President Joe Biden’s unexpected withdrawal from the 2024 presidential race has thrust Vice President Kamala Harris into the spotlight. With Biden’s endorsement, Harris is now the leading candidate for the Democratic ticket. Consequently, her policy positions, including those on Social Security, will be scrutinized by the public. Harris’ detailed stance on Social Security remains somewhat … Read more
Knowing the yearly increase in Social Security checks is crucial for millions of Americans who depend on these payments for their essential needs like housing, food, healthcare, and entertainment. One key factor influencing these payments is the cost of living adjustment (COLA). Each year, the Social Security Administration (SSA) implements a COLA to adjust Social … Read more
Social Security is a vital lifeline for millions of retirees in the United States, providing essential income to cover monthly expenses and keep pace with inflation. Over the past decade, Social Security payments have evolved, reflecting economic and demographic changes. With new policies and periodic adjustments, average payments are expected to increase significantly by 2030, … Read more
Cost-of-Living Adjustments (COLA) are crucial for retirees and Social Security beneficiaries, as they determine the annual increase in benefits to keep pace with inflation. Despite their importance, inadequate COLA increases have significantly eroded the purchasing power of Social Security income over the years. According to the Senior Citizens League (TSCL), a nonpartisan advocacy group, Social … Read more
As mid-year approaches, many Social Security clients are eager to receive their payments for July 2024. The Social Security Administration (SSA) issues payments according to a specific schedule based on the beneficiary’s date of birth. This article outlines the payment schedule for July 2024, details on how payment amounts are determined, and highlights special considerations … Read more