Category archives: Social Security Benefits
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2 weeks ago
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Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement.
Researchers from the University of Michigan studied the expectations of workers and found great ... [read more]
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10 months ago
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The amount of Social Security benefits a surviving spouse receives depends, in part, on when their deceased spouse began claiming benefits. However, husbands usually don’t take survivor’s benefits into account when claiming benefits, according to a recent study, meaning that many widows will needles... [read more]
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11 months ago
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The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s.
Cost-of-living increases are tied to the consumer price index, and a modest upturn in inflation rates and gas prices means Social Security recipients will get on... [read more]
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1 year ago
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In the wake of the coronavirus pandemic, unemployment is skyrocketing. Seniors who lose their jobs may be tempted to claim Social Security benefits early, but should they, given the resulting reduction in future benefits? The answer depends on your situation, but you may be able to claim and not sac... [read more]
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1 year ago
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To protect its workers and the public during the coronavirus pandemic, the Social Security Administration (SSA) has suspended face-to-face service at its field offices and hearings offices nationwide until further notice. Payments to the nearly 70 million Social Security beneficiaries will not be af... [read more]
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2 years ago
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For years people have been worried about Social Security’s future, but what is the actual outlook? According to the federal government, unless Congress acts to intervene, Social Security shortfalls are expected beginning in 2035.
Social Security retirement benefits are financed primarily thro... [read more]
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2 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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