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The last thing you want to do is get caught by surprise because of new rules or schedules.
If youre a Social Security recipient, here are five thingsyou should do now before 2024 ends.
The COLA is implemented nearly every year to help beneficiaries deal with inflation.
As a Social Security recipient, you should take time now to familiarize yourself with the 2025 payment schedule.
Heres a look at somekey dates to know:
For the full 2025 schedule, visitthis SSA page.
This is the age at which you areentitled to your full monthly paymentbased on your career earnings record.
The FRA for nearly all new applicants is either 66 or 67, depending on your birth year.
Visit the SSAsretirement age calculatorto find if youll reach full retirement age in 2025.
About 40% of Social Security beneficiaries pay federal income taxes on their benefits,according to the SSA.
This typically happens when you have outside provisional income such as wages, interest, investment returns and dividends.
That rises to $32,000 if youre married and filing a joint return.
For anything above those income levels, up to 85% of your benefits could be taxable.
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