After tax season, take a few minutes to go online and read your Social Security statement. Even if your retirement is 30 or 40 years away, you need to know where you stand now. The Government Accountability Office tells us that nearly a third of households with members ages 55 and up have no retirement savings plan or pension in place—zip. That means Social Security is the only post-retirement pay they’ll get – and the estimated average monthly benefit for retirees (as of 2017) is just $1,360. (See what I mean by “not enough”?) Continue reading
FICA taxes help provide benefits for retirees, disabled people and children. This contribution helps your parents and grandparents have a secure retirement while securing today and tomorrow for you and your future family. Learn more about FICA. Continue reading
One of the biggest mistakes people make is simply not taking the time or waiting too long to understand how the retirement system works. If you’re worried that you won’t have enough money to last throughout a longer lifetime, take action by doing something about it. According to a 2016 survey, only 40 percent of workers have gotten an estimate of their Social Security benefit amount and only 17 percent have a written financial plan. Continue reading
March is Women’s History Month — a time to focus not just on the past, but on the challenges women continue to face. Nearly 60 percent of the people receiving Social Security benefits are women, and in the 21st century, more women work, pay Social Security taxes, and earn credit toward monthly retirement income than at any other time in our nation’s history. Knowing this, you can be the author of your own rich and independent history, with a little preparation. Continue reading
Your first job is a landmark occasion. You’re meeting new people, making professional connections, and probably cashing that first paycheck. You might be a little surprised when you see a portion of your earnings go to a tax called “FICA” for the Federal Insurance Contributions Act. This deduction goes to Social Security and is your way of helping us secure your today and tomorrow. It’s our job to keep the safety net of Social Security strong through your incremental contributions. Continue reading
When a person becomes disabled, it can be a very stressful time in their life. There are many questions and unknowns when you have to transition out of the workforce due to medical issues. While an employer may offer short or long-term disability, most people faced with a disability will file for benefits with Social Security.
If you’re facing life with a disability and don’t know where to start, we encourage you to visit our website at www.socialsecurity.gov/disabilityssi. You can apply for benefits on our website; it’s the most convenient way. Additionally, you can contact us at 1-800-772-1213 (TTY 1-800-325-0778) or visit your local office if you wish to apply for disability benefits. When applying for benefits, you should be prepared to answer a number of questions including: Continue reading
Social Security is constantly evolving to make your life easier. If you are currently receiving benefits from the U.S. Department of Housing and Urban Development (HUD), and are reapplying for benefits, or are assisting someone with their application, a trip to the Social Security office is probably not necessary even if verification of Social Security benefits is needed. Continue reading
Enjoying a comfortable retirement is everyone’s dream. For over 80 years, Social Security has been helping people realize those dreams, assisting people through life’s journey with a variety of benefits. It’s up to you as to when you can start retirement benefits. You could start them a little earlier or wait until your “full retirement age.” There are benefits to either decision, pun intended. Continue reading
Throughout the month of February, we honor African Americans by celebrating Black History Month. Created in 1926, this event coincides with the birthdays of Abraham Lincoln on February 12 and Frederick Douglass on February 14. African American communities have celebrated these birthdays together for over a century. Continue reading
As we approach the new lunar year of the Rooster, we have a unique opportunity to alert our Asian American and Pacific Islander (AAPI) seniors about Social Security benefits and eligibility — like the rooster issues its daily morning call.
I believe that we as a society are judged by how we care for the least among us, especially our elderly. Continue reading