Social Security beneficiaries eagerly anticipate news about potential increases in their monthly payments at the beginning of each year. With inflation affecting purchasing power, the Cost of Living Adjustment (COLA) is a critical factor in determining whether recipients will see extra funds in January 2025. Let’s dive into the details to understand what lies ahead … Read more
Last week, Congress narrowly sidestepped a partial government shutdown by passing a new law aimed at addressing reductions in Social Security benefits for some public sector workers. While the legislation has been celebrated by law enforcement groups, critics argue that its financial implications could accelerate Social Security’s insolvency. Senate Approves Social Security Fairness Act On … Read more
This article was originally produced by Capital & Main, a nonprofit journalism publication, and is republished with permission. When I first encountered Joanne Marie Erickson, she had not stepped out of her apartment in weeks. Sitting on her worn-out couch, surrounded by the clutter of her living space, she appeared both overwhelmed and isolated. Her … Read more
In 2025, Social Security Disability Insurance (SSDI) beneficiaries will see an increase in their monthly payments due to the Cost of Living Adjustment (COLA). This adjustment reflects inflation and aims to help recipients maintain their purchasing power. Here’s everything you need to know about the upcoming changes, including the amount of increase, payment schedules, and … Read more
The U.S. Government recently confirmed that Supplemental Security Income (SSI) payments for January 2025 will not be disbursed in the same month. Instead, beneficiaries will receive their checks earlier, with December 31, 2024, as the anticipated payment date. This shift has raised questions about the timing, amounts, and impact of the adjustment. Here’s everything you … Read more
If you or someone you know is retired in the United States, the upcoming changes to Social Security payments starting in January 2025 are worth noting. These updates, announced by the Social Security Administration (SSA), aim to provide faster payments and better support, enhancing the daily lives of millions of retirees. What to Expect from … Read more
The amount of Social Security benefits varies depending on the age at which individuals choose to retire. Claiming benefits at age 62 differs significantly from claiming them at 67 or 70, as delaying retirement generally results in higher monthly payments. This article explores the average Social Security checks for these ages and the factors influencing … Read more
Social Security plays a vital role for many retirees, including those who are divorced. Recent changes and adjustments in the program could significantly impact divorced individuals, particularly those relying on spousal or divorce benefits. Understanding these changes can help you better plan your finances and maximize your benefits. Eligibility for Spousal or Divorced Benefits Divorced … Read more