While the Social Security Administration has had to cease some services due to the COVID-19 outbreak, benefit recipients will continue to receive their checks, whether through direct deposit or in the mail. That’s good news for the people who receive these benefits, especially now that other forms of income may be limited or not at all available. […]
In all, it is estimated that 64 million Americans received Social Security benefits in 2019. Not only does the program have a wide reach, it is also extremely meaningful to beneficiaries; over half of elderly recipients rely on Social Security for more than 50% of their total income. It comes as no surprise, then, that […]
Will Social Security recipients get a stimulus check? The novel coronavirus has thrown citizens and markets into a panic. People are losing their jobs. Retirement savings are being ravaged. The government is responding with a $2 trillion stimulus deal that would give cash directly to Americans and some of the businesses hardest hit by the Corona Crash. […]
The CARES Act (Coronavirus Aid, Relief, and Economic Security) Act passed March 27 is more widely known right now as the “stimulus check bill”. The legislation is meant to provide relief to Americans whose employment and savings has been impacted by the COVID-19 pandemic. Indeed, those individual stimulus checks are badly needed. A recent SimplyWise survey found […]
Last week, the government passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The legislation sets up a $2 trillion stimulus package to help the millions of Americans that have been rocked by the COVID-19 pandemic. According to presidential economic advisor Larry Ludlow, the money is expected to hit bank accounts in just […]
Navigating retirement planning and Social Security rules can be challenging in the best of times. Trying to think about your 401(k) and your benefits during coronavirus can be downright overwhelming. But you are not alone. A recent poll found that despite the ongoing pandemic, Americans are more concerned about their finances than their health right now. The coronavirus […]
As we all adjust to this new normal, grocery stores and retail chains are stepping up to better serve some of the more vulnerable populations during the novel coronavirus pandemic. A number of chains recently announced early opening policies to give senior citizens and other at-risk groups less-crowded space to shop. Panic-shopping has left shelves […]
The Social Security Administration was born out of the national upheaval following the Great Depression. And today, we’re going through a historic pandemic that is similarly rocking our nation and world. Social Security benefits are received by about 64 million people — retired workers, disabled people, and survivors of workers who have died. It provides roughly a third of […]
This is a challenging time for just about everyone. Even beyond the health concerns, many are facing stressors like jobs lost, salaries cut, and savings and portfolios way down. (Though at least tax season has been pushed back…) And while social distancing and coronavirus isolation is necessary, being alone can add fuel to the fire. Spending time […]
If you’re thinking about claiming Social Security benefits early given the current economic climate, you may want to consider your other options before deciding. In fact, there are important factors to weigh as you consider your retirement and when to claim. Your monthly benefit from Social Security can considerably vary depending on what age you choose to start your benefits. […]