Coronavirus has affected almost every part of our everyday lives – but one, in particular, is critically important for millions of Americans: Social Security. The crisis and uncertainty has already impacted the 61 million Americans collecting Social Security benefits today. For example, Social Security offices are closed and scam callers with supposed ‘news about your benefits’ are […]
Where you live in retirement can have a big impact on your annual expenses. While the average annual cost of living in the U.S. is $51,624, that figure can fluctuate significantly — from nearly double that amount in the most expensive state to just under 90 percent in the least expensive. Consider the average retirement […]
Cyber threat, from Social Security scams to data breaches, has become an everyday concern for all Americans. And in the fallout from COVID-19, digital attacks are at an all-time high. The Federal Trade Commission (FTC) reports a four-time increase in identity fraud throughout this past April, as compared to January through March of this year. The […]
Former wives (and all spouses, for that matter) of a worker who dies can receive Social Security divorced spouse benefits, as either spousal or survivor benefits. Moreover, they can receive benefits at the same percentages as widows and widowers), as long as the marriage lasted at least 10 years. That changes if the surviving spouse remarries before age […]
It may seem logical that if you never worked — and therefore never paid into Social Security — that you would not be eligible to receive Social Security benefits. Well, that’s not the case. In fact, there are several different scenarios in which a person can receive Social Security benefits without ever having paid into the system, […]
Where you choose to live, particularly in retirement, can have a big impact on your bottom line. Some states have higher property taxes than others. Some states tax things like food. Some states have no income tax at all, while others tax income including Social Security benefits. Many Americans mistakenly believe that Social Security is not taxable, so […]
The $2 trillion stimulus package signed into law on March 27 is meant to put cash directly into the pockets of the millions of Americans and businesses who have been impacted by the coronavirus. A record 3.3 million citizens recently filed unemployment claims, shattering the previous all-time high of 695,000 claims in 1982. The stimulus checks being sent […]
Navigating Social Security can be confusing. If you’re wondering how to apply for Social Security benefits, our Application Checklist breaks down what you need to know, step by step. Application Checklist to Apply for Social Security Benefits #1 Calculate the best age to claim Social Security retirement benefits #2 Pick the right date to […]
The fallout from the coronavirus pandemic has caused many to be laid off or furloughed from jobs, and retirement savings to be decimated. Over the last two weeks, unemployment claims have skyrocketed past previous levels. In fact, a recent SimplyWise survey found that 40% of Americans’ income has been impacted by the virus. Now, forced into […]
The average Social Security benefit across the country can vary pretty widely, and that variance has as much to do with the types of benefits being received as it does how much or for how long a worker may have worked. Some of the factors that impact a person’s benefits include: Whether they are receiving […]