The upcoming 2024 U.S. presidential election has brought Social Security to the forefront of political discourse, with potential implications for retirees and those nearing retirement. As one of the most critical social programs in the United States, Social Security provides a financial safety net for millions of Americans. However, with the program facing long-term funding…
Social Security Articles
What to Do if You Receive Incorrect Information from Your Local Social Security Office
The Social Security system is notoriously frustrating. For example, did you know that it is not the job of the Social Security Administration to advise beneficiaries how best to take their benefits? This means staffers at your local Social Security office may not understand every arcane rule or unusual circumstance you may face. Some beneficiaries…
How Remarrying Late in Life Could Affect Your Social Security
The Social Security Administration uses many factors to calculate benefit amounts for beneficiaries, including marital status. For long-married couples who are lucky enough to grow old together, calculations for spousal and survivor benefits are fairly straightforward. However, widowed or divorced Social Security beneficiaries can run into complications if they decide to remarry later in life….
How Social Security Calculates Widow and Widower Benefits
Social Security offers several different types of benefits to the survivors of deceased beneficiaries, but widow and widower benefits are the type of survivor benefits that affect the most beneficiaries. Though it can be unpleasant to think about you or your spouse dying, it’s a good idea for married couples to include widow or widower…
4 Big Ways Your Social Security Benefits are Getting Smaller
This year marked a rather significant increase in benefits for those receiving Social Security. The 2018 COLA (Cost of Living Adjustment) was one of the largest in the past decade, giving retirement beneficiaries an extra 2% on their checks (the most significant jump since 2012.) Unfortunately, there are forces at work that can easily chip…
Do You Need to Pay Taxes on Your Social Security Benefits?
Tax season always brings about a bit of panic, as those who are getting Social Security benefits may be filing their first return since they started receiving payments. These payments, while a welcome addition to their financial support system, can feel uncertain (or even a bit burdensome) as the issue of tax liability comes to…
How Your Government Pension May Impact Your Social Security Benefits
Retirees who are entitled to a government pension can have an unpleasant surprise waiting for them when they apply for their Social Security benefits. Two different Social Security provisions for retired government workers—the Government Pension Offset and the Windfall Elimination Provision—can reduce the amount of your Social Security benefit checks. If you are eligible for…
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