Social Security recipients are set to receive higher payments in February 2025, thanks to the 2.5% Cost-of-Living Adjustment (COLA) applied to benefits this year. The adjustment aims to help seniors and other beneficiaries cope with rising living costs by increasing monthly payments across the board. For some retirees, this boost could mean $3,455 or even…
Millions of seniors could see $1,976 deposited into their accounts in just a few days, as the Social Security Administration (SSA) gears up to send out its next round of payments in February 2025. If you’re 62 or older, it’s time to check your eligibility and see how you can maximize your benefits. Who Qualifies…
If you’re planning your retirement, understanding how state taxes and the cost of living impact your Social Security benefits is essential. In 2025, nine states continue to tax Social Security benefits, and the combined effect of taxes and living expenses could influence where you choose to retire. Here’s a closer look at these states and…
Millions of public sector workers, including teachers, firefighters, and police officers, are set to receive a significant boost in their Social Security benefits. This change came after President Biden signed the Social Security Fairness Act into law on January 5, 2025. The legislation repeals two controversial provisions—the Windfall Elimination Provision (WEP) and the Government Pension…
The recently passed Social Security Fairness Act is set to bring financial relief to millions of retirees, with an average monthly increase of $360 in Social Security benefits. This legislation, signed by President Joe Biden, eliminates outdated provisions that previously reduced benefits for public sector workers. Here’s what you need to know about the changes,…
As of 2025, the average monthly Social Security benefit for a 69-year-old is approximately $1,945. This figure reflects national data and can vary widely based on when benefits were claimed lifetime earnings, and other personal factors. Here’s what you need to know about this average amount and how it applies to your retirement. How Social…
Divorce is never easy, and it can raise big questions about your financial future—especially when it comes to Social Security. If you’re retired or nearing retirement, understanding how divorce impacts your benefits is critical for planning your finances. Here’s a closer look at how spousal and survivor benefits work after divorce. How Divorce Impacts Social…
A large number of Americans are still unaware of their eligibility for Social Security payments or the Child Tax Credit (CTC). If you’re still not sure, you can be assured that you are going to eligible to collect both Social Security and the CTC payments if you qualify for both. Keep in mind that while…
The regulations governing Social Security and Medicare may seem similar because of their interdependence. This isn’t true, though. As early as age 62, you are eligible to begin collecting Social Security benefits. Alternatively, Medicare requires proof of age 65 before any benefits can be obtained. Although it’s not mandatory to register in Medicare at age…
Americans first need to understand the ins and outs of how Average Social Security benefits are calculated, be aware of how much the Average Social Security benefit retired workers are bringing home at age 67, and appreciate how important claiming age is to this equation. You become eligible for Average Social Security Benefit at…