Social Security’s cost of living adjustment (COLA) for 2025 is 2.5% adding $49 to the average monthly check. While this increase is modest it’s still helpful for some seniors. However a special group of Social Security recipients could see an extra benefit increase this year. thanks to changes in the Social Security Benefits for Workers … Read more
President Donald Trump has recently proposed a bold plan to ban taxes on Social Security benefits which has sparked a lot of discussions. The idea sounds good especially to retirees who depend on Social Security benefits for their income but it raises some important questions. Would Trump’s plan to ban taxes on Social Security truly … Read more
The Trump’s White House Orders has implemented a sweeping Freeze on Federal Aid and Grants stirring significant concerns among various organizations and communities. This decision communicated through a memorandum from the Office of Management and Budget (OMB) marks a pivotal shift in federal funding policies. The directive has broad implications with the potential to disrupt … Read more
3 groups of retirees will not get Social Security payments on February 3, 2025 if you are one of them don’t worry you won’t have to wait long for your next payment. Social Security’s payment schedule is based on birth dates and the date you will receive your payment depends on when you were born. … Read more
Inherited IRAs in 2025 could bring unexpected tax consequences if beneficiary do not plan carefully. Starting in 2025 beneficiary with Individual Retirement Accounts (IRAs) face new rules that could result in penalties for missed required withdrawals. The IRS has finalized guidance enforcing annual required minimum distributions (RMDs) for certain beneficiaries making it crucial to understand … Read more
Social Security Benefits Under Trump has raised concerns about potential cuts with some of his proposals possibly affecting the program’s finances. But does this mean you should claim your benefits early to avoid possible reductions? Let us dive into what you need to know. The Financial Outlook for Social Security Social Security is not disappearing … Read more
https://www.ssa.gov/disabilityThe Social Security Administration (SSA) plays a crucial role in managing essential programs like the Supplemental Security Income (SSI) and the Social Security Disability Insurance (SSDI). SSDI is a lifeline for those who have contributed to the system through taxes and have met the required work history but the understanding the variation of the program … Read more
USAA to Pay $64.2 Million in Settlement to resolve a class action lawsuit involving military customers who were charged excessive fees and interest rates. The bank known for its services to military families has agreed to compensate over 210,000 eligible members for these violations of the Servicemembers Civil Relief Act (SCRA). Though USAA denies any … Read more
For SSI and Social Security Payments February 2025 payments are set to arrive earlier than usual with some important dates to note. These payments provide vital financial support to over 72 million Americans including the elderly, blind and disabled, who rely on them to meet daily needs. Since February 1 falls on a Saturday the … Read more
The Social Security Boost for Teachers and Public Workers is vital for managing expenses in an ever rising world. The United States government has introduced much needed financial relief to struggling and low income citizens. President Biden has passed a new law to help citizens working in public sectors and teachers receive full benefits from … Read more