Does Divorce Affect Social Security Spousal Benefits? More than 50 million Americans receive Social Security retirement benefits. Most of these recipients are retirees who worked and paid Social Security taxes. But millions of dependents and survivors of retired workers, including…
Millions of seniors nationwide are among those who rely on the financial support they receive each month via their Social Security benefits checks. However, many say that these payouts have failed to keep up with inflation and the escalating prices…
In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be more modest – just 3.2 percent, versus the nearly…
The Social Security Administration (SSA) website hosts a wealth of online tools that offer you convenient access to benefits information. To make the most of these tools, simply create a my Social Security account online. It is free to set up a…
If you are about to turn 70, congratulations on reaching a big milestone. And if you also have delayed claiming Social Security retirement benefits up till now, you are joining a select group — only 6.5 percent of Social Security…
Thank you to our friends at the National Academy of Elder Law Attorneys for sharing this article with us. The Social Security cost-of-living adjustment for 2022 could be 6% to 6.1%, according to the latest estimate from The Senior Citizens…
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year’s change. The small rise has advocates questioning whether the government is using the proper method to calculate the cost of living…
This is the last year that spouses who are turning full retirement age can choose whether to take spousal benefits or to take benefits on their own record. The strategy, used by some couples to maximize their benefits, will not…
In general, it is better to wait as long as possible before taking Social Security benefits, but sometimes it is necessary to start taking benefits early. However, if you are able to continue working while receiving benefits, you may be able to increase your overall benefit. For more information on how work affects Social Security call Strohschein Law Group. We help clients everyday plan for the future. (630) 377-3241
Strohschein Law Group hosts lunch and learns in-house every quarter. Coming up on Tuesday, October 20th Linda Strohschein will be presenting on this very topic “Social Security Benefits.” She will explain your options if you are teetering on taking benefits at the age of 62 or waiting until retirement age, as well as spousal benefits. Find out how to maximize your lifetime benefits.