This year, America Saves Week (ASW) runs from February 24 through 29. The week is an opportunity for organizations to promote good financial habits. It’s also a great time for people to assess their own saving status, as planning and saving are key to a successful retirement. Continue reading
Now that tax season is over, it’s probably a good time to evaluate some financial “best practices” for the rest of the year. A good spring-cleaning can clear out the clutter to let you see a clear path for your future. Social Security is always here to help. Even if you just started working, now is the time to start preparing for retirement. Achieving the dream of a secure, comfortable retirement is much easier with a strong financial plan. Continue reading
Marriage is a cultural institution that exists all over the world. Having a partner means sharing many things including a home and other property. Understanding how your future retirement might affect your spouse is important. When you’re planning for your fun and vibrant golden years, here are a few things to remember: Continue reading
The idea of applying for Social Security retirement benefits might seem daunting, but it’s not. There’s no need to visit an office. You don’t have to use the phone. We have an online retirement application that you can complete in as little as 15 minutes and from the comfort of your home or office. In most cases, once your application is submitted electronically, you’re done. There are no forms to sign and usually no documentation is required. Social Security will process your application and contact you if any further information is needed. Continue reading
Retirement doesn’t have the same meaning for everyone. Some people plan to retire and never work again. Some people plan for second careers in occupations that wouldn’t have adequately supported their families, but they do the work for pure enjoyment. Some people, whether by design or desire, choose to work part-time or seasonally to supplement their retirement income.
Retirees (or survivors) who choose to receive Social Security benefits before they reach full retirement age (FRA) and continue to work have an earnings limit. In 2017, the annual earnings limit was $16,920 for those under FRA the entire calendar year. In 2018, it is $17,040. If you earn over the limit, we deduct $1 from your Social Security monthly benefit payment for every $2 you earn above the annual limit. Continue reading
You made the choice and now you are happily retired. You filed online for your Social Security benefits. They arrive each month in the correct amount exactly as expected. But, did you ever wonder if your Social Security check could increase?
Once you begin receiving benefits, there are three common ways benefit checks can increase: a cost of living adjustment (COLA); additional work; or an adjustment at full retirement age if you received reduced benefits and exceeded the earnings limit. Continue reading
Is retirement knocking at your door? Social Security makes your journey into retirement nice and easy. Continue reading
The first thing you should remember is that Social Security replaces only a portion of your pre-retirement earnings. Most financial advisers say you will need about 70 percent of pre-retirement income to live comfortably in retirement, including your Social Security benefits, investments, and other savings. A solid retirement plan includes planning for more than Social Security. You can use Your Retirement Checklist to help you prepare.
When the time comes to take that giant step into retirement, Social Security’s online services can help guide you in this new journey. Use these services to help prepare yourself for a financially secure retirement: Continue reading
National Social Security Month is celebrated in April and is dedicated to educating you about Social Security programs and services. From programs that help support you through life’s journey, to services that help put you in control, to systems that help protect what’s important to you, Social Security is committed to helping secure today and tomorrow for you and your family. Continue reading
After you retire from your job or self-employment, you may get payments for work you did before you started receiving Social Security benefits. We call those “special payments.” Usually, special payments will not affect your Social Security benefit, if they are for work done before you retired. These payments will be counted in the last month you worked, unless the services can be shown to have been rendered in a prior period. Continue reading