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According to the Social Security Administration (SSA), 69.1 million people benefit from Social Security programs, such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).

In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be more modest – just 3.2 percent, versus the nearly 9 percent boost in 2023.

The Social Security Administration (SSA) website hosts a wealth of online tools that offer you convenient access to benefits information. To make the most of these tools, simply create a my Social Security account online. It is free to set up a mySSA account.

Do you have a friend or loved one who receives Social Security and is unable to manage her payments? If so, you can request that the Social Security Administration (SSA), the government agency that disburses Social Security, name you as the representative payee for that person.

When loved ones pass away, there are lots of considerations, including what happens to their Social Security. The decedent's payments need to be stopped, but survivor's benefits may be available to the spouse or, in certain cases, children.  Social Security benefits stop at death. ...

If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment.

The decision of how long to wait to claim Social Security benefits depends on a number of factors, including other income sources in retirement and projected longevity.  But Social Security experts advise waiting as long as possible to start collecting benefits, up to age 70. 

The Social Security trustees are projecting that due to the economic downturn caused by the "pandemic" the Social Security trust fund will be depleted in 2033 -- one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will be reduced unless Congress acts in the interim. 

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for retirement. 

This year, Social Security benefits will rise 5.9 percent, the sharpest upsurge since 1983’s 7.4 percent jump. 

The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security shortfalls could begin earlier than projected.

There often comes a time in a older adult's life when he or she cannot handle his or her finances any longer. The usual solution is to already have a general durable power of attorney in place that authorizes a trusted person (such as a healthy spouse or an adult child) to handle the elder's financial affairs in the event of incompetency or other disability. This is a sound strategy but, unfortunately, does not apply to management of Social Security benefits. This is because the Social Security Administration (SSA) simply does not honor powers of attorney and, because SSA is a federal agency, they do not concern themselves with state laws that require financial and other institutions to honor valid power of attorney.

If you get Social Security disability or retirement benefits and you get married again, there are four ways in which remarriage may affect your benefits:

Social Security survivor's benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim.  While you can claim survivor's benefits as early as age 60, if you claim benefits before your full retirement age, your benefits w...

Benefits are available to ex-spouses under certain circumstances. As retirement approaches and Social Security benefits become available, it is important for divorced people to be particularly aware of their entitlement rights, according to Yahoo! Finance in “3 Things to Know About Social Sec...

Social Security is likely to be very important to your retirement. But wait, the amount can vary. Figuring out when to begin taking Social Security can be a real challenge, because the time to begin filling your claim ranges from the age of 62 to 70, according to the Independent Record in “The...

Social Security options need to be approached carefully. Many people have been known to confuse “Restricted Application” with the “Claim and Suspend” strategy and that can cause some problems, according to Forbes in “Put Thousands In Your Pocket By Taking Advantage Of the Social Security...

It is your future and your money. Learn everything you can about the program. Social Security is an entitlement, and you have worked long and hard for it. It would be best to take the time to investigate what you will receive and when it would be best to take it, according to the AARP Bulletin...

Open and honest communication can be the key to a good estate plan. Most married couples have a small age difference.  However, for those who don't, it is possible that there can be complications, according to the Reno Gazette Journal...

You can have a firm grasp on your benefits. While you may think you understand Social Security benefits, don't be surprised if you don't know what you don't know about them, according to The Motley Fool in “4 Signs You're Thinking About Social Security Benefits the Wrong Way.”

Mistakes are easy to make when it comes to your benefits so approach the issue carefully. A person in the U.S. works to earn Social Security benefits. It would be a good idea to approach decisions on your benefits carefully, according to the Independent Record...

What are the options with your benefits and what is the future of Social Security in general? There are many, many variables when determining Social Security benefits, so it is probably best to plan for your retirement and leave it as an unknown factor, according to The Motley Fool...

Social Security rules and regulations are the key to the magic retirement age. For some reason, many American have come to believe the magic number for retirement is 61 and they are wrong, according to The Motley Fool's article “Americans' Ideal Retirement Age–and Why It's Not Realistic.”

Opponents often claim that Social Security is going broke and will soon be bankrupt.  However, that isn't true. A recent government report is being used by opponents of Social Security and government spending, as ammunition to charge that if something is not done, then Social Security will...

Social Security benefits are important to most retirees, so make sure you get the most out of it. Many people choose to figure out how to maximize their Social Security benefits for themselves.  However, many do so to their own detriment.