retirement
What happened to President Trump Eliminating Taxes on Social Security?
Following its passage in the Senate, H.R. 1 (the “One Big Beautiful Bill Act”)provides a larger standard deduction for seniors 65 and older. According to a post on whitehouse.gov, it is estimated that the “bonus” deduction will result in 88%…
Determining the 2026 Cost of Living Adjustment
COLA is determined each year since 1975, when automatic COLA determination began. It is based on the third quarter of the current year compared to the prior year’s third quarter, July, August, and September. The government uses the Consumer Price…
Social Security Full Retirement Age May Be Raised Again
Once again, the lawmakers must make changes to Social Security to prevent benefit cuts. Amongst the changes being considered is raising the full retirement age (FRA). It could affect the amount of your monthly payment and make you work longer.…
July 2025 Social Security Payment Schedule
It’s time for the July 2025 payments to be released. The payments for SSI will be paid on the first of July, and payments that are a combination of SSI and SSDI will be paid on the third of July.…
Thinking About Taking Social Security Benefits Early?
People appear to be rushing to take their benefits early because many fear it will not be there in the future. This is not a good reason for taking your benefits early, since Social Security will always be there at…
Unpacking Some Enduring Myths About Social Security
When it comes to Social Security, there are quite a few myths and misunderstandings that persist. Currently, in the wake of the publication of the 2025 Trustees Report last week, the prevailing sentiment is that the program will cease operations…
For New (or Soon to be) Retirees: Thoughts on Handling Market Turmoil
So, you’ve made it to retirement (or have it firmly in your sights), and the market takes a sudden downturn. That can happen, and in the economy we have, it has happened repeatedly in past years. Whether it’s something like…
Saving for Retirement: An Uphill Battle for Many Americans
Reporting on the results of a recent national workforce survey, The Pew Charitable Trusts suggests that households without access to employer-sponsored savings plans, such as 401(k)s, face significant challenges in accumulating wealth to support their retirement years. Much has been…
Thoughts on Retirement Planning: Savings Outlook for 2025’s 2nd Half
To say it’s been a bumpy road so far this year would be somewhat of an understatement, with the rate structures for savings instruments remaining a bit higher than anticipated, 401(k) and IRA account balances ending the first quarter in…
Article Paints a Bleak Picture for Social Security Beneficiaries
The issue of Social Security’s annual cost-of-living adjustment (COLAs) not being able to keep seniors abreast with inflation is a frequent topic of discussion in the media. The Motley Fool’s Katie Brockman adds to the rhetoric on this matter with…