Will my Social Security benefits change if I move to another state?

No, your actual federal Social Security benefit amount (retirement, Disability Insurance) doesn't change when you move states, as it's based on your earnings history, but your take-home pay might because some states tax benefits while others don't, and Supplemental Security Income (SSI) varies by state supplement, affecting your total income. Moving also impacts Medicare Advantage/Part D plans and requires you to update your address with the SSA.

What is the 5 year rule for Social Security?

The Social Security "5-year rule" has two main meanings for Disability Insurance (SSDI): first, to qualify, you generally need to have worked and paid Social Security taxes for at least 5 of the last 10 years before becoming disabled (20 credits); second, if you previously received SSDI, you can skip the 5-month waiting period if you become disabled again within 5 years of your last benefit. This rule ensures a recent work history for initial eligibility and helps those with recurring conditions quickly get benefits again. 

What is one of the biggest mistakes people make regarding Social Security?

Claiming Benefits Too Early

One of the biggest mistakes people make is claiming Social Security benefits as soon as they're eligible, which is at age 62. While getting money sooner can be tempting, claiming early has a significant downside: your monthly benefit will be reduced.

What state pays the highest Social Security?

Connecticut pays the most in average Social Security benefits for retired workers, with averages around $2,196 monthly, closely followed by New Jersey, New Hampshire, Delaware, and Maryland, reflecting higher regional incomes, though these states also have higher living costs. The states with the largest total number of beneficiaries are California, Florida, and Texas, due to their large populations, but their average payments are often lower than in the Northeast.
 

What happens to my Social Security benefits if I move out of the country?

If you move abroad, U.S. citizens can generally keep their Social Security (Retirement, Disability, Survivor) benefits, but non-citizens may face a six-month limit unless an exception applies, with payments stopping after that time unless you return for a full calendar month; benefits are paid via direct deposit, but you must report life changes and file U.S. taxes, and some countries (like Cuba, North Korea) aren't eligible for payments. 

What Happens to My Medicare When I Move to a New State?

How long can you live outside the U.S. before losing your social security?

If you leave the U.S., we will stop your benefits the month after the sixth calendar month in a row that you are outside the country. You can make visits to the United States for specific periods of time, depending on how long you've been outside, to continue receiving your benefits.

What are the three ways you can lose your social security?

You can lose Social Security benefits by working while collecting early, leading to earnings limits; incarceration, which suspends payments; or through garnishment for federal debts like taxes, student loans, or child support, along with other factors like remarriage or changes in disability status. 

How much do you have to make to get $3,000 a month in Social Security?

To get around $3,000/month in Social Security, you generally need a high earning history, around $100,000-$108,000+ annually over your top 35 years, but waiting to claim until age 70 maximizes this amount, potentially reaching it with lower yearly earnings, say under $70k if you wait long enough, as benefits are based on your highest indexed earnings over 35 years. The exact amount depends heavily on your specific earnings history and the age you start collecting benefits. 

What's the best state to live in if you're on Social Security?

The best states to live on Social Security generally combine low cost of living with tax advantages, with top contenders often including Mississippi, Wyoming, West Virginia, Iowa, and Georgia for low expenses, and states like Florida, Texas, and Delaware for no state income tax or significant tax breaks on retirement income. Mississippi, in particular, stands out with low housing costs, no Social Security tax, and low property taxes, while Wyoming offers very low rents. 

Who qualifies for an extra $144 added to their Social Security?

You qualify for an extra ~$144 on your Social Security check if you have a Medicare Advantage (Part C) plan with a "Part B Giveback" benefit, which refunds some or all of your Medicare Part B premium, appearing as extra cash in your check, but eligibility depends on living in the plan's service area and paying your own Part B premiums. The "144" figure was common when the Part B premium was around that amount, but the actual refund varies by plan and location, potentially exceeding the full premium. 

What is the $1000 a month rule for retirement?

The $1,000 a month retirement rule is a simple guideline stating you need about $240,000 saved for every $1,000 of monthly income you want from your investments in retirement, based on a 5% annual withdrawal rate ($240k x 0.05 / 12 = $1k/month). It's a motivational tool to estimate savings goals (e.g., $3,000/month needs $720k), but it's one-dimensional, doesn't account for inflation, taxes, or other income like Social Security, and assumes steady 5% returns, making a personalized plan essential. 

What is happening on March 31, 2025 with Social Security?

At the conclusion of the transition period, on March 31, 2025, SSA will enforce online digital identity proofing and in-person identity proofing. SSA will permit individuals who do not or cannot use the agency's online “my Social Security” services to start their claim for benefits on the telephone.

What is the number one regret of retirees?

Among the biggest mistakes retirees make is not adjusting their expenses to their new budget in retirement. Those who have worked for many years need to realize that dining out, clothing and entertainment expenses should be reduced because they are no longer earning the same amount of money as they were while working.

How much Social Security will you get if you make $60,000 a year?

If you consistently earn around $60,000 annually over your career, you can expect a monthly Social Security benefit of roughly $2,100 to $2,300 at your full retirement age (FRA), but the exact amount varies by your birth year and claiming age; for instance, at FRA, it's around $2,311 based on 2025 bend points, while claiming at 62 yields less and claiming at 70 yields more, with an official estimate available on the Social Security Administration (SSA) website. 

Can I retire at 60 and still get full state pension?

Everything's much more flexible now. While you currently have to wait until you reach 66 to get your State Pension, you can start drawing your workplace and private pensions from the age of 55 (increasing to 57 from April 2028) – typically recognised as early retirement age.

Is it better to collect Social Security at 62 or 67?

It's better to collect Social Security at 67 (Full Retirement Age - FRA) for a higher, unreduced monthly payment, but claiming at 62 (earliest age) can be better if you need income sooner, have health issues/short life expectancy, or have other robust savings, though it means significantly lower payments (around 30% less at 67 FRA). Delaying past 67 (up to age 70) further increases benefits, making waiting generally best for maximizing lifetime income if you live long, but 62 is for immediate needs or specific financial strategies like investing those early checks. 

Can I live on $5000 a month in retirement?

To retire comfortably, many retirees need between $60,000 and $100,000 annually, or $5,000 to $8,300 per month. This varies based on personal financial needs and expenses.

What is the cheapest and happiest state for retirees?

Cheapest States to Retire In

• Mississippi. Cost of Living: Lowest in the U.S. ...
• Alabama. Cost of Living: Significantly lower than the national average. ...
• Arkansas. Cost of Living: Among the lowest in the nation. ...
• Oklahoma. Cost of Living: Lower healthcare and housing costs. ...
• West Virginia. ...
• Tennessee. ...
• South Carolina. ...
• Kentucky.

What kind of income reduces Social Security benefits?

Earned income (wages, self-employment) reduces Social Security benefits if you're below your full retirement age (FRA), with $1 deducted for every $2 over $23,400 (in 2025) if under FRA all year, or $1 for every $3 over $62,160 (in 2025) in the year you reach FRA, until that month. Passive income, like investments, generally doesn't affect retirement benefits but does impact Supplemental Security Income (SSI). Once you reach FRA, earned income no longer reduces benefits. 

Can you retire at 70 with $400,000?

Typical lifetime payout rates at age 70 are about 5%–8% depending on carrier and terms. On $400,000, that's roughly $20,000–$32,000 per year for life, before Social Security. Favor increasing-income GLWBs when available so your paycheck can step up over time to fight inflation.

Are people on Social Security getting extra money in 2025?

Yes, Social Security recipients received a 2.5% Cost-of-Living Adjustment (COLA) for 2025, effective January 2025, increasing average benefits by about $48 monthly; this was announced in late 2024, with the next COLA for 2026 announced in October 2025. The 2025 increase followed a larger boost in 2024, reflecting lower inflation, and notifications for the 2025 raise were sent out in late 2024. 

What disqualifies you from Social Security?

You can be disqualified from Social Security for insufficient work history (not enough credits), earning too much income (especially for SSI/Disability), having a non-disabling condition, failing to follow prescribed treatment, substance abuse as the primary cause of disability, incarceration, or moving to certain countries. Eligibility depends on the benefit type (retirement, disability, SSI), but common disqualifiers involve not meeting work credits or income/resource limits. 

How to avoid losing social security benefits?

How to Maximize Your Social Security Benefits

1. Delay your Social Security benefits. ...
2. Max out your earnings. ...
3. Limit Social Security taxes. ...
4. If you're married, coordinate benefit claims. ...
5. Consider working in retirement. ...
6. In sum: how to boost your Social Security payments.

Can you ever lose your social security benefits?

Yes, you can lose or have your Social Security benefits reduced due to working while receiving benefits (especially before full retirement age), medical improvement (for disability), incarceration, or failing to report changes in income or living situation; however, some reductions for early retirement are recouped later, and you can often voluntarily suspend benefits to earn delayed retirement credits.