Social Security is more complicated than most people think. Here are six of the most common questions that come up on Social Security. With the baby boom generation entering retirement, there’s a lot of demand for good Social Security information. People are confused—both about how the system works, and how these inner workings affect their …
Each year, the Social Security Administration (SSA) announces the cost-of-living adjustment for the next year. Whether you are retired or not, you should be aware of what the changes mean. Last October the Social Security Administration announced that the cost-of-living adjustment (COLA) for 2020 will be 1.6%. The increase will show up in beneficiaries’ January …
The Cost-of-Living Adjustment and What It Means For You Read More »
Two big areas of confusion surrounding Social Security benefits are the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). Although they are often spoken in the same breath, they are really quite different. The only thing they have in common is that they affect people who worked in jobs not covered by Social …
If you, or someone you know, has lost a spouse, look into the rules and strategies for Social Security survivor benefits. By coordinating these benefits with your own retirement benefit, you may be able to maximize both benefits. Social Security can be a lifeline for widows. If your husband dies after you have both started …
Most people tend to underestimate their life expectancy. But thinking you might live to a very old age might lead to better planning decisions. Life expectancy is a critical element in Social Security planning. Because benefits continue for life, the total amount you stand to receive over your lifetime hinges on how long you and …
For some families, dependent benefits for children with disabilities are an important factor in the Social Security claiming equation. Here’s what you need to know. Should I apply early? As with all dependent benefits, in order for the child to receive benefits, the parent on whose record the child is claiming must have filed for …
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