Social Security benefits are influenced by multiple factors, and applying for Social Security at the age of 70 can significantly impact the amount you receive. The decision to delay benefits until 70 ensures a larger monthly payment, which can be beneficial for long-term financial stability. While the right age to claim benefits varies depending on … Read more
If you’re wondering whether to wait before claiming Social Security, there are 3 Times It Delay Your Social Security Claim can be beneficial. Delaying benefits can result in a larger monthly paycheck, which can help if you lack savings, are still working, or expect to live a long life. Many retirees don’t realize that there … Read more
the idea that Congress stolen trillions from Social Security is a myth. Social Security funds are legally invested in government bonds, ensuring they remain accounted for. The real issue lies in demographic shifts and a growing funding shortfall, which could lead to benefit cuts by 2033 unless Congress takes action. The Reality of Social Security’s … Read more
Many Americans rely on Social Security to cover their expenses in retirement. However, there’s a potential issue ahead. The Social Security Administration (SSA) warns that by 2033, the program’s trust funds could run out, leading to a 21% cut in benefits. This means if you currently receive $1,000 per month, it could drop to about … Read more
Russell Gloor(National Social Security Advisor at the AMAC Foundation): I’ve heard that Social Security funds were moved to General Fund of the government. Does this mean Social Security is now an entitlement controlled by the government? Many believe that these funds should be invested to grow our savings rather than being handled by the government. … Read more
Social Security is facing a huge financial challenge. Experts estimate that its trust funds could run out in less than ten years. If nothing changes, benefits might be cut by about 25%. While that worst-case scenario is unlikely, the government still needs a solution. Let’s explore what 6 Social Security changes Americans want to see. … Read more
A major tax change could be coming for seniors. The Trump administration has proposed eliminating federal taxes on Social Security benefits, a move that could impact millions of retirees across the country. This would be part of a broader plan to introduce significant tax cuts, including eliminating taxes on tips and overtime pay. Why This … Read more
The Social Security Fairness Act has finally been signed into law, bringing a much-needed of over 3 millions of retirees set to receive higher Social Security benefits. This change is especially important for public employees who rely on pensions but were previously impacted by benefit reductions. While the law is a major victory, its implementation … Read more
If you receive Social Security benefits, you might have noticed a small increase in your monthly payment. This is due to the 2025 Cost-of-Living Adjustment (COLA), which went into effect in January. The 2.5% increase aims to help beneficiaries keep up with rising prices. Although the increase is smaller than in previous years, it still … Read more
Some Americans who rely on Supplemental Security Income (SSI) will see a small but important change in SSI payment date for March 2025. Instead of arriving on March 1, the check will be sent a day earlier—on February 28, 2025. This change may seem minor, but getting the payment a day early can be a … Read more