Sorry to hear that, it is a common issue. When COLA increases benefits, it can sometimes lead to higher expenses like rent or other costs tied to income adjustments. The COLA is designed to help offset inflation, but it doesn’t usually cover everything enough.
Thanks! We’ll try to add updates about SNAP/EBT notices in the future. For now, keep an eye on your mail or online account for any updates from your state’s SNAP office as they usually send notices about changes for the new year around this time. Let us know if there’s anything else you’d like to see covered!
I am on SSDI and have a mental disability. I cannot work or my benefits will be taken away. My question is, am I aloud to do the stock market? Will that take away my benefits?
Good question! Generally, being on SSDI doesn’t mean you can’t invest in the stock market since SSDI is based on your work history and disability status, not financial resources. Income from stocks, like dividends or capital gains, usually doesn’t affect your SSDI benefits. However, if you’re receiving SSI in addition to SSDI, things get trickier since SSI has strict income and asset limits. It’s best to consult with a financial advisor or contact the SSA directly to make sure stock market activity won’t impact your specific benefits situation.
He didn't say he was receiving SSI. He receives SSDI. Some only receive one payment. You don't always receive both SSI and SSDI. You should contact SSA, possibly record the information or have a representative, and legal assistance!
@@evelyntaylor4470 You’re absolutely right-if someone is only receiving SSDI, income or assets like investments typically don’t impact benefits. SSI is where strict financial limits apply, so it’s important to clarify the type of benefits being received. Contacting the SSA directly is the best way to get accurate info for individual situations, and keeping a record of the conversation is always a smart move. Thanks for pointing that out!
@@moneyinstructorQuestion: doesn't Any income that puts a beneficiary Over the $2k limit, start a benefit Decrease? If a beneficiary earns $2k or over, I thought one's benefits would then be garnished to keep you at $2k. You Cannot have over $2k in assets on Any SSA benefit can you?
@@e.1766 Great question! The $2,000 asset limit applies specifically to SSI (Supplemental Security Income), which is needs-based and has strict financial rules. Having over $2,000 in countable assets can impact SSI eligibility. However, SSDI (Social Security Disability Insurance) is based on your work history and disability status, so there’s generally no asset limit for SSDI, and your benefits wouldn’t be reduced because of savings or investments. That said, earnings from work could affect SSDI if they exceed the limit. To avoid confusion, it’s always a good idea to contact the SSA directly for personalized guidance on how these rules apply to your specific benefits.
Yes, retirees who started receiving Social Security benefits after May 1997 will get their December payments according to their birth date. Additionally, everyone will receive a COLA notice in December, detailing their benefit increase for 2025.
I’ve heard people say that they are grateful for the cola raise, it’s better than no cola raise, but some people have noticed that, when social security gets a raise, everything goes up…rent,food, etc….
There is no set aside and save. Nothing left to save! This new payment schedule will be a burden. What was wrong with the old pay schedule since bills are due the first part of the month!! 😡
I'm ecstatic with the outcome of the election and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with a 100K right now? My goal is to position myself for a prosperous Q1 in 2025.
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10% Remember to always work with a knowledgeable person in the financial market when starting out to avoid getting burnt.
“DCA" is the golden term but the key. My dollar portfolio i DCA with is made up of 30% PLTR, 25% NVDA, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends. Q3 taxable divs this year was $18,388.
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right i got the cola last year & my rent increased.
Sorry to hear that, it is a common issue. When COLA increases benefits, it can sometimes lead to higher expenses like rent or other costs tied to income adjustments. The COLA is designed to help offset inflation, but it doesn’t usually cover everything enough.
😮I am disabled and needed about the about that and I thanks you❤
Thank you. I was worried about any negative changes this year.
If you can, add some news about snap/EBT notices?
Thanks! We’ll try to add updates about SNAP/EBT notices in the future. For now, keep an eye on your mail or online account for any updates from your state’s SNAP office as they usually send notices about changes for the new year around this time. Let us know if there’s anything else you’d like to see covered!
They keep screwing us elderly over. I barely get enough to make it through the month.
You are not alone. The struggle is real.
Thank you for the info because I was wondering about the increase and in medical.
I am on SSDI and have a mental disability. I cannot work or my benefits will be taken away. My question is, am I aloud to do the stock market? Will that take away my benefits?
Good question! Generally, being on SSDI doesn’t mean you can’t invest in the stock market since SSDI is based on your work history and disability status, not financial resources. Income from stocks, like dividends or capital gains, usually doesn’t affect your SSDI benefits. However, if you’re receiving SSI in addition to SSDI, things get trickier since SSI has strict income and asset limits. It’s best to consult with a financial advisor or contact the SSA directly to make sure stock market activity won’t impact your specific benefits situation.
He didn't say he was receiving SSI. He receives SSDI. Some only receive one payment. You don't always receive both SSI and SSDI. You should contact SSA, possibly record the information or have a representative, and legal assistance!
@@evelyntaylor4470 You’re absolutely right-if someone is only receiving SSDI, income or assets like investments typically don’t impact benefits. SSI is where strict financial limits apply, so it’s important to clarify the type of benefits being received. Contacting the SSA directly is the best way to get accurate info for individual situations, and keeping a record of the conversation is always a smart move. Thanks for pointing that out!
@@moneyinstructorQuestion: doesn't Any income that puts a beneficiary Over the $2k limit, start a benefit Decrease? If a beneficiary earns $2k or over, I thought one's benefits would then be garnished to keep you at $2k. You Cannot have over $2k in assets on Any SSA benefit can you?
@@e.1766 Great question! The $2,000 asset limit applies specifically to SSI (Supplemental Security Income), which is needs-based and has strict financial rules. Having over $2,000 in countable assets can impact SSI eligibility. However, SSDI (Social Security Disability Insurance) is based on your work history and disability status, so there’s generally no asset limit for SSDI, and your benefits wouldn’t be reduced because of savings or investments. That said, earnings from work could affect SSDI if they exceed the limit. To avoid confusion, it’s always a good idea to contact the SSA directly for personalized guidance on how these rules apply to your specific benefits.
Nothing has changed.
Will retires get Get something that start receiving after 97
Yes, retirees who started receiving Social Security benefits after May 1997 will get their December payments according to their birth date. Additionally, everyone will receive a COLA notice in December, detailing their benefit increase for 2025.
Thank you for this information it was very helpful 😊
Glad it was helpful!
I’ve heard people say that they are grateful for the cola raise, it’s better than no cola raise, but some people have noticed that, when social security gets a raise, everything goes up…rent,food, etc….
There is no set aside and save. Nothing left to save! This new payment schedule will be a burden. What was wrong with the old pay schedule since bills are due the first part of the month!! 😡
Rent is due on the 5th each month. After its paid, there's $17 left. This new pay schedule will make rent past due every month
There's no way to save money when you're on social security believe me
My birthday is September 2,1954 never even get it…true
🤔
Scam !!! I am Deaf. I am senior citizen and small amount….Oh Please…. I am Retired too and still small amount huh
I'm ecstatic with the outcome of the election and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with a 100K right now? My goal is to position myself for a prosperous Q1 in 2025.
Bitcoin through 2025, then high yield ETFs through the bear market 26’-27’ that's my plan.
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10% Remember to always work with a knowledgeable person in the financial market when starting out to avoid getting burnt.
“DCA" is the golden term but the key. My dollar portfolio i DCA with is made up of 30% PLTR, 25% NVDA, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends. Q3 taxable divs this year was $18,388.