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Good News/Bad News on 2025 COLA Front
The number is watched, predicted, and important to millions of Americans. It’s the cost of living adjustment (COLA) that Social Security recipients will get in January 2025. What will it be? As Maurie Backman notes, it won’t be known until…
Social Security’s secret sauce for those nearing retirement
Maurie Backman notes how important retirement is and advises people to gain at least a cursory knowledge of Social Security and how benefits are calculated and paid. One, 35-years (or more) of work history is advised to avoid “zero” years…
Lifesaver Social Security Rule for Married Couples With Big Income Gaps
Stefon Walters notes married couples with large income gaps (especially ones sustained throughout a career) will often find that spousal benefits are a better route to take. It’s a great way to maximize retirement income and add more financial stability…
Will Gen Xers ever be able to retire?
Those born between 1965 and 1980 are the first generation of workers to come of age with 401(k) plans as their primary retirement vehicle after employers shifted away from traditional pensions in the 1980s. They’re known as Generation X, and…
There’s Debate on Whether Social Security Benefits the Wealthy More
Maurie Backman hits a touchy subject here. We know the U.S. tax code has favorable deductions and treatment of income in many aspects for wealthier individuals. But what about Social Security? Well, naturally the more one earns, the higher benefits…
COLA Watch 2025: News Worsens
Trevor Jennewine notes here that more than 2/3 of retirees surveyed by The Senior Citizens League said Social Security’s 2024 cost-of-living adjustment (COLA) failed to keep up with their expenses. The 2025 COLA was already projected to be smaller than last…
Boost Social Security Checks Up to 28% With Little Known Move
Kailey Hagen notes that some people regret claiming benefits before full retirement age (now 67 for those born 1960 or later). But, alas, you can take back your Social Security application within a year of signing up if you pay…
A Social Security table that shows the power of patience
Kailey Hagen explains and illustrates how delaying Social Security can pay off handsomely. If you qualify for the average $1,917 benefit at 62, waiting until 63 to claim adds $96 to your monthly check. And the longer you wait, the…
Is Social Security ‘Running Out of Money?’
Less money not no money, is the correct explanation of Social Security’s big upcoming financial shortfall. Peter Suciu, a contributing writer for Forbes, explains it all in this National Interest piece. The Congressional Budget Office (CBO) warning is the more…
3 Social Security Changes That Occurred in 2024
While there was no change in the law, Maurie Backman reminds folks that three changes take place yearly. In 2024 the COLA was 3.2% for all. Estimates call for about 2.7% in 2025. The amount of wages taxed at 12.4%…