This year marked a rather significant increase in benefits for those receiving Social Security. The 2018 COLA (Cost of Living Adjustment) was one of the largest in the past decade, giving retirement beneficiaries an extra 2% on their checks (the most significant jump since 2012.) Unfortunately, there are forces at work that can easily chip…
Do You Need to Pay Taxes on Your Social Security Benefits?
Tax season always brings about a bit of panic, as those who are getting Social Security benefits may be filing their first return since they started receiving payments. These payments, while a welcome addition to their financial support system, can feel uncertain (or even a bit burdensome) as the issue of tax liability comes to…
How Your Government Pension May Impact Your Social Security Benefits
Retirees who are entitled to a government pension can have an unpleasant surprise waiting for them when they apply for their Social Security benefits. Two different Social Security provisions for retired government workers—the Government Pension Offset and the Windfall Elimination Provision—can reduce the amount of your Social Security benefit checks. If you are eligible for…
Could You Qualify for Retroactive Lump Sum Social Security Retirement Benefits?
For retirees who wait until after their full retirement age before filing for benefits, a little-known Social Security claiming strategy can potentially offer them a lump sum of up to six-months’ worth of retroactive benefits—which can be a boon for any retiree who might need a sudden injection of cash. Here’s what you need to…
10 Social Security Secrets You Need to Know for 2018
With so many changes happening to the tax code and how retirement benefits are treated, it can be easy to lose sight of the latest happening with Social Security. What new rules have been implemented? Are there important loopholes that might affect you? While the full impact of the new regulations remains to be seen,…
Why the Government May End Social Security Numbers (and How to Protect Yours)
How much do you think about the security of your Social Security number? All of your life, you’ve been told to keep it secret and safe. However, it’s often requested during life’s everyday moments, such as when you visit the doctor, open a bank account, or start a new job. Data Safety Is in Question…
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