens. In response to rising unemployment and rising prices, the government has offered financial assistance to those in need since the beginning of … Read more
Even those with limited means should not be subject to the taxation of their Social Security benefits, which our state legislators are unable to do. I find the argument that it would cost the company a certain amount of money to implement ludicrous. In the … Read more
As the pandemic-era combination of stimulus payments, soaring home values, and stock-market gains continue to rise, more and more Americans are retiring early and delaying receiving their Social Security benefits — a trend that’s becoming more common as a result. The COVID-19 economy has created … Read more
You can only deduct so much of your wages for Social Security taxes before you run out of money to spend on other things. A new report from the Congressional Research Service seeks to change that. As long as you’ve worked, your “taxable earnings base,” … Read more
There’s nothing worse than losing your retirement income because of a sudden cut in Social Security benefits. Even in the best of circumstances, Social Security benefits aren’t enough to sustain a person’s standard of living, so a reduction in benefits could put you in serious … Read more