Social Security

How much in savings will the new deductions provide?

When the “Big, Beautiful Bill” was signed into law on July 4th, it included a new senior tax deduction (temporary) aimed at those seniors who pay taxes on their Social Security. Because this bill was a reconciliation bill, it could…

A new proposal to solve Social Security insolvency

In an op-ed published Tuesday for The Washington Post, Sens. Bill Cassidy (R-La.) and Tim Kaine (D-Va.) proposed creating an additional investment fund for the Social Security Trust fund. “We propose creating an additional investment fund — in parallel to…

Retirement planning mistakes to avoid

The fear of running out of money or being unable to afford necessary expenses in retirement can be overwhelming. If you have retirement anxiety, several coping mechanisms can help you not to feel so overwhelmed. The first and most important…

Social Security Achieves Key Milestones in Customer Service Transformation

The Social Security Administration (SSA) announced significant progress in its ongoing efforts to improve customer service while handling record transaction volumes. Some key milestones include the completing over 3.1 million payments to all who were entitled under the Social Security…

Some reasons why you may want to start early

You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. But if you delay taking your benefits from your full retirement age up to 70, your…

Will you pay taxes on your Social Security benefits?

No wonder there has been so much confusion around the One Big Beautiful Bill and the elimination of taxes on Social Security benefits! The Social Security Administration published a press release saying, “A provision that eliminates federal income taxes on…

You can retire on less than $1 million

Not every soon-to-be retiree will have $1 million saved, but that does not mean you cannot retire. You will need to plan a reasonable monthly budget, maximize your Social Security benefits, and create a drawdown strategy. It sounds very daunting,…

Will the 2026 COLA be accurate?

How the cost-of-living adjustment (COLA) for Social Security benefits is calculated is not as straightforward as you may think. First, they only use the data from the third quarter of the year, specifically the Consumer Price Index for Urban Wage…

Ask Rusty – Why Can’t I get my Social Security payment plus my Railroad pension from my Ex-spouse?

Dear Rusty: I have a question. I now get a Railroad Pension from my ex-husband. I did not know it was from the Social Security Administration. I want to collect my SS benefits and my Railroad pension. Can I do…

The One Big Beautiful Bill Is Now the Law of the Land

The victory laps are underway, the pre-passage performance politics have ended, and the dust is settling on H.R. 1, “The One Big, Beautiful Bill Act.” Now, in the aftermath of President Trump’s Independence Day signing of this historic legislation, America’s…

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