Tag Archives: Social Security

How Can I Protect Myself From Social Security Scams?

Did you know that Social Security scams are the number one type of fraud reported to the Federal Trade Commission? These scams often mislead seniors into believing that they need to make cash or gift card payments. They prey on fears that they must make these payments to avoid arrest for Social Security related issues. To avoid becoming a victim of Social Security scams, it is important to understand how these scams work. It is also important to understand what Social Security employees will and will not do when contacting you. How Social Security Scams Work Social Security scams work well because they use fear tactics to convince seniors to take action. These scam artists often call and state that they suspended the Social Security number pending legal action. They then bait individuals into submitting payments to avoid arrest or legal action. According to the Federal Trade Commission, Social Security…
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Here Are Three Social Security Mistakes That Can Cost You Financially

Social Security will be an important benefit of your retirement plans as a typical American, and it will most likely be a huge part of your income. Many Americans, however, don’t fully understand how these benefits work and what the program does for you. For Americans who go into this process unaware, you could fall into some pretty common financial traps that could permanently reduce your income later on. 3 Mistakes You Want to Avoid When Becoming a Social Security Recipient Claiming benefits before you know how they work. If you don’t fully understand the factors that could impact your Social Security income, you could most likely make poor decisions when attempting to claim benefits. You should fully know how your age, work history, and marital status will affect your benefits during the claim process. For example, retiring before full retirement age (FRA) will reduce your monthly income. If you…
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Are My Social Security Checks Expected to Increase in 2019?

The Social Security Administration recently stated that payments to Social Security and Supplemental Security Income beneficiaries are set to increase for next year. Specifically, the payments are expected to rise 2.8 percent. Why Are My Social Security Checks Increasing? This payment increase is due to an automatic cost-of-living adjustment, also known as COLA. COLA is based on low inflation and dictated by law. It takes effect on December 31 for the country’s 8 million SSI recipients. The COLA is based on the Consumer Price Index for urban wage earners and clerical workers, or CPI-W. This measures different price changes for food, clothing, transportation, housing, medical care, energy, education and recreation. Low-income disabled and elderly people that receive Supplemental Security Income also receive a COLA. In addition to retirees, other Social Security beneficiaries include disabled employees and surviving children and spouses. If you receive SSI, the maximum federal payment will increase…
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