The Daily Money: A rush on Social Security claims
Good morning! It’s Daniel de Visé with your Daily Money, Social Security edition.
At a recent internal meeting, a Social Security administrator projected some numbers on a screen to illustrate a remarkable trend: New benefit claims were up by more than 15% in March, compared with the same month a year ago.
Leland Dudek, the acting Social Security commissioner, chimed in to ask the presenter if the chart showed what he thought it did: that Americans are rushing to claim Social Security now, because they’re worried about the stability of the retirement trust fund in the future.
Social Security card goes digital
A new and digital alternative to the traditional Social Security card will be available by early summer, the Social Security Administration announced.
The agency will introduce a feature that allows all Social Security account holders the ability to access and view their Social Security number online.
The move comes weeks after Social Security walked back plans to reduce over-the-phone services and provided clarity about which account holders had to verify their identity in person.
Americans are snacking less
Americans are grabbing for snacks less, and it appears to be for a variety of reasons, including worries about money, the desire to eat healthier and reduce artificial dyes as well as the increased use of prescription drugs that suppress the urge to munch between meals.
Executives for several large brand-name snack companies, including the makers of Doritos and DingDongs, have said their sales have been affected by shoppers buying fewer snack products.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.