Key Takeaway: Earnings can affect Social Security payments in retirement, disability, and survivor benefits. For retirement benefits, earning over a certain threshold can lead to a reduction in benefits. However, this reduction is temporary and the benefits will be recalculated at full retirement age. For disability benefits, earning above the substantial gainful activity level can…
Key Takeaway: Social security checks are paid out on a monthly basis to eligible beneficiaries, including retirees, disabled individuals, and survivors. The frequency of social security checks is dependent on the type of benefit received and the payment date assigned by social security. Monthly benefits are the most common, while annual and lump sum benefits…
Key Takeaway: Notch Baby Social Security is a term used to describe a specific group of individuals born between 1917 and 1926 who received lower retirement benefits due to a calculation error in the benefit formula. Eligibility for Notch Baby Social Security depends on age and work history. Individuals must have worked for at least…
Key Takeaways: IRA distributions can reduce social security benefits: Depending on the amount and timing of IRA distributions, social security benefits can be reduced or even eliminated. It is important to carefully plan and coordinate IRA withdrawals to maximize both retirement income and social security benefits. IRA distributions may increase taxation on social security benefits:…
Key Takeaway: There is no limit to the number of Social Security cards you can get, but it is recommended to have only one to avoid confusion and potential fraud. You are only eligible to apply for additional Social Security cards if you have a valid reason, such as a legal name change, document correction,…
Key Takeaway: Checking your credit reports is a good way to find out if your social security number is on the dark web as some identity theft activities can appear on your credit report. Identity theft protection services can monitor your personal information for any suspicious activity, alert you of any potential breaches, and aid…
Key Takeaway: DHS authorization with Social Security is a process that allows non-citizens to work legally in the United States by obtaining an Employment Authorization Document (EAD) from the Department of Homeland Security (DHS). DHS authorization is required for non-citizens who want to work legally in the United States and who are not eligible for…
Key Takeaway: To claim extra Social Security benefits, you need to meet certain eligibility requirements such as age, disability, or being a surviving spouse. These benefits may include Supplemental Security Income (SSI), spousal benefits, or survivor benefits. It’s important to understand the definition of “extra” Social Security benefits and to explore different examples of what…
Key Takeaway: Western Union asks for your Social Security Number to prevent fraudulent transactions by meeting government regulations and protecting customers. Verifying your identity with a Social Security Number ensures accurate transaction processing and helps Western Union comply with anti-money laundering laws. Providing your Social Security Number is required when sending or receiving money with…
Key Takeaways: Proof of identity, proof of age, and proof of citizenship or immigration status are required to apply for a Social Security card. These documents may include a birth certificate, passport, or immigration document. The application process for a Social Security card involves filling out the SS-5 form and submitting it with the required…
Key Takeaway: The Ticket to Work program is a free employment program for Social Security beneficiaries with disabilities, designed to help them achieve financial independence and self-sufficiency. Eligible participants can receive vocational rehabilitation services, health insurance benefits, and financial incentives such as extended medical coverage and a trial work period without loss of benefits. To…
Key Takeaways: Eligibility for social security benefits depends on the number of work credits earned throughout a person’s career. Generally, a person must have earned 40 work credits to qualify for benefits, which is equivalent to 10 years of work. The minimum age requirement to receive social security benefits is 62 years old. However, taking…