The expected cost-of-living adjustment (COLA) for Social Security recipients is projected to fall short of adequately addressing the financial challenges faced by America’s senior population. According to Certified Financial Planner Matt Frankel, the latest COLA estimate from the Senior Citizens League, recently adjusted from 2.57% to 2.63%, does not sufficiently meet the needs of seniors. … Read more
Millions of Americans rely on Social Security benefits to cover essential expenses, manage inflation, and make ends meet. This month, over 71 million beneficiaries will receive their payments, including a 3.2% increase due to the Cost of Living Adjustment (COLA). COLA adjustments are based on inflation and are announced annually in October, with changes applied … Read more
A recent Colorado Court of Appeals ruling has the potential to reshape how Social Security benefits are treated in alimony calculations. This decision could have a significant impact on retirees and those receiving Social Security benefits, particularly when it comes to determining spousal support obligations. The ruling clarifies that Social Security benefits can be considered … Read more
This week, retirees will not receive their scheduled Social Security payments due to a change in the regular payment schedule. The Social Security Administration (SSA) has been managing various benefits programs, including payments to retirees, survivors, disabled persons, and Supplemental Security Income (SSI) recipients since 1935. While the SSA aims to adhere to a strict … Read more
Some Americans will receive two Social Security check payments this month due to a scheduling anomaly. Typically, the Social Security Administration (SSA) issues only one Supplemental Security Income (SSI) payment monthly, sent on the first of the month unless it falls on a weekend or holiday. This year, because September 1st is a Saturday, SSI … Read more