Money

    SSA.gov - Social Security Fairness Act: Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) update (02/25/2025)   

Anyone else receive an email thanking them for purchasing over a grand in this? Says it's being charged to my PayPal account!

Hello, guys! Thanks for a wonderful podcast; I really love the Perfect Scam podcast. In this post I want to provide a bit of feedback, especially relevant for the "SIM Swapping: Scammers Hijack Smartphones and Steal Thousands" episode. Especially for this episode and also for the podcast in general, I feel like there are not enough details provided on how the scam operates. I feel like the podcast focuses more on what victims were feeling, what their emotional struggle was like (which is, of course, important) but not enough details are provided about how the scam operates. For the SIM Swapping, the host says that this victim had his phone number moved to a different eSIM and that this would not have been possible with a physical SIM. This is wrong, the telco can move numbers to other physical SIMs at free will. Next, after having the phone number moved to another SIM, the attackers gain access to the victim's bank account by means of controlling the SMSes arriving

I just had the weird experience of seeing two emails from Social Security in my "spam" folder. The first one titled "Help Us Slam the Scam" seemed legitimate so I clicked the "it's okay" button. The second email, titled "Unlock Insights: Your Enhanced Social Security Statement", also seemed okay at first glance. Then I saw it was actually from "info@jauntr.co".  Oops, no thanks! Then I kicked myself for accepting the first message. But it turned out to be legitimate. But I learned my lesson on that!  So, people, be careful out there! watch out for those scammers. Don't click any links in the emails (I "virtually" never do... not 100% but close to it).

FROM THE ARTICLE: 5 Steps for Tracking Down Old 401(k)s.A new federal database will make it easier to find your retirement funds from past jobs. By Patricia Amend and Andy Markowitz, AARP. Updated January 21, 2025. Have you changed jobs and left retirement accounts behind?“Forgetting about old 401(k)s, or even how much is in them, is more common that we would all like to think,” says Kashif Ahmed, president of American Private Wealth in Bedford, Massachusetts. “I recently had a client who forgot about an old 401(k). Once we uncovered it, it had more than triple what she thought it might contain.” USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/money/retirement/find-forgotten-401k-and-other-money/

It doesn't seem that processing times are extraordinarily long such that there is a systemic problem (there is a problem but this is not it). A few thoughts on this: 1 - This article at SSA indicates "You can apply for retirement benefits up to 4 months before you want to start receiving your benefits." https://www.ssa.gov/faqs/en/questions/KA-01891.html, So, no point in applying sooner, you'll just be waiting longer. 2 - I have read, and been told by SSA representatives over the phone, that while they may begin processing upon receipt of the application, it may not be completed until closer to the month that the benefit is to begin. So, you apply in January for benefits to begin in April (with first payment in May) you may see no activity on your application until sometime even in April. I have no documentation of this scheduling but it's what SSA rep's told me once or twice, so this is anecdotal. (And this was the case for me.) 3 - Per the SSA itself, "Percentage of pe

This story is akin to the Jonathan Roumie thread. But I wanted to post this separately to bring it more attention to show the scope these frauds can take. Last month it was reported that a French woman was scammed of the equivalent of $850,000 USD (I don't know you but to me that's starting to get into serious dough! lol). "Brad Pitt" was the perpetrator. In other words it was not Brad Pitt but a scammer. The victim was interviewed on television. Sadly, she was subsequently subject to a lot of harassment and belittling due to having fallen for the long-running scam. That's a doubly sad story.The victim was 53 and ran her own professional business. This shows that anyone might become a victim unless they are very careful. See https://www.bbc.com/news/articles/ckgnz8rw1xgo (or use a Google search, this was reported in January, 2025)

FROM THE ARTICLE: 5 Ways to Stretch the Social Security COLA.Try these tips if the 2025 adjustment isn’t keeping up with your costs. By Diane Harris, AARP. *** There are 13 Comments on the AARP website. Stop by to add yours. *** Published December 09, 2024. The 2.5 percent cost-of-living adjustment (COLA) for Social Security benefits, the smallest increase since 2021, is a double-edged sword.On one hand, it’s a sign that inflation has been tamed since reaching a 40-year high during the COVID-19 pandemic. That’s good news for consumers, retirees included. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/stretch-social-security-cola/

FROM THE ARTICLE: Retiring Abroad? Make Plans for Handling Your Money.What older expats need to know about banking, taxes and more. By Jon Marcus, AARP. Reviewed by Sophia Titley and Lief Simon, Live and Invest Overseas. Published January 31, 2025. Like many people nearing retirement, Lisa Hughes is thinking about moving somewhere new. But her prospects are a little unconventional.The 65-year-old widow is interested in retiring to Portugal, a popular destination for older Americans. But she’s also considering Romania, or possibly Albania, and has contacted expat groups in several countries. https://www.aarp.org/money/retirement/retiring-abroad-money-plans/

Opinion piece: "With Trump and Musk driving U.S. policy, Kansas farmers have been played for suckers"  

 I am having a big issue with  Lakewood SSA. I've been on disability for 35+ years and have never had any issues till I moved to Colorado. I need help and can't find anyone to advocate for me. In May of 2024 I went to pay my bills and found that I did not receive my benefits, so I went to SSA to find out why.I was told that they had seen me to nolonger be disable and closed my account. I pulled up my last disability review that said   I was done in 2019 which stated i was still disabled. Was told that was an old one. I then found out that they were sending mail to an old address under further checking SSA realized that they had my current address and didnt know why they were using an old one. So i thought nice we get this cleared up reinstate my benifits and go from their.;'Nope'. So i asked to fill out a request for reconsideration'. was told it wouldbe denied do to being past the 30 day window. how was i suppose to know that you were sending iit to a different add

Each of these have been proposed - no farther than just getting an SS actuarial analysis. I have not included the analysis of each but you can see them at link below.. SOME of these proposals will INCREASE the deficit where most of the others will DECREASE it. However, on the whole, the SS actuary has forecasted these proposals altogether would meet the goal. However, I am a bit concerned as to why we are adding the ones that would increase the long term deficit. I don’t think many, if any would affect any current beneficiary already receiving benefits.  I will have to re-review to make sure  Per the link:[ME] THIS IS WHERE WE ARE NOW:Under current law, 83 percent of scheduled benefits are projected to be payable on a timely basis in 2035 after depletion of the combined trust fund reserves, with the percentage payable declining to 73 percent for 2098. [ME] THIS WOULD BE AFTER THE ENACTMENT OF THESE 17 PROPOSALS: Under the proposal, the OASDI program would

FROM THE ARTICLE: New Administration Tells AARP Social Security Payments Are Protected.67 million Americans receive benefits that they have earned. By Andy Markowitz, AARP. Published February 12, 2025. As the new administration works to quickly implement the agenda President Donald Trump outlined on the campaign trail, some AARP members have raised questions about protecting Social Security and Medicare.Bill Sweeney, AARP’s senior vice president for government affairs, has been in regular contact with administration officials. Amid potentially sweeping changes in how the federal government operates, we asked Sweeney about what he’s hearing and how AARP is fighting to protect Social Security and Medicare and ensure that people 50-plus are heard. The conversation has been edited for length and clarity. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/social-security-payments-protected.html

Hi: My Mom moved into an assisted living facility last May. Does anyone have any information on estimating the amount of "medical expenses" one can deduct from income taxes for assisted living costs? All the information online I've seen say something like "part or all of your assisted living costs may qualify for the medical expense tax deduction".  When I asked the business director at the assisted living facility, they sent me a 2-page boilerplate document that said  "For residents requiring assistance with 2 or more activities of daily living in our Life Guidance Program, 100% of the fees paid ... could likely[my emphasis] be deductible for tax purposes."  My Mom does meet that requirement, and is paying a monthly supplement for an enhanced plan-of-care above the basic monthly cost for the apartment (the basic rent includes meals, cleaning, laundry, 24-hr access to medical staff, prescription management, free transportation to medical offices, etc..). &

I started a complaint against a mover broker who scammed me out of $1600. The following is the report that I sent to the Better Business Bureau:I reported the company, American Relocation and Storage, and the company refused to settle and I rejected their reasoning. The gentleman I spoke with, Steph, assured me that I was merely getting a quote and that I was not obligated to use American Relocation and Storage. I mention this because when I was asked to make a downpayment, I thought it was odd. Informed the representative that his was the very first quote I had sought and that I planned to shop around. I have not moved in 11 years and the previous move was a local move. Steph did not have a representative to send out to look at my possessions, he also merely made me list approximately what I wished to move. He did not ask me to conduct a video recording of the furniture and possessions in my apartment, so his quote was not based on a reasonable assessment of my property. Accordin

  Last nite on CNN, host Laurie Coates interviewed DAVID FAHRENTHOLD, INVESTIGATIVE REPORTER, NEW YORK TIMES on this. CNN 02/12/2025 - Laurie Coates interview (transcript) It is the very last interview of the nite so go to the end and scroll backwards until you see his name - DAVID FAHRENTHOLD, INVESTIGATIVE REPORTER, NEW YORK TIMES I have found these other articles on it also - MSN 02/11/2025 The ‘Limestone Mine’ Manually Processes Federal Retirement Paperwork Is Actually Real from the MSN link: “The issue isn’t necessarily the mine itself, but the fact that core steps in the way retirement papers are processed are still done manually, requiring paper printouts, actual signatures, and tens of thousands of file cabinets stuffed with manila folders.“.. . . Fahrenthold’s article describes in painstaking detail the multi-step procedures for intake, processing, and approval of retirement paperwork, which repeatedly uses real paper that has to be internally moved by the

FROM THE ARTICLE: Reduction in benefits projected by 2035 unless action is taken to shore up vital program. By Andy Markowitz, AARP. *** There are 93 Comments on the AARP website. Stop by to add yours. *** Published January 29, 2025. A large, bipartisan majority of Americans favors raising taxes to strengthen Social Security’s finances and avert a benefit cut in the next decade, according to a new AARP-funded survey from the National Academy of Social Insurance (NASI).Social Security’s trustees project that the program’s trust funds will run short in 2035, forcing a 17 percent across-the-board cut in benefit payments, unless Congress acts to shore up the system by increasing its revenue, reducing benefits or a combination of both. USE LINK BELOW TO READ ARTICLE: https://www.aarp.org/social-security/survey-raising-taxes/

FROM THE ARTICLE: Paychecks and retirement income escape state taxes if you live here. There are plenty of strategies to lower your tax bill, including contributing to retirement accounts, leveraging tax credits and maximizing itemized deductions. Or, if you’re really committed to paying less in taxes, you could move. In nine states, income isn’t taxed — allowing residents to hold onto more of their hard-earned dollars. For retirees, this means that pension payouts, retirement account withdrawals and Social Security benefits aren’t subject to state taxes. By Cameron Huddleston, AARP. *** There are 9 Comments so far on AARP website. Stop by to add yours. *** Published January 09, 2025. USE LINK BELOW TO READ ARTICLE: https://www.aarp.org/money/taxes/states-without-an-income-tax/ 

 Really interesting the places their heads are going -  January 3, 2025Steny Hoyer, Wendell PrimusEstimates of the Financial Effects on Social Security of potential legislation to improve the solvency of the Social Security Trust Funds, requested by Representative Steny Hoyer and Wendell Primus (PDF version)

 On 11/19/2024 I ordered a new Induction Oven from the Frigidaire website. They gave me a delivery date of 11/28/2024. Maybe they deliver on Thanksgiving? Well, it's now 12/5/2024 and they have given me a new delivery date of 12/24/2024. I told them if you were just honest up front and stated that you did not have any in stock I would have understood. But, no. 4 phone calls later and they are still pretending that the oven is eventually going to exist. I asked for compensation for the delay and they offered me $40.What a slap in the face. I had also ordered the air fry rack that goes with that oven; it was shipped right away. Please be warned!  These people are not straight shooters. I would not recommend them to anyone. Again, Please be warned! I am so upset. I am 68 years old turning 69 on Christmas; was buying this oven for my wife of 48 years; now all is lost. 

Here is the background:  I was laid off effective 9/15/2023 due to a company reorganization and my position was eliminated.  As part of the action the company paid me a severance in addition to bonuses and unpaid vacation plus my salary for nine months.  Needless to say my total income for 2023 was quite large.  Since i was already 67 in 2023 I decided to quit working and officially retire.  Effective 10/2023 the only income I have now is SSA benefits, my husband’s pension and any IRA (taxable) distributions I take.  I did not submit any request to lower IRMMA  for 2024 year since they were using 2022 income and I was ok paying the extra.  However, it is a different story for 2025 since they are using the 2023 income.  The extra IRMAA adds approx 500 each to my husband and I.  I am trying to fill out the form to lower IRMMA and need some help in filling it out correctly.  I went to the SSA office in December 2024 to get help but wa

    Thru the years, benefits for Social Security have increased in coverage but there has not been enough income coming in to cover these increases in coverage. EXAMPLE - Survivors benefits INCLUDING Divorced Widows -   If a person marries and divorces say 3-times and each of these marriages and the current one meets the eligibility for Survivors benefits, in essence, there could be as many as (4) widowed spouses (including the divorced spouses) could be drawing Survivors benefits.  And these are NOT limited by any Family Maximum - each of these widows - divorced and current - receive 100% of the Survivors benefits - NOT a portion of it. No wonder the Trust Fund is running out of money.  The math just does not work to me - but I’m all ears in receiving comments on this justification.  

Social Security Taxes to Change Under New Bill: Here's Who's Impacted

I'm reaching out to encourage everyone to contact their representatives and support President Trump's proposal to eliminate income taxes on Social Security benefits.Here's why this matters:Key Points to ConsiderCurrently, up to 85% of Social Security benefits can be subject to federal income tax1About 67 million U.S. households receive monthly Social Security benefit checks3The proposal would primarily help middle-income seniors who currently pay taxes on their benefitsAction StepsContact your local congressional representativesEmphasize support for Trump's plan to remove Social Security benefit taxationHighlight how this would provide financial relief for seniorsImportant CautionWhile the proposal sounds appealing, financial experts warn it could potentially harm the long-term sustainability of Social Security. The Congressional Budget Office estimates this tax cut could reduce Social Security revenue by approximately $950 billion between 2026-20353.Recommended Communication PointsExp

Why is it that the limits set in 1983 for the amount of additional income a Social Security recipient has earned is not tied in some fashion to COLA or economic inflation.  I can't quite make it on SSA benefit and have to supplement to the point that I consistently cross the $32,000 limit. It seems to me that limit should at least be $40K by now.  This should be a easy fix for our current President