In a time when the cost of living seems to be perpetually on the rise, retirees and Social Security beneficiaries have been eagerly awaiting the announcement of the Social Security cost-of-living adjustment (COLA) for 2024. The recent update has revealed a 3.2% increase in benefits, offering some relief to those who depend on this critical…
The Social Security Administration (SSA) provides benefits to their beneficiaries beyond their own life. When you pass away, your family may be able to qualify for benefits from the Social Security Administration. Depending upon the circumstances, your surviving spouse and minor children may be entitled to receive monthly payments. Your dependent parents and siblings may…
 Claiming Social Security early can provide additional income for people who are in need of extra money at a younger age. However, there are drawbacks: 1. Taking Social Security benefits early will result in lower monthly payments and therefore a lower overall lifetime benefit than if you wait until full retirement age (67). 2. There…