SavvySugar

250,000 Couples Will Receive Stimulus Checks

SavvySugar — Wed, 15 Oct 2008 12:30:32 -0700

When rebate checks were distributed to Americans this Summer the IRS only cut checks to citizens whose names and social security numbers matched. The IRS recently announced they would be issuing overdue checks to 250,000 couples that qualified for the stimulus but were overlooked because of mismatched names and social security numbers.

If one person decides to change their name after marriage, the change should be reported to the Social Security Administration so their social security number matches the new legal name. Some couples fail to take this step, and this time the oversight meant they missed out on stimulus checks from the government. Going forward, make sure you're accounted for appropriately by following my checklist for changing your name.

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Do You Know What Is Normal Retirement Age?

SavvySugar — Wed, 06 Aug 2008 12:30:22 -0700

It may seem like a faraway reality unless you plan on retiring young, but retirement issues affect us all today because of the Social Security system in the US. The Social Security Administration has admitted that young workers won't be able to count on our less-than-minimum-wage benefits through retirement, and there's some discussion about whether or not it makes sense to raise the retirement age.

Do you know how old you must be in order to receive full Social Security benefits during retirement?

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Social Security Benefits in 2041 Below Minimum Wage Income

SavvySugar — Thu, 10 Jul 2008 12:33:49 -0700

If you haven't already been convinced that committing to retirement savings isn't really up for argument, consider these statements from the Social Security Administration. The average monthly benefit in June 2008 was $1,084.47, but in 2041 Social Security will only be able to pay 78 percent of scheduled benefits. The Motley Fool has calculated the inflation-adjusted equivalent to be $845.89 per month.

It hurts to see the Social Security payments deducted from each paycheck and know that we won't be receiving much back, but at least we have some warning. There's still plenty of time to get going on saving for retirement so that you can live comfortably in your golden years.

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