Social Security is one of the most (let’s not get into a debate over it now, that’s not the point) important social programs in our country. In fact, as of August of this year, 61.5 million Americans receive Social Security benefits. 42 million of those esteemed individuals are retired workers.
Now, 62% of said workers count on their monthly check from the Social Security Administration. They count on it so much that it makes up at least half of their monthly income!
Come 2018, Social Security will look a little different. In October, the Social Security Administration announced these annual changes… and there are seven big changes ahead.
- Social Security beneficiaries are getting a raise
- The maximum monthly payout rose quite a bit
- Wealthy Americans will owe a little bit more in 2018
- Full retirement age is goin’ up.
- Withholding thresholds for early filers are also goin’ up.
- Disability income thresholds inch higher
- Qualifying for Social Security got incrementally harder
To learn more, read the original USA Today article here: Social Security: 7 guideline changes coming in 2018