Some Social Security changes to be expected in 2024 will affect the monthly checks of eligible seniors.
Social Security Changes to Affect Monthly Checks and Benefit Amounts of Eligible Retirees in 2024
The Social Security changes will reportedly affect the monthly checks and benefits amounts of eligible retirees in 2024, wherein millions of seniors relying on the monthly benefits will expect various Social Security changes that might positively or negatively impact them.
According to a report published in The Motley Fool, the Social Security changes next year include some early filers getting more of their benefits after retirement as they will earn more despite inflation and high cost of living if they continue working until their full retirement age during the implementation of the Social Security changes.
Aside from the mentioned Social Security changes, retirees already collecting Social Security benefits will also be affected by the Social Security changes due to expected varying cost-of-living adjustments due to inflation every year.
Eligible Retirees Should Look Out for Social Security Changes That Will Affect Their Monthly Checks and Benefits
Following various Social Security changes, eligible retirees are encouraged to look out for their impacts on the monthly checks and benefits, especially with negative impacts on other retirees who need to wait longer to get maximum benefits.
With Social Security changes, retirees should also be updated on the changes in the Social Security taxes despite it being constant because there is no guarantee that it will not change suddenly by next year, AARP reported.
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