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Here are three money moves you can consider that will possibly provide more financial stability in retirement and reduce your reliance on Social Security. 1. Max out your retirement savings
The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.
Social Security recipients could get an additional $2,400 a year in benefits if a new bill recently introduced to Congress wins approval -- something seniors would no doubt welcome as surging...
The states who do let the Social Security Administration manage their SSP (see section Apply for the State Supplement Program). Except from the states of Arizona, Mississippi, North Dakota, Northern Mariana Islands, and West Virginia; every state currently offers a state supplement to the federal SSI through the State Supplement Program.
Social Security was never intended to fund the full cost of retirement. On average, the benefit covers about 40% of a worker's preretirement earnings. And that figure could drop: Social Security ...
Working while collecting Social Security can make good sense for some seniors. Those who want to work part-time but still enjoy the retirement lifestyle may decide that Social Security is a good ...