Although Social Security's basic outlines have kept similar, the details will change frequently.

Benefit levels, income limitations, cost-of-living revisions, and more vary yearly. even if you are not getting benefits, you should pay attention to these changes.

Inflation has a significant impact on the annual adjustment in Social Security payments.

Observe the Inflation Rates

It is because the SSA adjusts recipient payments annually for inflation.

If not for COLA, Social Security beneficiaries' buying power could quickly diminished due to inflation.

SSA employs the CPI-W, a close relative of the CPI, to determine the COLA.

A few Social Security users presume benefits are paid every month on the first day.

Social Security pay day

But. the truth is it entirely depends on your birth date.

Payments will be made on the 2nd, 3rd, and 4th Wednesday of the Month ...

...for people whose birthdate falls between 1-10, 11-20, 21- to until the end of the month respectively. 

In 2021, the Agency for Social Security said its Funding will be depleted by 2033.

Social Security May last one more year than predicted

Social Security is mostly supported by payroll on existing workers, therefore this isn't as scary as it seems.

Social Security won't "run out of money" for at least a decade.

To retire with full Social Security, you must meet or exceed the salary base for 35 years.

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