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#Social Security Benefits

Retirees on Social Security: Expect a Major Announcement in One Week

Next week, the Social Security Administration will announce next-year's cost-of-living adjustment. This will likely be the largest adjustment in decades. Many retirees will receive hundreds of dollars more per month in 2023. You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become...
BUSINESS
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COLA Social Security payment schedule 2022 — Exact dates for Americans to look for $1,657 payments to hit bank accounts

OCTOBER has arrived and that means new direct payments averaging $1,657 are expected to hit Social Security accounts. The Social Security Administration issues three payments on Wednesdays and when retirees collect depends on their birthdays. Below is the payment schedule for October:. Second Wednesday: October 12. Third Wednesday: October 19.
PERSONAL FINANCE
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Retirees may get the biggest Social Security boost in 40 years. That also means some will pay taxes on it for the first time

Those who make money in addition to their Social Security checks are on the hook to pay federal income tax on up to 85% of their benefits. Retirees are almost guaranteed to get a big Social Security cost-of-living adjustment (COLA) next year due to persistent, sky-high inflation. And while that’s good news for those struggling financially with rising prices, some seniors should also prepare for a potentially higher tax bill.
PERSONAL FINANCE
Washington Examiner

Social Security payment: Direct check worth up to $1,657 for October to be sent in six days

Those who receive Social Security benefits only need to wait six more days until the first wave of October's monthly payments worth $1,657 gets sent out. Social Security payments will be sent out to recipients according to their birth dates, beginning on Oct. 12. People who are born between the first and the 10th will receive their payments first. Those who have a birthday that falls after that date will have to wait at least another week before receiving their checks, according to a calendar released by the Social Security Administration.
ECONOMY
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