I see some of my tenants have social security income, but it changes over time. What make it change? Also how long does that social security income last usually?
Social Security income should not change other than tiny annual cost of living adjustments (increases). Only things that would really change it are death of a spouse or divorce.
@Jason Powell Does a death of a spouse or divorce increase or decrease the SS income?
Andrew, I could write a small book on answering that question. You can PM me with specific situations though and maybe I can provide more useful feedback. If you include your email, I'd be happy to forward you some PDFs on the topic.
P.S. I'm headed on a cruise in a couple hours with no Internet for over a week, so it may take a while to get back to you.
If one spouse dies the total family income should go down, but depending on the amount each spouse was receiving the surviving spouse's income may go up.
As an example. Wife is receiving $1600 per month, husband is receiving $2900 per month. If the wife dies the husband would still receive his $2900. If the husband dies the wife could elect to receive SURVIVOR'S benefit which would be about $2,000-$2100 per month but would no longer receive her $1600 per month.
As the other poster wrote he could write a book about the various ways social security income changes
Also, if it is SS disability it might change depending on if the recipient earns any money and how much.
Also if SS disability, it might go away completely if the recipient is determined to no longer be disabled. However, most people who go on SS disability, even if they become abled, will ride that gravy train out until death. I think I'm the only idiot in the world who elected to get off SSDI.
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