6. Higher earnings test
If you are still working after you have filled out your Social Security benefits, then you might want to hear about this. The Social Security changes coming this year will also bring earnings tests that are based on your current income.
The SSA reports that this year, the earnings excluded from the retirement earnings test will increase to $22,320 from $21,240 in 2023. These tests are made to help your earnings adjust better to the current economic landscape, and considering inflation, this is a much-needed change.
In case you want to know even more details about the higher earnings, we are here to help. So, benefits withhold $1 for each $2 beyond the above-mentioned cap in earnings. But these rules will no longer apply once you reach retirement age. Imagine it as a tool that helps you adjust as you transition to a new phase of your life.
Every year comes with changes, but it is easy to notice that the Social Security changes coming this year are for the better. Almost all of them are increases in benefits, and this is particularly good considering our current economy.
What do you think about these Social Security changes coming this year? Tell us your thoughts in the comments section.
If you want to learn more about Social Security, this book might help you: Social Security For Dummies
You should also read: Medicare Open Enrollment: 8 Things You Should Know
Given the impendiding SS crisis, why are monthly pensions for ex wives are still active even who have remarried 1 or 2 more times, still in place?
VERIFY: Did Joe Biden vote to tax social security benefits twice during his Senate career?
The Verify Team was sent an email, in which a viewer claimed that Joe Biden voted to tax social security benefits two times in his career. This is true.
How about over $2,348. What do I get????????
I’m sorry but this article is old news. I want to know what is going to happen in 2025.
If you are worried about your SS BENEFITS BEING TAXED BY STATE AND LOCAL GOVERNMENTS YOU BETTER VOTE FOR TRUMP. He has mentioned many times that he will end taxation of those benefits in office AND LOWER THE INFLATION RATES. If you don’t understand what oil prices have to do with inflation, let me give you a hint.
Oil as you know makes gas and diesel fuel that powers delivery of everything in everyday life. BUT, do you know it is also used in farming as fertilizer for food production, plastics for food packaging, manufacturing of just about anything in todays needs, including syringes for your meds and some clothing.
In this country we have more oil and shale oil than anywhere in the world yet these idiots in government cater to the far left and want to keep oil production down.
They drained the strategic oil reserves which is for National defense just to lower oil prices for a couple days so it looks like they are doing something. My costs of my products I sell have gone up 115%. I had to raise up my sales prices 120%. VOTE FOR TRUMP OTHERWISE THE LITTLE MONEY YOUR COMPLAINING ABOUT NOW WILL BE 10 times worst under K Harris the liar in chief. I live in California and she has destroyed this state and San Francisco with her ignorant policies. Most Californians will agree except those that would vote for her because she is Black or a woman. Do you really want those characteristics to be your deciding vote or do you want our borders closed, low inflation and a strong military and police dept. The choice is yours. Vote early don’t let anyone else fill out your ballot.