Those who are unable to work in retirement may be eligible for other government benefits, depending on their income. Supplemental Security Income (SSI) is for the blind and disabled as well as low-income seniors. It provides a monthly check worth up to $967 per month for a qualifying individual or $1,450 per month for a qualifying couple.
Related: Suze Orman warns Social Security recipients of a looming threat. Substantial contributions to employer-matching 401(k)s and investments in tax-advantaged IRAs are also ef
By now, all seniors on Social Security should have gotten their first checks for 2025. With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 per month.
Nearly 72.88 million Americans rely on Social Security for monthly income. The vast majority, about 65.5 million, collect Social Security benefits. Another 4.88 million receive Supplemental
The program's combined trust funds, however, are set to run dry in 2035, according to the most recent Social Security Trustees report. And while that date is by no means set in stone, if it is correct, it means the program may have to implement sweeping benefit cuts a decade from now.
Social Security benefits may be reduced in the next decade due to a financing shortfall. A new survey asks Americans how they would fix the program.
Unclear if sweeping executive order will affect Medicaid and other federal assistance programs for older Americans.
Learn how the Social Security Fairness Act may increase your retirement benefits by eliminating the Windfall Elimination Provision and the Government Pension Offset.
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