Due to the ongoing coronavirus pandemic, the Social Security Administration is continuing to limit its in-person services to appointments only. If you have tried rectifying any issues with their...
There are millions of retirees in America who get social security benefits every month. As a senior citizen, you would want to live your life more comfortably. But that’s not possible when you’re running low on your retirement savings. That’s where Social security benefits bail you out every month. As...
The annual cost-of-living adjustment, or COLA, for Social Security benefits in 2022 — usually announced in October — could be 6% to 6.1%, the highest since 1983, based on Tuesday’s Consumer Price Index announcement, according to Social Security and Medicare policy analyst Mary Johnson of The Senior Citizens League, who estimated the 2022 COLA would be 6.2% a month ago.
Social Security payments for seniors will increase nearly $100 in 2022 under historic cost of living adjustment
Social Security is getting a major cost of living adjustment in 2022. The average senior will see an increase of 6% in monthly payments. This is due to inflation brought on by the coronavirus pandemic, but would serve as the biggest cost of living adjustment in 40 years. How much...
After several years of tepid cost-of-living increases, seniors are likely to get a significant raise in their Social Security benefits in 2022. The Kiplinger Letter is forecasting that the annual cost-of-living adjustment for Social Security benefits for 2022 will be 6%, the biggest jump since 1982, when benefits rose 7.4%. That would also be slightly lower than The Kiplinger Letter predicted in July.
Once upon a time — our parents’ time — Social Security was automatic: You reached age 65 and started collecting your monthly check. Today, dealing with Social Security involves making important decisions that will impact your income for the rest of your life. The most important choice you will make...
HAZLE TOWNSHIP, LUZERNE COUNTY (WBRE/WYOU) — A popular expo for mature members of the community returned Thursday to the Hazleton area. It helps connects seniors with services they may not be aware of. “Did you do your rebates yet?” asks Representative Toohil. Renter and property owner rebate information is only...
It looks like good news is on the way for people who receive Social Security benefits: Monthly checks are expected to get a historic boost in January 2022. Recipients are looking at between a 6.0% to 6.1% increase in their monthly payments, according to The Senior Citizens League (TSCL), a nonpartisan group that releases regular estimates of Social Security cost of living adjustments (COLA).
While many seniors rely heavily on Social Security to make ends meet, a large number of people have lost faith in the program. A good 73% of working Americans think Social Security won’t be there for them in retirement, according to the 21st Annual Transamerica Retirement Survey. But those who think that way may be blowing the current situation out of proportion.
(Reuters) - The U.S. government recently released its annual report on the health of Social Security. Not surprisingly, that was met with a slew of doomsday forecasts from pundits and media. Social Security will soon be insolvent! Insolvency is coming years earlier than we thought! Benefit cuts are a real...
Imagine a boat that has sprung a leak. The damage to the hull can’t be repaired, so the vessel is constantly taking on water. It’s not a good situation. Fortunately, there are 20 able-bodied passengers aboard to help bail, keeping the ship afloat. But after a while, one of those...
Waiting until 70 to sign up for Social Security can increase your benefits by over 75% in some cases, compared to starting at 62. That's a compelling reason to delay benefits, but there are also some good arguments for signing up sooner. Here's one scenario in which you definitely want to sign up right away.