Tags archives: Social Security
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4 years ago
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The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security shortfalls could begin earlier than projected.
Social Security retirement benefi... [read more]
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4 years 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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4 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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4 years ago
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The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year's change. The small rise has advocates questioning whether the government is using the proper method to calculate the cost of living for older Americans and those with disabilities.
... [read more]
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4 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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5 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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5 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.
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5 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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5 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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7 years ago
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Medicare is offering relief from penalties for certain Medicare beneficiaries who enrolled in Medicare Part A and had coverage through the individual marketplace. For a short time, these individuals will be able to enroll in Medicare Part B without paying a penalty for late enrollment.
Indivi... [read more]
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