Social Security turns 88 years old this year, so I plan to celebrate that with some fun facts about this important part of our society. A lot has happened over the past 88 years that has helped Social Security improve, grow, and level up. I will talk about some of the challenges and important changes that happened along the way.
Listen in to learn about the origins of Social Security, how it was originally designed, and what key adjustments have taken place. I talk a lot about Social Security on this podcast because it is such an impactful part of most people’s retirement and financial planning. Knowing when and how to tap into this resource is key, so be sure to check out the Social Security website and stay tuned for more tips and updates!
Listen To The Episode Here:
What You’ll Learn:
Who was behind Social Security.
Who was the first to receive it.
Key changes and additions that happened early on.
The age changes and fluctuations over the years.
When they initially implemented cost of living adjustment updates.
Where taxation of Social Security began.
When the website was launched.
Your call to action this week.
Ideas Worth Sharing:
- “Ida M. Fuller was the first person to receive Social Security on January 31st, 1940.” - Regina McCann Hess
- “In 1972, Congress approved changes to annual cost of living adjustments that would use the CPI as a basis.” - Regina McCann Hess
- “In 2000, the Senior Citizens Freedom to Work Act was signed into law, and this eliminated the retirement earnings test for beneficiaries at or above the full retirement age.” - Regina McCann Hess
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