Social Security Update! | 5 BIG Changes to Social Security in 2024 (SS, SSI, SSDI)
#SSI #SSDI #SocialSecurity #VA
We're approaching some significant changes, and it's essential to stay informed, especially when it comes to Social Security. Every year brings adjustments that impact both workers and retirees. Now that we’re in 2024, here are 5 key changes you should be aware of, including:
1. Work credits requirement is increasing
2. High-income earners will pay more in Social Security taxes
3. Benefits will receive a boost
4. Higher earnings allowed before the earnings test applies
5. Maximum Social Security benefit is increasing
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Disclaimer: The information I discuss is solely based on publicly available news sources, based on my own personal understanding and interpretation, and should not be considered an alternative to receiving proper guidance from a trained financial, tax, or retirement professional.