The recent ruling by the Colorado Court of Appeals has stirred significant changes for retirees, especially regarding Social Security benefits and alimony. The court decided that Social Security benefits could be used to determine spousal support income, impacting the financial landscape for many retirees. This decision aligns with federal law, which states that Social Security … 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
Social Security has confirmed the third round of payments for retired workers is just around the corner. On Wednesday, July 24th, retirees who claimed benefits after May 1997 and were born between the 21st and the 31st will receive their new Social Security payment, potentially up to $4,873. However, it’s important to note that not … Read more
When politicians discuss raising the retirement age, it triggers uncertainty among millions of seniors. Any changes in laws or requirements can significantly impact their monthly benefits. Since many seniors rely solely on Social Security benefits to cover living expenses, staying updated on new proposals, bills, and potential benefit cuts is crucial for planning and considering … Read more
The Social Security Administration (SSA) is a federal agency that delivers benefits to eligible retirees who meet the criteria of full retirement age, work history, and Social Security contributions. Any modifications by the SSA significantly impact retirees and other beneficiaries, such as survivors, disabled people, and Supplemental Security Income (SSI) recipients. Simplifying Access The main … Read more
Summer is here, and while many of us are planning vacations, the Social Security Administration (SSA) remains hard at work. In July, the SSA continues to distribute monthly payments to beneficiaries. This month’s third batch of checks was delivered on July 17, with the average monthly payment for retired workers increasing to $1,900 due to … Read more
As July comes to an end, the Social Security Administration (SSA) is set to distribute two more checks to eligible beneficiaries. To receive one of these checks, you need to meet specific requirements. Meeting these requirements ensures timely payment, while failing to meet them means your payment will be scheduled for a different date. Requirements … Read more
The second round of July’s Social Security payments, valued at up to $4,873 for the highest-income earners who retire at 70, will be distributed to the first group of retirees tomorrow, July 17, 2024. These monthly checks provided by the Social Security Administration (SSA) are designed to reduce or replace retirees’ income once they stop … Read more
Social Security is a crucial source of income for many citizens, particularly after retirement. Knowing how and when these payments are made is essential for effective personal financial management. The amount of money you receive and the timing of these payments depend on several factors related to your work history and contributions. The benefits you … Read more