A recent article in The Washington Post highlights the impact that the bump in Social Security benefits coming in 2012 is going to have for many Americans who depend on the benefits. Most retirement beneficiaries will start getting an extra $39 a month come January. It may not seem to be a lot, but for those who depend on Social Security benefits, the extra money is welcome, particularly after a two year wait for increases.
A 71-year-old Miami, Florida woman continues to work at a preschool after facing financial difficulties stemming from a divorce and an empty 401k account. She told reporters, “I don’t have anything to look forward to until that check every month.” The extra money will help her live a little better, she said. She cut her cable plan, limits her phone usage and keeps the air conditioner off, but still has financial troubles due to rising grocery bills and insurance rates.
A retired executive and his retired computer programmer wife are happy that the extra money will enable them to go out and enjoy a meal without worrying about the extra expenses. The man told the Post that “Even for us rock-red Republicans, this is one of the government programs that we would hurt very badly if it were not available to us.”
Supplemental Security Income (“SSI”) benefits are set to rise about $18 a month in January. A Tulsa SSI lawyer is available to answer questions about eligibility for the forthcoming changes. Would the cost of living increase make a major difference in your day-to-day living?
Troutman & Troutman, P.C. – Tulsa Social Security disability attorneys