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Who gets their Social Security check on Sept. 9?

Who gets their Social Security check on Sept. 9?

Millions of Social Security beneficiaries will receive September payments starting Sept. 9. Here's who gets a check and when.
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Social Security Recipient Faces $35,000 Repayment Demand for Overpayment

Social Security Recipient Faces $35,000 Repayment Demand for Overpayment

A Social Security recipient in her mid-70s has been issued a demand by the Social Security Administration (SSA) to repay $35,000 due to overpayments received over four years. The woman, who remains anonymous, was notified last month and given 30 days to repay the full balance. Failure to comply would result in a 50% reduction of her monthly benefits for the next two years, starting in December, leaving her with approximately $1,350 per month. The issue came to her attention in February when her monthly benefit check was abruptly cut by about $600, reducing it to roughly $2,700 after deductions. According to CBS News, which reviewed the SSA's letter, the agency stated the cut was 'to correct [her] benefit amount' without further explanation. The SSA sends overpayment notices to around two million people annually across its various benefit programs, often due to missing or incorrect information provided by beneficiaries regarding life changes such as work ability, residence, marital status, or income.
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Land Sale Structure Impacts Medicare Premiums and Social Security Taxation for Retiree

Land Sale Structure Impacts Medicare Premiums and Social Security Taxation for Retiree

A retired man in his late sixties, who sold rural land to a data center developer for a seven-figure sum, opted to receive payments over several years instead of a single lump sum. This decision, made at the negotiating table, was intended to spread out the capital gain for tax purposes. However, two years after the closing, a billing notice revealed that this choice had a delayed impact on his Medicare premiums. The income-related monthly adjustment amount (IRMAA) for Medicare Part B and prescription-drug coverage is based on modified adjusted gross income (MAGI) from two years prior. Consequently, a large gain recognized in 2026 could affect Medicare premiums in 2028. This scenario highlights how a seemingly beneficial financial decision to defer income can have unforeseen consequences on retirement benefits, specifically Medicare costs and the federal taxation of Social Security benefits.
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For its economic woes, Gen X still blames the Great Recession

For its economic woes, Gen X still blames the Great Recession

For its current financial worries, Generation X blames inflation. And the COVID-19 pandemic. And the Great Recession. And the dot-com bubble.
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High-Yield Dividend Investors Face Significant Tax Disadvantage in Taxable Accounts

High-Yield Dividend Investors Face Significant Tax Disadvantage in Taxable Accounts

High-Yield Dividend Investors Face Significant Tax Disadvantage in Taxable Accounts
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IRS Section 1031 Exchanges Allow Indefinite Capital Gains Deferral on Investment Properties

IRS Section 1031 Exchanges Allow Indefinite Capital Gains Deferral on Investment Properties

IRS Section 1031 Exchanges Allow Indefinite Capital Gains Deferral on Investment Properties
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Retirement Withdrawal Strategies Impact Medicare Surcharges and RMDs

Retirement Withdrawal Strategies Impact Medicare Surcharges and RMDs

Retirement Withdrawal Strategies Impact Medicare Surcharges and RMDs
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Maryland Residents Underestimate Retirement Savings Needs, Lagging National Averages

Maryland Residents Underestimate Retirement Savings Needs, Lagging National Averages

Maryland Residents Underestimate Retirement Savings Needs, Lagging National Averages
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Jean Chatzky Advocates for Annuities as a Retirement Income Solution

Jean Chatzky Advocates for Annuities as a Retirement Income Solution

Jean Chatzky Advocates for Annuities as a Retirement Income Solution
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Medicare Enrollment at 65 Offers Significant Financial Relief, Reducing Key Household Expenses

Medicare Enrollment at 65 Offers Significant Financial Relief, Reducing Key Household Expenses

Turning 65 in the U.S. marks a significant financial turning point for many, primarily due to eligibility for Medicare. This transition often leads to a dramatic reduction or elimination of several major household expenses. Health insurance premiums, which averaged $149 per month for employee-only coverage in 2024, can drop to $0 for Medicare Part A, with Part B costing a minimum of $202.90. For individuals previously covering family plans, savings can exceed $1,000 per month. Beyond health insurance, commuting costs, such as gas, maintenance, and tolls, largely disappear for retirees. U.S. households spent an average of $13,318 on transportation in 2024, a significant portion of which is eliminated post-retirement. Additionally, the cessation of retirement account contributions, which can be up to $7,500 per person for IRAs or $24,500 for 401(k)s, frees up substantial annual income. Property taxes, while not vanishing entirely, often see substantial reductions through senior homestead exemptions offered b...
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Social Security Administration Urged to Modernize Data-Matching Systems to Prevent Improper Payments

Social Security Administration Urged to Modernize Data-Matching Systems to Prevent Improper Payments

A recent report from the Social Security Administration (SSA) Office of the Inspector General (OIG) indicates that the SSA could significantly enhance its program administration by updating its data-matching systems. The report specifically recommends improving the criteria used in the Numident verification systems. These systems are crucial for verifying data received from over 3,400 external parties, including prisons, the Internal Revenue Service, and state agencies. The OIG's review of four Numident verification systems, which processed 13.9 billion transactions between fiscal years 2021 and 2025, revealed that 1.3 billion transactions resulted in non-matches due to minor discrepancies. The OIG found that some automated systems failed to verify incoming data even when manual verification or other SSA systems would have confirmed a match. Michelle L. Anderson, Assistant Inspector General for Audit as First Assistant, emphasized that modernizing these systems would not only improve accuracy but also redu...
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U.S. Couple Ditching Mortgage for Permanent Cruise Ship Living Reveals Cost-Effectiveness

U.S. Couple Ditching Mortgage for Permanent Cruise Ship Living Reveals Cost-Effectiveness

U.S. Couple Ditching Mortgage for Permanent Cruise Ship Living Reveals Cost-Effectiveness