THIS HAS GOT TO BE A MISTAKE!

what's going on guys welcome back to the channel we have a lot to cover in today's video social security updates double Social Security payments uh 200 increases for Social Security SSI SSDI there's a lot of new information coming out that the buy Administration is releasing Big D big details big changes and uh potential changes that are going to impact the incomes of potentially millions of Americans in fact probably at a mil at a minimum of millions of Americans will be affected by this we've got uh Social Security updates today that I want to talk to you guys about new 914 direct payments uh dropping in the next two weeks and uh for most months of the year supplemental security income recipients get their SSI payment on the first day of the month but there are some changes there are some variations that are anticipated coming up in the next coming days also Social Security double payment in March who qualifies what's going on is this a mistake we have a lot to cover in today's video and I want to make sure I provide you guys with Clarity but before we get into it please drop a like for the video I totally appreciate that also if you're new to the Channel please uh consider subscribing for your daily dose of the truth uh for all things Social Security SSI SSDI uh snap and EBT the housing market updates stock market updates and of course whatever the heck is going on in Washington DC that affects our lives our families and our bank accounts make sure to subscribe to the channel and drop a like for the video I totally appreciate that and of course if you own a home make sure your home is protected get your free home warranty quote there is a link in the description down below this video but let's go ahead and talk about the social security uh increase for 2023. now we did hear from the bite Administration not too long ago and we already know where here Kevin McCarthy and the Republicans stand in terms of Social Security uh but we actually heard from Biden on the issue my some of my Republican friends want to take the economy hostage I get it unless I agree to the recognized plans all of you at home should know what those plans are instead of making the wealthy pay their fair share of some Republicans some Republicans want Medicare and Social Security Sunset I'm not saying it's a majority [Applause] attack my office I'll give you a copy I'll give you a copy of The Proposal each Congress doesn't vote well I'm glad to see you now I tell you I enjoy conversion you know amazing the idea is that we're not going to be we're not going to be moved into being threatened to default on the debt if we don't respond folks so folks as we all apparently agreed Social Security Medicare is also off the books now right [Applause] all right you got unanimity well you heard it folks so Social Security is off of the table but I want to give you guys some quick updates here so let's talk a little bit about the Social Security Supplemental Income 2023 uh new 914 direct payment drops in less than two weeks and when you get it so let's talk about this so it says here beneficiaries are set to receive 914 dollar payments on March 1st as well as March 31st so that's two payments in the month of March so that's the other the second check is actually the payment for April but it falls it first falls on a Saturday so basically April 1st or April Fool's Day is on a Saturday so they are they're not going to send out the payment on a Saturday so what they're doing is they're sending the April payment in March March 31st to be exact uh because the weekends fall on the holidays two checks will go out in June September and December as well just give you guys a quick heads up also 33 states are sending out their own supplemental payments and so you guys should be aware of that we share that information in a previous video so I won't bore you with the details on those um and so the question is and I've been getting a lot of these messages Hey Ron I got a letter from the Social Security office and they're saying that I owe them money rather than them paying me money so you guys can comment down below and let me know if you're seeing something similar but more and more people are reaching out to me saying hey their social security is saying that they've overpaid a social security recipient uh and I didn't get the details on this one so I don't know if it's SSI SSDI is it standard Social Security payments but they're saying that they have been contacted by the Social Security Administration and that they expect these recipients these Social Security recipients to pay them back and that's the thing that's really concerning because uh you know these are individuals many of them where Social Security is their primary form or source of income so if that social security check gets cut that's a really painful situation to be in um yeah so it's one thing if okay maybe you had a a fairly large 401K maybe a million two million three million five million dollars a Year's 401K maybe between your IRA your Roth IRA investment retirement account perhaps your traditional investment retirement account uh you know if you have those types of Investments maybe you had a 403 b maybe you had non-retirement related brokerage accounts E-Trade Vanguard with index funds in them maybe some investment related bonds treasury bonds uh some mutual funds maybe some ETFs S P 500 ETFs okay if you're you're in one of those situations then okay if Social Security sent you a letter saying hey we're going to have to cut back on future checks to make up for the overpayments that they've sent it's probably not as big of a deal you know if you're in one of those situations where you have multiple investment accounts maybe you have an e-trade account you've got a Fidelity brokerage account maybe you've got American Funds or you know MooMoo Weeble you know any of your favorite investment retirement accounts Charles Schwab uh Wells Fargo Lynch was it Merrill Lynch you know if you've had if you have these types of investment accounts then you're probably fine but for those many Americans that are living primarily on Social Security then if you get a letter saying your benefits are going to get cut or they want you to write them a check to pay them back for the overpayments you know that's kind of a tough situation to be in so anyway I wanted to make sure to share that information with you guys because that is a very very big deal uh Social Security Administration sent out payments to over 71 million Americans as of January 2023 due to the Monumental nature of issuing so many payments the agency spreads out when they are sending these payments due uh depending on the date of birth types of benefit and when a recipient first signed up for Social Security so these are the types of factors that you're gonna have to take into consideration to to determine when you actually get a payment and this situation ultimately um this creates a situation where you know every so often beneficiaries receive more than one payment in a calendar month and so this is what we're seeing here so March will be one of those months along with June September and December 2023. uh another group of beneficiaries also gets double payments whenever they receive both Social Security and their supplemental support income also known as SSI so I just wanted to kind of clear up the air because there's been a lot of questions about are we really getting two checks in March are we getting two Social Security checks two payments in March yes technically you are getting two payments two checks are going out in March but it's not like you're getting an extra check you're just getting your April check in the month of March because April 1st happens to fall on a Saturday so I wanted to give you guys a quick heads up on that and to kind of clear the air because I know a lot of people are getting confused on that um now this what you know so what is the amount of the Social Security payments in March so the Social Security Administration pays benefits to retired and disabled workers as well as survivors and the amount that each beneficiary receives depends on a lot of different factors including when the worker began claiming the Social Security and what their primary Insurance amount uh is among others and also it's saying here that the average monthly Social Security payment in January 2023 was 1961 across all types of benefits according to the agency data supplemental support income is specifically targeted at adults and children with a disability and who have income resources below certain thresholds the support is available to those age 65 years old and over whose financial means place them um in in situations where they're well below the thresholds but again you know and this is what we've been talking about here guys you know they're trying to push this age for the fra like the fully retired age they're trying to push the fra out even further and they're trying to say you know people are living longer and they need to do this to extend the viability of the Social Security program because basically they're running out of money there's more people who are receiving Social Security payments than are paying into the system right now so the ratio of contributions versus distributions is way out of whack right now so and this is why I'm talking to a lot of uh you know people right now trying to get them to you know start thinking about the future you know if you don't want to be in a situation where all you have is your Social Security checks coming in you know we're all going to retire at some point you can't work forever so you got to have some form of residual income 401ks investment retirement accounts brokerage accounts you know get familiar you've got Edward Jones out there you've got Charles Schwab you've got Vanguard um and you know get some get some uh diversification in your investment portfolios like you know I'm not trying to have all my eggs in one basket like even if I feel super duper confident in one particular company on the stock market I just I would feel a lot better knowing that you know hey I invested in an S P 500 ETF and I'm spread out among you know hundreds of different companies and hundreds of the largest companies on the stock market so I wanted to share that information with you guys so yeah you know uh be looking at your 401k accounts and if you're like many of the people who have reached out to me Hey Ron I don't work at this company anymore I got laid off or I had a 401k at my old employer I don't work there anymore how do I get to it because I don't even know what it is um my best suggestion to you would be if you if you're in that situation where you don't know where your 401K investment is held your stock market investment is held or your retirement account is held contact your old employer reach out to the human resources department and say Hey you know my name is John Doe I used to work here back in you know 2015 and I'm just trying to figure out how do I get access to my 401k and they'll probably have some previous record of your employment there they'll look you up and kind of point you in the right direction at a minimum if you can at least get the employer to tell you who the investment account is with so let's just say you know you have a 401K with I don't know Wells Fargo excuse me let's just say you used to work at Wells Fargo for example or Walmart or you name your favorite company right so you used to work at this company you call them up and you say hey I'm John Doe I used to work there hey we you know they might say hey we can't give you any information or hey we don't have you on record um to having worked here maybe you stopped working there years and years ago and they don't have any record of it what you do is you tell them hey I just need you to let me know who you guys use for your 401k that way once you get the name of the uh brokerage account the Investment Company it could be Charles Schwab Vanguard whoever E-Trade whatever once you know who it is now you can just call up that investment company and say hey um you know call the customer service line hey I have an account um I have a 401k account with you guys I don't know my account number can I give you my information so you can look me up and then they're probably going to ask for your name address social security number that kind of thing but uh just for those people who are in that situation uh because a lot of people they leave these companies and they leave all of this investment um in these 401ks and they forget about them and it's like hey your employer likely contributed to it so you got free money from your employer in a lot of cases dollar for dollar investment matching um you know you had years and years of s p 500 NASDAQ Dow Jones compounding you you don't you don't want to miss out on any of that uh financial gain you might even have REITs Real Estate Investment Trust in your 401k who knows anyway reach out to those guys get your money and uh and get in contact with a great IRS uh CPA make sure you have a good CPA so you're not overpaying in taxes and all that sort of thing uh because that that stuff can get tricky and you don't want to you know have any problems with the IRS so anyway guys I hope you guys got some value out of this video be sure to check out my next video you should see a video up here or over here um or to the left to the right whatever the case is check out the next video drop me some comments let me know what you guys are thinking let me know what you guys are struggling with and I look forward to helping you out on the future videos be safe guys