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Answers about the $250 Social Security recovery (stimulus) payment for 2009

The American Recovery and Reinvestment Act provides for a one-time payment of $250 to Social Security and Supplemental Security Income, or (SSI) beneficiaries, as well as those who receive Railroad Retirement and Veterans benefits.

Here are answers to questions about this payment.

Q. Who will receive a one-time economic recovery payment from Social Security?

How to increase your Social Security retirement benefits after you started receiving them

This outlines an article which outlines how to rescind an earlier decision to take lower Social Security retirement benefits. By rescinding your decision to take early benefits, you can increase your retirement benefits -- but only after you pay back all your previous retirement benefits!

Note that we cover this same concept in this video.

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When to take Social Security Retirement Benefits - Wife early, Husband late

This video discusses when to take Social Security Retirement Benefits for the common case where a husband had higher earnings than the wife.

The strategy discussed here is to have the wife take reduced benefits early, while having the husband delay his receipt of retirement benefits.

The key here is that when the husband passes away first (a common occurrence), the wife will see a step up from her reduced benefits to her spouse's higher benefit level.

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Want to increase Social Security retirement benefits after you've started to receive benefits? Go ahead!

This video shows how to increase your retirement benefits even after you've decided to take payments.

Let's say you took early (reduced) Social Security retirement benefits starting at age 62. Now you want higher benefits. Can you get it? Sure! Just file Form 521 - Request for Withdrawal of Application.

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Social Security Benefit Calculator from Heritage Foundation

This is an interesting short video which shows a rate of return calculator which compares your return on your Social Security taxes with what you might expect if you retained the taxes and invested the money in a stock and bond portfolio.

The calculator is at http://heritage.org/socialsecurity

Compare this with our Social Security Benefit Calculator.

Categories: 
Content Types: 

When to take Social Security Retirement Benefits - Wife early, Husband late

This video discusses when to take Social Security Retirement Benefits for the common case where a husband had higher earnings than the wife.

The strategy discussed here is to have the wife take reduced benefits early, while having the husband delay his receipt of retirement benefits.

The key here is that when the husband passes away first (a common occurrence), the wife will see a step up from her reduced benefits to her spouse's higher benefit level.

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Equifax to Offer Free "Credit Freeze" Service After Security Breach

After the massive security leak of 143 million Social Security numbers at credit reporting agency Equifax, the company has announced that it will not charge for "credit freeze" requests for the next 30 days.

Here's where you can sign up for a credit freeze at the big three reporting agencies :

https://www.freeze.equifax.com/Freeze/jsp/SFF_PersonalIDInfo.jsp

Do Not Click on Links in Emails from "Equifax"

If you receive an email from "Equifax", be very careful about clicking any links in the email. It could be a phishing attack.

As a result of the recent Equifax leak of 143 million Social Security numbers, criminals see the leak as an excuse to tempt people into clicking on "helpful" links from Equifax.

Be very careful about clicking links in emails that you receive.

Fast Facts About Social Security - 2017

Fast Facts About Social Security - 2017 Edition

* 66 million Americans receive Social Security benefits

* 5.5 million new Social Security beneficiaries in 2016

* 62 percent of aged beneficiaries received at least half their income from Social Security

* 54.2 is average age for Social Security disability beneficiaries

https://www.ssa.gov/policy/docs/chartbooks/fast_facts/2017/fast_facts17.pdf


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