Social Security is federal government program that pays money to elderly or disabled Americans on a regular basis. When you’re working you pay Social Security taxes with the understanding that you will receive a Social Security benefit. In recent years there has been discussion in Congress and in the news about whether Social Security will have enough money to pay benefits going forward.
When retiring with a mortgage, you should really think about whether downsizing would make more financial sense. Q: I currently have 10 years left on my home mortgage of about $200,000 and I am 64 years old. I plan to …
Social Security garnishment. Can a creditor go to court to garnish your Social Security benefits? Can the Federal Government ever garnish your Social Security benefits? Can your bank allow your Social Security benefits to be garnished? How can you prevent that from happening?
Baby boomers expect more active retirement living that the generation before them. Baby boomers look at amenities available for use during retirement living. Boomers require for retirement living: social networking, volunteering and learning. As homeowners, Boomers also want home design that better fits their needs like larger kitchens, dual master suites and spare bedrooms. And even Boomers on a limited budget are looking for extra amenities for their retirement living.
When you’re calculating how much income you’ll need in retirement you should include not only your daily expenses but also health insurance costs. If you’re divorced you’ll want to include the money you’ll get from Social Security – either your own or that of your former spouse. In addition, you should take into account the costs related to owning and maintaining a home.
Medicare may use your social security number to identify you. This Medicare patient is frustrated that Medicare is using her Social Security number on mailings that are out in the open. It’s important to take action so Medicare understands the potential problems of using Social Security numbers so openly.
Consumers should protect themselves and their social security numbers from identity theft and credit fraud scams. Identity theft and credit fraud scams come in several different forms including emails. Consumers whose social security numbers or other personal information become subject to identity theft and credit fraud scams should immediately contact pull a copy of your credit history and request fraud alert be put on your accounts.
Will the government meet its Social Security obligations in the future? Does it make sense to change the social security system? One thing is clear — social security might not be around forever, so the sooner you start thinking about securing your own retirement, the better.
Getting your paycheck or Social Security check electronically through direct deposit has many benefits including safety. Hear the story of one senior who now receives her Social Security money electronically and really likes it. In addition, if all Social Security recipients received their cash directly into bank accounts it would save the federal government a lot of money in postage and printing expenses.
The latest trend in identity theft is to steal social security numbers and file a false tax return. Avoid identity theft and tax fraud by protecting your social security number and personal information.