Social Security Payment Schedule and COLA Notice Quiz

Why is it particularly important to stay organized with finances in December 2024?

• Because taxes are due in December.

• Because of holiday preparations and planning for the new year.

• Due to the arrival of Social Security payments.

• Because it's a month with no holidays.

What does the COLA notice inform Social Security beneficiaries about?

• Their new benefit amount for 2025.

• The weather forecast for December.

• Their tax obligations for the year.

• Upcoming changes in Social Security laws.

How is the COLA calculated?

• Based on the stock market performance.

• Using the Consumer Price Index for urban wage earners and clerical workers.

• By the number of beneficiaries.

• Through a random selection process.

When will Social Security beneficiaries who started receiving benefits before May 1997 receive their December 2024 payment?

• December 25th

• December 11th

• December 3rd

• December 1st

What should beneficiaries do if their payment does not arrive on the expected date?

• Contact the police immediately.

• Wait three business days before reaching out to the SSA.

• Panic and call the bank.

• Ignore the issue.

What should beneficiaries check in their COLA notice?

• The weather forecast.

• Their updated monthly benefit amount and any deductions.

• Their favorite TV shows.

• Their travel itinerary.

What is a recommended action after receiving the COLA notice?

• Share it on social media.

• Ignore it completely.

• Use it to plan and adjust your budget for 2025.

• Throw it away immediately.

What is a benefit of having a my Social Security account?

• Getting free groceries.

• Receiving your COLA notice online.

• Receiving daily news updates.

• Winning a lottery.

What should you do if you receive a suspicious call or message claiming to be from the SSA?

• Send them money.

• Provide your personal information immediately.

• Ignore it and report it to the SSA's Office of the Inspector General.

• Call the number back.

What is a good financial strategy for 2025 according to the video?

• Invest in risky stocks without research.

• Ignore your financial situation.

• Plan for unexpected costs and long-term goals.

• Spend all your money immediately.