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2 weeks ago | 
money.usnews.com | Maryalene Laponsie |Tracy Stewart |Katy Marquardt Hill
Key Takeaways Social Security cannot be garnished for consumer or medical debts. Benefits can be garnished for federal debts, such as taxes and student loans, as well as child support, alimony and restitution. Garnishment for federal debts is limited to 15% of a monthly payment, and a beneficiary must be left with at least $750 a month. Up to 65% of Social Security payments can be garnished for child support and alimony, and there is no cap on how much can be taken.
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3 weeks ago | 
money.usnews.com | Maryalene Laponsie |Tracy Stewart |Katy Marquardt
Key Takeaways: Americans who want to retire abroad should set up an online my Social Security account before they leave the country. Social Security payments can be received by eligible beneficiaries located anywhere in the world, with the exception of a handful of countries. Having money deposited into a U.S. bank account is helpful, but not all institutions cater to expats. Expats may have to return “proof of life” forms to the Social Security Administration every year or two.
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4 weeks ago | 
money.usnews.com | Maryalene Laponsie |Tracy Stewart |Katy Marquardt
Key Takeaways President Donald Trump has named Frank Bisignano as his choice for Social Security commissioner. Bisignano is a businessman and CEO of financial technology company Fiserv. Some people praise Bisignano as an excellent choice, given his business success. Others worry about Bisignano’s lack of experience in public policy. President Donald Trump has developed a reputation for making unconventional choices. Among them is the selection of Frank Bisignano as Social Security commissioner.
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1 month ago | 
money.usnews.com | Maryalene Laponsie |Tracy Stewart |Katy Marquardt
Key Takeaways Older workers may find that their jobs no longer exist due to workplace restructuring or technological advancements. Workers should take steps to upskill or reskill before their job becomes obsolete. Federal law provides some protection for workers who are laid off after age 40. Networking and retraining can be key to successfully pivoting to a new career later in life.
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1 month ago | 
money.usnews.com | Maryalene Laponsie |Tracy Stewart |Katy Marquardt
Key Takeaways: Social Security payments are delivered on the second, third and fourth Wednesdays of each month, depending on a worker’s birth date. New claims may be subject to processing delays. Payments for existing beneficiaries may be delayed if someone has changed their banking or personal information. Calling the Social Security Administration is often required to resolve a payment delay issue.
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2 months ago | 
money.usnews.com | Kathleen Peddicord |Katy Marquardt |Tracy Stewart
Key Takeaways Despite its high cost of living, Singapore's high quality of life and low crime rate make it a desirable destination for U.S. retirees. Singapore has one of the best health care systems in the world, with universal health coverage and advanced technology in its hospitals and clinics. Singapore's public transportation system is excellent, allowing retirees to live a car-free lifestyle.
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2 months ago | 
money.usnews.com | Kate Stalter |Katy Marquardt |Tracy Stewart
Question: International investments haven't seemed worth it in the past. However, recent swings in the market have given me reason to reconsider. Is it wise to include foreign investments in my retirement portfolio, especially since they've historically underperformed compared to U.S. stocks? Answer: For years, financial advisors have urged retirement savers to include international stocks in their allocations. The idea is to help smooth returns in retirement.
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2 months ago | 
money.usnews.com | Rachel Hartman |Katy Marquardt |Tracy Stewart
Key Takeaways Participating in hobbies and volunteer work can help retirees meet others and engage in their communities. Joining a support network could lead to shared experiences and a sense of belonging. Community events provide an opportunity to meet other people and make connections. Retirement is often seen as a time for relaxation, but it can lead to isolation without active social engagement.
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2 months ago | 
money.usnews.com | Maryalene Laponsie |Katy Marquardt |Tracy Stewart
Key Takeaways President Donald Trump says he has no plans to touch Social Security, but the Department of Government Efficiency has been reviewing Social Security Administration data. Elon Musk, the public face of DOGE, has stated his belief that money savings can be found in the Social Security system. Social Security benefits are set by law, but DOGE may be able to restructure the agency’s workforce and office network without congressional approval.
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Mar 7, 2025 | 
money.usnews.com | Kate Stalter |Katy Marquardt |Tracy Stewart
Key Takeaways More than three million retirees should see increased Social Security benefits in April following the repeal of WEP and GPO. Financial advisors recommend steps such as prioritizing emergency savings and paying down debt. Retirees with a sound financial plan may consider using the money to bolster retirement savings. Those receiving increased benefits should consider the tax implications of additional income.
