At the end of 2018, over 62 million people received Social Security benefits. The number includes those receiving Old Age and Retirement benefits and disability. There are lots of questions surrounding Social Security. Like, when should I apply? When is my full retirement age? What happens if I file early? What happens if I delay? One of the most asked questions is the title … [Read more...] about Is My Social Security Income Tax-Free?
The Social Security Administration (SSA) announced in October (which they do each year) what happens to your Social Security income in 2019. They publish the cost of living adjustments (COLAs), income limits, taxes, etc. I'll cover all of the changes in this post along with the announced changes to Medicare. These government programs are two if the most complicated. … [Read more...] about Find Out What Happens to Your Social Security Income in 2019
I want you to get Social Security survivor benefits right before you ever claim. Why? Because if you don't, it can cost your survivors tens of thousands of dollars in lost benefits (even hundreds of thousands). I've seen so many people make Social Security claiming decisions without a thought about survivor benefits. DON'T BE ONE OF THOSE PEOPLE! Read on to learn … [Read more...] about Making Sense of Social Security Survivor Benefits
According to the Center for Retirement Research, at Boston College, 42% of men and 48% of women claim their Social Security retirement at age 62, the soonest they can apply. But is that a wise thing to do? In some cases, yes. In other cases, no. Here I'll offer the top 4 reasons to delay claiming Social Security Benefits. Keep in mind that for many people, Social Security is … [Read more...] about The Top 4 Reasons to Delay Claiming Social Security Benefits
Is Social Security really going broke? The answer depends on your meaning of the word broke. In this post, I'll give you the facts about the state of the Social Security trust fund, introduce you to some of the ideas to fix it, and how all of this impacts the decision of when to claim your benefits. The Social Security trust fund The Social Security Trust Fund consists … [Read more...] about Is Social Security Really Going Broke?
The question, what are Social Security COLAs (cost of living adjustments) comes up a lot. The equally common problem is, how are they calculated? In this post, I’ll answer these two questions and give some background on how these two things impact Social Security benefit checks. To get it from the horse’s mouth, I went to this Social Security website page, Cost-of-Living … [Read more...] about What Are Social Security COLAs and How Are They Calculated?
Social Security Administration recently announced 2018 Social Security COLAs (cost of living adjustments) and other benefits. The 2018 COLA will be 2.0% for 2018. That's the largest since 2012. In July, the Social Security Board of Trustees estimated a 2.2% COLA for 2018. The Social Security Administration says that COLA increase applies to over 65 million … [Read more...] about 2018 Social Security COLAs Announced