Social Security Q&A: Support From Friend Could Affect SSI Eligibility, Amount
Q: Next month I’ll turn 65 and, because of my financial situation, I thought I’d be eligible for Supplemental Security Income. But my neighbor told me I’d be turned down because I have a friend who said he might help support me. Is this true? A: If your friend helps support you, it could have an effect on whether you get SSI and on the amount you receive. Whether you can get SSI depends on your income and resources (the things you...
Economists Find Career Earnings of Low-Income Graduates Lag
College is supposed to be the great equalizer — the way to pull yourself out of a low-income background and position yourself for a better shot at the American Dream. But does it work? Yes, somewhat, but college is not as powerful as you might believe. Although low-income students do get an earnings boost by getting a bachelor’s degree, they don’t come close to students from middle- or high-income backgrounds with the same degrees,...
Social Security Q&A: How Long Does It Take to Get a Child’s Card?
Question: I applied for my child’s Social Security card in the hospital but have not received it. How long does it take? Answer: In most states it takes an average of three weeks to get the card, but in some states it can take longer. If you have not received your child’s card in a timely manner, please visit your local Social Security office. Be sure to take proof of your child’s citizenship, age and identity as well as proof of your...
Money Talk: Put Billing Complaints in Writing
Question: I have a dispute with a credit card company over an online transaction that I canceled. The company charged me three times but refunded only one of those charges. The credit card company initially canceled the other two transactions but I was rebilled without my knowledge. Despite my submitting evidence and the card company agreeing that I don’t owe the money, it will not take the charge off. Who do I contact to get this...
Workers Are Saving More for Retirement, Led By Millennials
New York — Workers are saving more for retirement, and the youngest — not exactly known for squirreling money away — are boosting their savings rates faster than any other age group. Millennials between the ages of 25 and 34 are saving a median of 7.5 percent of their pay for retirement, including whatever match they get from their jobs, according to a survey by Fidelity Investments of 4,650 households with at least $20,000 of annual...
