Social Security $13,590 for the Low Income – Big Deal – SSDI, SSI

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Social Security $13,590 for the Low Income - Big Deal - SSDI, SSI
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$13,590 for the low income, why this is such a big deal, and why it is good news for the low income. All right, so this number that I announced at the beginning of the video, $13,590 is actually really good and why it is such a big deal, especially for the low income and those people living on a fixed income from benefits, including Social Security, SSDI, retirement survivors, SSI, VA, and RRB, just to name a few. Now this is actually a really good thing. So I want to dig into this a little bit deeper and explain why this is actually a really big announcement and why this number represents a pretty good thing here for so many millions of people. All right, so the $13,590 is the new updated federal poverty line in 2022.

Now you might be wondering really, like, seriously, why do we care about this? This is not a big deal. Well, it actually is a big deal. So the federal poverty line is actually a number in which a lot of different programs as far as the eligibility, benefit amounts and so many other things are actually pegged off of the federal poverty line. Now let me explain this to you, because I want to give you a perspective on where we came from last year, the updated amount this year, and what it means going forward, especially for monthly benefits and for any of these programs out there that the low income and the fixed income can actually take advantage of.

All right. So number one, last year the federal poverty line was $12,880 per year. By the way, this is an annual income, not monthly. But I think we all probably figured that, right? Honestly, somebody earning $13,000 a month would certainly not be low income or poverty line.

Right. But anyway, I think we all probably anticipated that. But anyway, last year the federal poverty line was $12,880. However, now this year in 2022, the federal poverty line has jumped up by $710, up to $13,590. So by the way, if you want to have that as a perspective on a monthly basis, last year it actually came out to $1,073 each and every month 12,080 divided by twelve months is $1,073.

Now this year it jumps up to from that twelve, 880 up to 13, 590. Again, that divided by twelve months comes out to a monthly income of $1,132. So you can see a pretty nice jump there. And on an annualized basis, it is $710 over the course of the year, again, pretty nice every single month. And for the course of the year, however, let’s now talk about why this number is actually a really good number to actually pay attention to number one.

Not number one. I could go on probably numbers 10, 15, 20. There’s a lot of different reasons here, but let me kind of go through the list here. First off, a lot of these benefits that we talk about here on the channel on a very regular basis, including like housing vouchers, Section eight, public housing, Snap benefit, Supplemental Nutrition Assistance program, food assistance, utility assistance. These programs out there right now for like the low-income Home Energy Assistance program that, for example, as well as utility assistance, like other utility assistance, even this other program that’s out there right now to get you free Internet.

All of these programs are based on where your income is in relation to the federal poverty line. Now, it could be the program. Now, again, it depends on the program. But in general, these programs are anywhere between about 100%, 125%, maybe even 200% of the federal poverty line. So this is actually a very important number that we need to continue to pay attention to because as the federal poverty line continues to jump up each and every year, that just means that it encompasses more people that could be eligible to receive benefits out of these very important programs and some of these new programs that are out there right now, just like the one for the free Internet.

That’s a new program as of just a short time ago, not even a year ago, that program was actually implemented and put in place so that the low income could get free Internet or at least some money toward their Internet each and every month. By the way, I’ve talked about that program in separate videos. If you’re curious what the name is that I’m referring to. It is the affordability connectivity program. Check it out.

If you haven’t seen my previous topics, check that one out. You can get $30 off of your Internet bill every single month. But otherwise, go back and check out some of my dedicated videos talking about that one as well. But anyway, so the federal poverty line is actually a very important one also, as we continue to look forward into the future. Now, again, I’m going to throw out some words right here.

Again, I know that there’s some controversy about this. I know that there’s some back and forth on this, but we got to continue watching this very closely as it pertains to potential stimulus checks or any type of additional payments going forward in the future. Now, right now, nothing has been approved quite yet. However, that’s as of right now, I think all of us can agree right now, we are in a very different global situation as well as domestic situation right here in the United States. There are some very different things going on right now than what we were even experiencing three months ago, six months ago, a year ago, two years ago.

Things are very different right now. So again, I know that at this time, a fourth stimulus check has not been approved quite yet. But here’s the deal. Considering everything going on right now, we got to watch everything closely because I don’t know, it just seems really confusing to me that Congress hasn’t approved anything yet. But again, considering the current landscape, with everything going on out there, there may be something again, I can’t promise anything because I have no idea what’s in the mind of Congress right now.

But I’m simply saying we’ve got to pay attention to this stuff very closely. But again, a lot of times a lot of this is pegged off of the federal poverty line. Again, the new updated number of $13,590 this year in 2022. Now, generally, this number does bump up a little bit each and every year, but sometimes it doesn’t really move up all that much. It’s based on a number of different factors.

And considering the inflation that we’re currently dealing with right now, again, we got a little bit more of a healthy bump up on it this year in 2022, over last year, 2021. So this is actually some pretty exciting stuff right here because I do know that sometimes some of you out there in the community may have an income that is very close to the federal poverty line that may actually have you possibly missing out on some benefits or maybe not being able to take full advantage of some benefits simply because your income may be just a touch over the line of the federal poverty line. However, now that they’ve bumped it up, this should encompass a lot more people out there and make more people even eligible for more of these benefit programs that are out there. Regardless if you are at below or somewhere near the federal poverty line, I can guarantee you 100% there are programs out there right now to help you out in a variety of different ways. Utility bills, Internet bills, housing bills, all kinds of stuff, food assistance.

There are so many different programs out there right now. It’s unbelievable that the things that are available to you right now, especially for somebody who has an income that is a little bit over the federal poverty line at or even anywhere below the federal poverty line, then the floodgates really open up and there are a lot of programs if you are below or even at the federal poverty line. So I think if you’ve been reading the topics here for a while now, you know what I’m talking about. I’ve been talking about many of these programs. I can always come back and make more dedicated topics about this.

I do know that I talk about the programs every so often, somewhat repeatedly. But here’s the deal. I do know that there’s a lot of you out there that are eligible for these programs. And that’s why I continue to bring you these programs is because they have record funding right now. And I want to make sure that you take advantage of it, because realistically, we’re not going to see record funding forever.

That is a fact. We are not going to see that, considering the landscape of everything going on right now, mostly the COVID situation until the current landscape. But this record funding was actually approved as a result of the COVID situation. But that’s still around. But we also know at the same time that it’s probably not going to be around at the levels that it is right now forever.

Therefore, take advantage of the money. Right? The money’s there grab what you have coming to you or what’s available to you. But anyway, the federal poverty line a very important number. They’ve bumped it up this year.

We’ve got to pay attention to it. It’s a good one, especially for the low income, the fixed income, including Social Security, SSDI, SSI, VA, RRB. Who else am I forgetting? Ssdi, SSI. I think I got all in there.

But anyway, all those beneficiaries are very important to watch this numbers and how it pertains going forward. Now, again, as we do potentially get any new announcements on possible programs, money, relief checks, anything like this. Of course, I’ll continue watching it and I’ll bring you those details as I do get more information. But if you are somebody with an income around there, by the way, when I say income, it does not matter where your income comes from. It could be income from a job, it could be from fixed income, it could be from any of the benefit programs that I’ve been mentioning throughout this topic.

Income is income in the eyes of these programs and in the eyes of the IRS, income is literally money coming into your possession in any way at all. You could be selling baseball cards on the corner. You could be selling Orange juice on the corner. You could be receiving Social Security retirement benefits. It does not matter. Or you could be working full time.

It does not matter. Income is money coming in to your bank account or into your pocket. It could be cash, it could be a direct deposit, it could be checked, it could be anything. Money coming in is called income. So that’s what I’m saying.

It does not matter where your income comes from. Generally, when it comes to these programs, it’s just based on what’s the numbers that you have coming into your possession. That’s what they base these numbers on and the programs. That’s why I got to watch this stuff very closely. Anyway, as I do get more information on any more programs, new programs popping up programs that are maybe a little bit dormant right now that are getting new funding, possible checks, relief checks, survival checks, possibly talk of a stimulus check, boost to benefits, raises to benefits, any of these other emergency type benefits right now?

Of course, I will continue watching it closely and I’ll bring you all those details but I hope this one helps you out. Enjoy your day and I’ll catch you again later in the next one.

Bye.

 

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1 COMMENT

  1. An attention-grabbing discussion is price comment. I feel that you should write extra on this subject, it won’t be a taboo topic however typically individuals are not sufficient to speak on such topics. To the next. Cheers

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