Social Security

How do I replace my Social Security card?

 
How do I replace my Social Security card?Chances are, you probably have your Social Security number memorized, so you may not have had to use your card in awhile. However, there are times when you may be required to show your actual card, such as when you start a new job or need to access certain government services. Fortunately, replacing a lost or stolen card is a relatively easy process.
 
In order to obtain a new card, you need to prove your citizenship or lawful noncitizen status, and your age and identity from a list of approved documentation (e.g., U.S. passport, driver’s license, birth certificate). All documentation provided must be either original or in certified form (notarized copies or photocopies will not be accepted). Continue reading

Quiz: Social Security Survivor Benefits

 
Quiz Social Security Survivor BenefitsDid you know that Social Security may pay benefits to your eligible family members when you die, helping to make their financial life easier? Take this quiz to learn more.
 
Questions
 
1. What percentage of Social Security beneficiaries receive survivor benefits?
a. 5%
b. 10
c. 15% Continue reading

Working in Retirement: What You Need to Know

 

Working in Retirement: What You Need to KnowPlanning on working during retirement? If so, you’re not alone. Recent studies have consistently shown that a majority of retirees plan to work at least some period of time during their retirement years. Here are some points to consider.

 

Why work during retirement?

 

Obviously, if you work during retirement, you’ll be earning money and relying less on your retirement savings, leaving more to grow for the future. You may also have access to affordable health care, as more and more employers offer this important benefit to part-time employees. But there are also non-economic reasons for working during retirement. Many retirees work for personal fulfillment, to stay mentally and physically active, to enjoy the social benefits of working, and to try their hand at something new.

 

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Think Twice Before Counting on a COLA

 
Think Twice Before Counting on a COLAThe rising costs of food, gas, electricity, and health care can strain anyone’s budget. The situation is even worse if your living expenses increase while your income stays the same, because your purchasing power will steadily decline over time. That’s why cost-of-living adjustments, or COLAs, are especially valuable to retirees and others living on fixed incomes.

 
A COLA is an increase in regular income you receive (such as a Social Security or pension benefit) that is meant to offset rising prices. It’s important protection because price inflation has occurred in most years during the last 40 years. However, a COLA may not be payable in years when inflation slows or declines.

 

How COLAs work

 
It’s easy to think of a COLA as a “raise,” but a COLA is meant to help you maintain your standard of living, not improve it. For example, let’s say you receive a $2,000 monthly retirement benefit, and the overall cost of the things you need to purchase increases by 3% during the year. The next year, you receive a 3% COLA, or an extra $60 a month, to help you manage rising prices.

 
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How can I protect my Social Security number from identity theft?

 
How can I protect my Social Security number from identity theft?Your Social Security number is one of your most important personal identifiers. If identity thieves obtain your Social Security number, they can access your bank account, file false tax returns, and wreak havoc on your credit report. Here are some steps you can take to help safeguard your number.
 

Never carry your card with you.

 
You should never carry your Social Security card with you unless it’s absolutely necessary. The same goes for other forms of identification that may display your Social Security number (e.g., Medicare card)
 
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