The future of Social Security is at stake in the 2020 presidential election, even if other issues are hogging the headlines for now. Social Security funds – comprised of Old-Age and Survivors Insurance (OASI) and Disability Insurance (DS) – will begin to leak assets and are on pace to run dry by 2034. Social Security money comes from payroll […]
Guard your assets! Use the FREE SimplyWise Charge-Finder to identify and report IRS fraud on your accounts. The idea behind Social Security is that, when someone grows old, disabled, or unable to care for themselves for some reason, the money they paid into Social Security during their working years will be returned to them as […]
Social Security is much broader than just the benefits provided to retired workers. In fact, the Social Security Administration (SSA) provides an important source of retirement income for many Americans, including the spouses, ex-spouses, widows, widowers, and dependent children of workers. We break down everything you need to know, and how to apply for spousal […]
You might be imagining retirement as a completely different life from your working years: enjoying the hobbies you never had enough time for; spending long, fun-filled days with your grandkids; traveling wherever and whenever the whim strikes. But one aspect of your working years may follow you into retirement: taxes. Seniors are working at historic rates, […]
Social Security fraud now constitutes the top scam in the U.S. The Federal Trade Commission said it has received nearly 1.3 million reports of scammers posing as government agents since 2014, more than any other type of fraud reported in that time frame. In the first three months of 2019, nearly 65,000 incidents of attempted scams were reported and […]
Supplemental Security Income, or SSI as it is commonly known, provides extra financial security for people who are blind, disabled, or over age 65 who lack the resources to cover basic needs. When Social Security was put in place in 1935, that extra measure of security was expected to be provided by the states; but […]
While retired workers make up the bulk of Social Security beneficiaries, the Social Security Administration (SSA) provides important benefits to many other groups, including children. More than 4 million children in the United States receive Social Security benefits every year. In fact, the SSA pays more benefits to children than any other government program. The benefits, which are based […]
If you’re ready to apply for Social Security benefits, you’ve probably already given some thought to things like when you want your benefits to start or what kind of documents you might need to apply. A lot of that will will of course depend on the type of benefits you’re seeking. Applying for retirement benefits, […]
Most of us spend years dreaming of retirement, but we might not start thinking about Social Security until the last minute. Yet understanding benefits — from the best age to claim Social Security to how much you’ll collect — is critical to making the most of what your retirement savings. Social Security payments are a nearly universal […]
Nearly every American worker depends on Social Security (SS) for some or all of their income in retirement. In fact, more than 48 million Americans currently receive Social Security retirement benefits. But the Social Security Administration (SSA) also provides both a one-time death benefit as well as ongoing monthly survivors benefits (also known as ‘widows benefits’) for […]