Forum Thread

6 Social Security Changes You Should Know About for 2019

Reply to ThreadDisplaying 4 Posts
  • Are you sure you want to delete this post?
        

    Social Security will see several changes for 2019. 6 in particular worth mentioning here:

    1. Beneficiaries will see a 2.8% increase in payments. The COLA (cost of living adjustment) is going to be raised again, so everyone receiving benefits should expect a slightly bigger monthly check, to combat annual inflation.

    2. Maximum taxable earnings will increase to $132,900. This was $128,400 in 2018. The rate is staying the same at 6.2%. So this will help fund the program but those making higher incomes should expect to pay a bit more on a few thousand of their earnings.

    3. Full retirement age will continue to increase. The retirement age is actually set to increase by 2 months every year until it hits the full age of 67. So for 2019 it'll be 66 years and 6 months of age for everyone turning 62 in 2019.

    4. Earnings limits will increase. The increase is from $17,040 in 2018 to $17,640, a $600 increase.

    5. Social Security disability thresholds will increase. This is a modest change but worth mentioning for those that are getting SS with disabilities. Those that are legally blind will see an increase max of $70, to make it $2040 a month. And for everyone else, a $40 increase max to $1220.

    6. You can view your COLA notice online. This is the first time you will be able to view your COLA notice online. You used to have to wait for this in the mail. Use this official SSA.gov portal link to sign up and view it.

    I got all this info from Investopedia.

  • Are you sure you want to delete this post?
        
    Good to see the COLA increase, and even go a bit higher than last year's increase which was 2.2%. The max tax earnings increase and retirement age continuing to go up I'm sure don't make people happy though. Makes me wonder what full retirement age will be when I retire in some decades...
  • Are you sure you want to delete this post?
        

    If you're looking for a good in-depth video on SS changes for 2019 as well, I would recommend this one:

  • Are you sure you want to delete this post?
        
    Thanks for the video. Although, I'm not excited about the age increase. I know you said it will stop at 67, but I have a feeling, we'll be seeing it in the 70's by I get ready to retire. Especially with advances in modern medicine, people will be able to work longer. Which is kind of sad to think about.
Categories: Social Security