Social Security Checks Will Rise by 2% in 2018

The Social Security Administration (SSA) announced that, based on the increase in the Consumer Price Index from the third quarter of 2016 through the third quarter of 2017, Social Security and Supplemental Security Income beneficiaries will receive a 2% cost of living adjustment (COLA) for 2018. This is after a 0.3% increase in 2017 and…

 

When Should You Begin Collecting Social Security Benefits?

This article originally appeared in the October 2013 issue of the AAII Journal. There are many complex rules governing Social Security benefits. However, four key points can help you make an informed decision about when to claim benefits. To simplify the discussion, several assumptions are made: your Social Security benefits would not be affected by…

 

An Update on the New Social Security Claiming Rules

My January AAII Journal article on the changes to Social Security claiming strategies advised treating April 29, 2016 as the deadline for using the file-and-suspend strategy. At the time of publication, the Social Security Administration (SSA) had not officially announced a deadline. Last week, the SSA issued an Emergency Message regarding the changes to claiming…

 

5 Social Security Mistakes to Avoid

For many Americans, Social Security is, or will be, a significant portion of their retirement income. However, a recent Motley Fool article¬†cautions against thinking it’s as simple as claiming your benefits and then receiving a monthly check. Five of the Motley Fool’s retirement contributors offered their thoughts on what would-be Social Security recipients should keep…

 

Budget Deal Would End Popular Social Security Claiming Strategies

InvestmentNews reported that a budget agreement by congressional leaders and the White House would end popular Social Security claiming strategies. Once it becomes law, it could cut off payments for beneficiaries, according to those familiar with the deal. According to the article, the legislation contains several entitlement reforms. One of them would end the ability…