While it’s not advisable to rely solely on Social Security during your golden years, it’s undeniable that these benefits play a significant role in many retirees’ financial plans. For the average working…
Category: Social Security
Retirement Age Overhaul and More – What Will Congress Do?
A group of Republican lawmakers is working towards achieving a balanced federal budget by cutting down government expenditures, which includes programs like Social Security. Here’s why it matters: If their plan becomes…
Retire Abroad and Still Get Social Security Benefits- Here’s What You Need to Know
Retiring abroad can lead to substantial savings for retirees on various expenses, from housing to food. This is a reason more Americans are opting for overseas retirement. If you’re contemplating retiring in…
Rethinking Retirement Strategies: The Limitations of Working Longer for Maximized Benefits
Elongating one’s working years to optimize Social Security benefits might be a compelling retirement strategy. Continuing employment can enable individuals to maximize their eventual benefit, persist in saving for retirement, and circumvent…
The Hidden Dangers That Could Rob You Of Your Social Security
Social Security predominantly serves older retirees and disabled individuals through programs like Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). The latter provides additional assistance to those vulnerable due to…
A New Legislative Bill Could Impact Your Social Security and COLAs: Here Is What You Need To Know
Representative John Larson of Connecticut, a Democrat, has reintroduced a revised version of the Social Security 2100 Act, formerly known as “A Sacred Trust,” with a modification aimed at providing a more…
On the Horizon: Forecasting a 3% COLA Rise in 2024
As the new COLA date approaches, projections indicate that monthly Social Security payments will slightly increase by around 3% in 2024. This is a relatively modest adjustment in their payments for the…
COLA’s Dark Secret: Why 2023’s Record-Breaking Increase Spells Trouble for 2024
The U.S. economy faced its most aggressive inflation in 40 years in 2022. This surge affected every American, with rising costs for essentials like gas, groceries, and utilities. However, those relying on…
Top 3 Strategies to Ensure Your Future Despite Social Security Turmoil
When planning for retirement, financial advisors stress the need for workers to consider the possibility of a Social Security shortfall. The release of a recent report on Social Security has triggered apprehension…
AI Chatbots Stealing Social Security Benefits: Is Your Money at Risk?
The U.S. Social Security Administration has become acutely aware of the pressing challenges and dangerous possibilities brought forth by the rapid advancement of artificial intelligence technologies. One significant concern that has come…
