Do You Know About These Changes to Social Security?

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changes to social security
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Staying on top of all the adjustments to Social Security can be difficult. A different COLA every year, new legislation, and rising inflation can all impact your benefits. According to The Motley Fool, there are a few changes to Social Security that every retiree should know.

You might need to adjust your spending or saving as a result of these three changes:

  • Rising inflation – Seniors who continue working could find that they are unintentionally earning past the point of needing to pay taxes on their benefits
  • Low COLAs – Cost-of-living adjustments don’t always reflect the spending needs of seniors
  • Changes to full retirement age – Discover your full retirement age so your benefits aren’t reduced

One way to keep up with Social Security and retirement news? Follow NORA on Facebook and Twitter today. Our updates cover the latest news for American seniors as well as important information on the legislation we’re working to pass. If you haven’t already, sign our petition to pass The Guaranteed 3% COLA for Seniors Act. Then, share it with your friends and family. This act would make it easier for all Americans to plan for the future–and at NORA, helping retirees is our goal.